Question by cassondra cutter: Has anybody applied for a mortgage refinancing to consolidate credit cards?
And if you had, did the mortgage people had to issue themselves the checks to the credit cards or you did? Thanks.
Answer by Lisa L
It’s a bad idea to use your home as a cash cow. Have someone do the math for you. Those dinners & coffee drinks you bought on your credit cards are now being financed over (probably) 30 years. I have refinanced people who were paying off credit cards. Sometimes we have the attorney issue the check, sometimes the money is given to the client to pay themselves. Usually depends on if they have to pay it off to qualify for the loan.
Add your own answer in the comments!