If you're looking to reduce your overall monthly bills and potentially lower the overall interest paid on your debt, a refinance loan can be an attractive debt consolidation option. With debt consolidation, you could combine all your monthly bills into one simple payment. In many cases, the new refinanced loan may even save you thousands of dollars in principal and interest.

Advantages of Debt Consolidation Refinance

• 1. Debt consolidation refinance can reduce the number of bills.
• 2. Debt consolidation refinance may lower interest rates.
• 3. Debt consolidation refinance can free up cash, which you can use to pay any remaining debt off faster, or for any other expenses.

Refinance Loans for Debt Consolidation

If you're a homeowner and want to consolidate your debt, there are several types of refinance loans options to choose from.

Cash-Out Refinance	Replaces your first mortgage with a new mortgage Choice of fixed, adjustable or fixed-period ARM loan options for the new mortgage. Allows borrower to cash out available home equity as result of refinance
Combo Loan	A refinance loan where the goal is to combine debts into the new loan. Use a Combo Loan to consolidate higher interest rate debt into one low monthly payment and possibly even get cash from available home equity.
Countrywide Fast and Easy Refinance CALL TODAY: 1-800-763-4790	Available to qualified current Countrywide Home Loans customers with excellent credit. Borrowers may also qualify for no new appraisal, reduced paperwork and fast and easy processing.

3 Smart Moves to Help Consolidate Your Debt

When you're looking to refinance your home loan to consolidate your debt, be selective on whom you do business with to avoid costly mistakes. Here are a handful of tips designed to help protect you:

• 1. Shop for a lender, not just a loan.
  
  • The trustworthiness of the company you choose will likely determine the quality of the loan you end up with. It's okay to demand evidence of integrity. They should have a solid history of satisfied customers going back many years.
  • Avoid unknown shops and lean toward reputable companies. Large, well-known companies are under the scrutiny of financial regulators, and can't afford to damage their reputations. They may be more likely to have safeguards to ensure you're treated fairly.
  • Ask for an initial consultation. Before you apply for a loan, let the lender's representative interview you and provide potential options. Look for lenders willing to educate you about your refinance loan options to help meet your debt consolidation needs.
• 2. Ask the lender to run the numbers and get it in writing.
  
  • Ask the lender to run the numbers to show you scenarios how you could be better off financially after the loan closes. It's up to you to ask - and get it in writing.
• 3. Don't Overdo It.
  
  • Don't deplete your home equity over and over, leaving yourself without assets to handle true emergencies or lowering your standard of living at retirement
  • Don't pay off debt that charges lower interest than the debt consolidation loan.
  • Don't use debt consolidation to bail yourself out of debt caused by over-spending - and then continue to over-spend.