As with any mortgage, if the loan is not paid off, the home could be sold to satisfy the remaining debt.
You may want to consolidate debt in order to: Using your equity to pay down debt can eliminate stress and worry and put you on a solid path to financial freedom on your own terms.
The average credit card interest rate is around 15%.
By comparison, mortgage rates are currently in the 3–4% range.
Many homeowners take cash out to pay off high-interest debt or make home improvements.
Use our refinance calculator to see if you have enough equity to reach your financial goal.