consolidation loan..A GOOD IDEA?
I have a FHA 5.0% fixed mortgage rate now. Would it be wise to consolidate all my credit cards, loans and mortgage to a FHA Bill Consolidation Loan at a fixed 6.0% rate? I know this would stop the creditors from dropping my 40% ratio to a 95% balance to limit ratio, and raising my interest rates for “maintaining profitability on my account”. All my accounts are paid on time and above minimum, at very low interest rates….I’m puzzled