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Debt Consolidation Using Your Home Loan

As the new year gets underway, it can be the perfect time for many to take a closer look at their finances. To get ahead, one of the most important things you can do is to cut down on your high-interest debts. For homeowners, a clever way to do this is with the help of debt consolidation. Consolidating various debts into your home loan can be a strategic financial move that reduces your interest and allows you to pay the debt down faster. However, there are both advantages and disadvantages that you need to consider.