As many experts know, a second mortgage is often a great way to consolidate debt and pay less every month, but there are other ways to do it, some of which may fit an individual situation better. Ascendant Marketing Group understands all this and many other methods for refinancing, debt consolidation and other money matters, which is why they have been so successful as a marketing group. They have been able to generate leads by identifying the best candidates for these types of services and helping financial services companies relieve the debt burden of many people, while also increasing their revenues, their efficiency and their profitability.
In some cases, a cash-out refinance is a refinance of an existing mortgage loan, in which the homeowner refinances a larger amount than the existing mortgage, with the homeowner taking out the excess cash in a lump sum. That cash can be used for any purpose, including the consolidation of high interest debts. That can include credit cards, car loans, or student loans. The amount the homeowner will be able “cash out” this way will depend on the value of the current equity in the home and how much is still owed on the mortgage.