Can I pay off my credit cards with a refinance mortgage loan?

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3 Comments
  1. Reply
    SoccerRefToo
    April 29, 2011 at 10:42 pm

    Peterson

    Yes, unless there is a restriction against it in the refi agreement. I have NEVER seen such a codicil in any refinance transaction.

    Soccerref.

  2. Reply
    ღ†Rocker Wife†ღ
    April 29, 2011 at 11:03 pm

    That’s typically something that people do when they refinance.

  3. Reply
    Kaden Kal
    April 29, 2011 at 11:13 pm

    Refinancing an existing mortgage loan is often used for debt consolidation which is referred to as a cash out refinance. In order to accomplish this, there must be enough equity in the home to cover the cash out. Remember, if the total mortgage loan amount goes above 80%, you will be required to pay private mortgage insurance (PMI) .

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