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One mortgage company is offering to consolidate 1st mortgage,
2ndMort(line of credit), few credit cards into one loan without the
"Pre-payment" penalty at 7.95% fix for 30yrs.
The current situation is as follows:
1st mortgate at 5.10% 30yrfixed
2nd mortage(line of credit) at 9.10% variable (1.75%+ prime)
creditcards apr ranging from 11- 24.99%
Would it be beneficial to REFI at this point ? or just wait for another
few months (say 4months) where equity would be much higher and total
household income would be greater?
feedback appreciated.
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Opinion
