While interest rates remain near historic lows, now is a great time to refinance to consolidate debt. A debt-consolidation loan allows you to make one monthly payment and potentially pay less overall. And, unlike a credit card, the interest and charges may be tax deductible. (Consult a tax adviser for further information regarding the deductibility of interest and charges.)
Here are 2 great ways to go:
1. FHA Cash-Out Loan
Get the security of a fixed-rate, government-insured FHA loan.
2. Conventional Fixed-Rate Loan
Lock in a low rate now, then sit back and watch as that rate NEVER changes.