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Benefits to Mortgage Debt

In order to buy a house, most Americans take on a mortgage loan. While debt is usually to be avoided if possible, when it comes to a mortgage there may actually be some financial benefits for borrowers. Liquidity If you dump all your extra funds into paying off your mortgage, you may be in a tight spot if you face a financial emergency. Family deaths, divorce and health traumas are just a few things that can quickly rack up enormous debts. If you do not have a sizable emergency save up and you have been sinking all disposable cash into your home, you may end up selling your home to pay f...

June 5th, 2019 | Debt, Credit, Mortgage, Benefits to Mortgage Debt

Shannon Smith-Wood
Colonial Mortgage Group

3261 Old Washington Rd, Suite 1011, Waldorf, Maryland 20602
Phone: 410-798-6611 | Fax: 410-798-6618
Company NMLS: 70452 & Individual NMLS: 3964
www.nmlsconsumeraccess.org

Residential Mortgages provided by Colonial Mortgage Group
Licensed: MD LO 5908 & MD 17542;  DC MLO3964 DC MLB70452; FL MBR1384
Licensed by the Virginia State Corporation Commission License #MC5185 & MLO-18339VA. Licensed by the PA Department of Banking License # MB35217 & PA LO 47550

By refinancing your existing loan, the total finance charges may be higher over the life of the new loan.