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July 25, 2006
Credit Tips: Home Refinance for Cash Out or Home Equity
"Sub-prime [bad credit] mortgage lending rose 60% last year," said SMR vice president George Yacik, "to $516 billion." One of the most common reasons for this: debt consolidation. With the new, more complicated and expensive bankruptcy laws in effect and credit card companies doubling their minimum monthly payments, people are looking for other ways to get out from under high-interest debts. Tapping into your home equity is an effective way for you to pay off debt (including credit card debts and high-interest loans) and raise your FICO
From Credit Tips: Home Refinance for Cash Out or Home Equity
Posted by Guido at July 25, 2006 01:53 PM
