Mortgage Consolidation

We have a mortgage for 146,000. Value according to more than 205,000 mortgage holders. We have a fixed rate of 6.65% and have 26 years left on mortgage. incumbent could run all of our home loan debt and reduce our rate of .25%. Make payments with our escrow, insurance, taxes, etc.. 1460.00 to 1750. Our debt includes 14,000 in student loans, 14000 in credit cards, and Vechile 15,000 in the 10,000 HELOC. The question is almost taps entire equity in our home and we would also have a loan of thirty years again. Is this wise? Thank you. BTW both of our credit rating in the middle are mid 720. We make about 110,000 per year.

It's always a bad idea to run credit card and car loans into your mortgage. I do not think student loans are so good either. What happens if you change jobs or get sick? Now, you lose your home.

Of course, the biggest problem with all this material in your mortgage is that you must pay more interest on these 30 years for these debts. And of course, so many people support these cards back and buy new cars in recent years.

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I would never ever do such a thing. Now you have all this money on your home. If something happens and you can not make house payments. They will take your home.

You make good money. Cut your lifestyle and live on 50,000 for one year. This leaves 60,000 to repay student loans, credit cards, cars and Heloc.

unsecured debt (car loan, CC) should never be refinanced into a new home loan. You make $ 110K per year, so you should be able to afford it. You must be able to track and reduce your expenses. If you consolidate, in 5 years you'll be back to 15K on CCS, and expenses, as it is not tomorrow. You must organize your budget.

I would if the debts of credit cards have a higher interest rate.
Another thing is that you must limit yourself to spend a lot of credit cards again ...

Make sure the lender will charge more than 1 isn't up charges ... and not try to sneak in some points of call. you should get a fixed 6.25% 30yr ... if your loan is above 175