Financial Information
is bill consolidation using your home on a second mortgage a good idea?
Question : is bill consolidation using your home on a second mortgage a good idea?
I have qualified for a bill consolidation loan which will give me a second mortgage plus cash out and pay off my credit cards making one payment and I could really use the cash to start a business.
bill consolidation
Best answer:
Answer by Gem
Only if you realize that if you miss payments on the second/equity mortgage, and make payments on the first, you can still lose your home.
Second mortgages and equity lines are a huge part of the foreclosure problem. HUGE.
Good luck
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