Refinancing your mortgage can help you get a lower interest rate and a cheaper monthly payment. There are typically four life and economic events (there are more) that result in people to consider mortgage refinancing, like:
Pay off debt via Debt Consolidation (more on that below)
Mortgage interest rate has dropped
Take out cash (equity) from the home
Credit score has improved enough to be eligible for a substantially better rate
For many, paying off debt is the number one priority for achieving financial health and, hence, DEBT CONSOLIDATION REFINANCING is on the top of the list when considering mortgage refinancing. Let's go into this a little deeper...