Consolidating credit card debt with mortgage
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On-time payments will build credit score, Before you refinance, clean up your credit score We encourage an active and insightful conversation among our users.You will pay significantly more in interest over the life of the homeowner's loan than you would if you chipped away at your credit card debt over a period of three to five years. has her own reasons for advising against rolling debt into home loans."The theory of turning higher debt rates (credit cards) into lower ones (mortgage) is a great idea," says White in an e-mail, "but it usually doesn't work because many of the people who end up in this situation have a habit of spending without conscious decision making." Gayle and Jim Mc Weeney are determined to break that habit."It's extremely helpful to have a good adviser," Gayle says."Not only does he help us think outside the box, he will hold us accountable.