Refinance now to consolidate debt or get a lower rate. Over the
coming months here is what will happen in the mortgage industry:
- Rates will go up
- Home values will come down
- Mortgage loans will be harder to obtain
The increase in foreclosures has caused a major upheaval in the mortgage industry.
The increase in risk that lenders face due to high foreclosure rates has not yet
been reflected in interest rates. As lenders adjust to the new reality of high foreclosure
rates they will make it harder to get a loan and raise rates to attract institutional
investors back into the mortgage market.
Debt consolidation is the easiest way to lower your total monthly payments. Use
cash out refinance to pay off credit card debt, auto loans and other debt. Use our
mortgage calculator to compare your current total debt payments to your new, lower
mortgage payment once your debts have been consolidated.