Refinancing your mortgage can give you the opportunity to consolidate your debts and save on interest costs.

Depending on how much equity you have in your home, you can refinance and get cash that you can then use to pay off other, higher-interest debts, like credit cards and other loans. By "rolling" all your debts into your mortgage, you can end up making one, low monthly payment, instead of several, and save on interest costs. Unlike the interest you pay on credit cards, or car loans and other types of loans, your mortgage interest is probably tax deductible. Check with your tax advisor to confirm this option to save. Mortgage interest rates are especially low right now presenting a great opportunity to take a look at refinancing and consolidating your debts. Your Norcom mortgage specialist can help you determine the right loan for you.