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By getting rid of the high interest rates on your current credit card debts, and combining all your bill payments into one, you’ll end up paying less each month than with all the bills separately.
This mortgage is sometimes called a “cash-out” refinance, because you are getting cash out of your home’s equity to use for other things.
Besides, your credit card balance has a 16.99 percent interest rate, and that car loan with 5 a month payments just seems outrageous. Well, some people turn to a debt consolidation mortgage.
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