The advantage of accomplishing this can be that you will have a lot longer to cover your debt off, since mortgage loans routinely have longer terms than many other loans.
The disadvantage is you may wind up having to pay more for the debt when you look at the term that is long as you will have more interest re payments.
Bank card balance transfer
An replacement for debt consolidation reduction, you can transfer this debt to a new credit card with a lower interest rate or an interest-free introductory period to save money if you have credit card debt with a high interest rate.
The drawback is that when the period that is introductory, you have a straight greater rate of interest than before in the event that you nevertheless have actuallyn’t paid down your debt.