A student loan, on the other hand, is unsecured debt and the bank cannot seize your house or car if you fall behind on student loan payments (although they can garnish your wages).Lastly, you can declare bankruptcy on a mortgage whereas student loans are much more difficult to discharge in the case of bankruptcy. Well, if you transfer student loans to your mortgage and can’t afford the new monthly payments, you put your home at risk of foreclosure.By putting you first, we assure you a pleasurable transaction on all of our refinance and purchase loan programs.
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At Alpine Mortgage, we specialize in providing the most competitive rates and closing costs on a Connecticut, Florida, New York, New Jersey and Pennsylvania mortgage.
Our goal is to make your home loan process as simple and worry-free as possible.
Refinancing to pay off student loan debt might seem to add up on paper, but it’s actually risky when you consider the consequences.
Let’s investigate the consequences, when this debt repayment strategy makes sense and the financial breakdown.
Try adjusting the terms, loan types or rate until a consolidation plan fits your needs - and most importantly your budget!