—the Ultimate Financial Power Tool
You already have access to what may be the most powerulnancial tool available to help you reach your nancialgoals - your home.The experts at Countrywide Home Loans want to help youmake the smart nancial move with a home loan that letsyou take control by consolidating debt and possibly evenlowering your monthly payments.For example, homeowners with high balances on multiplecredit cards can oten pay o those credit cards and evenother debts by renancing their existing home loan.Let’s look at an example o how a renance loan couldconsolidate and pay o debt, save on monthly mortgage andcredit card payments, and oten provide you with additionaltax deductions (consult your tax advisor).
CurrentHome LoanCredit Card #1Credit Card #2Credit Card #3Total
I a homeowner with the fnancial scenario above consolidated his/her higher interest debt using theequity rom their home, then that homeowner would have a mortgage payment each month o only$1,361, with total monthly savings o $670.75!
Note:The above scenario is based on the ollowing: Original loan terms assume a $155,000 1st Mortgage, with 7.95% interest. Credit card payment assumes 3% o balance.The refnance loan terms assume a 3-year fxed adjustable (3/27): 3-year pre-pay, 2 points, 7.75% interest with an 8.87% APR. Does not include tax and insurance.