Mortgage refinancing can prove beneficial in several ways:
- Consolidate additional mortgages, high interest credit cards, loans and lines of credit
- Lower your monthly payments and increase cash flow
- Allow cash for renovations and home improvements that will increase property value
- Assist with financing children’s education or other needs
- Obtain money for investments such as additional real estate or financing a business
Mortgage refinancing is becoming a popular financial solution, especially for those who are burdened by large monthly payments or multiple debts.