gregorygarver.com

[lordkelvin]

should i refinance to pay off debt if I have a 5.75 rate currently?

[WilliamH5373]

refi to pay off debt? huh? unless you roll debt into your mortgage (and turn that debt into a 15 or 30 year note) I am not sure how refinancing will help.If you are talking about a debt consolidation loan, no.Call all of them and work out a payment plan and try to get your interest lowered or stopped.Then, make the minimum payments on every one of them. On the lowest dollar value, put all your extra effort toward paying it off. Once it is paid off, then roll that extra money to the next largest balance. Continue this snowball until all your debts are paid off.You probably need to cut your expenses back to the bare minimum. Get rid of cable, cell phones, internet, etc. Lower your electric bill, gas bill, water bill, etc. Don't eat at a restaurant until your debts are under control. Take a sandwich for lunch. Cancel the gym membership.Try to increase your income by getting a second job. If you have a car with payments, get rid of it, and buy a good dependable used car for CASH.Go to the library and get "The Total Money Makeover". Read it and follow it carefully.Go check out Dave's website as well.www.daveramsey.com

[dan_kschang]

You want to RISK YOUR HOUSE for tacos and movit tickets you couldn't afford and placed on credit cards???? Get on a written plan for your money. http://www.daveramsey.com will give you some free forms for your spending plan (aka budget). List your debts smallest to largest and just start paying them off. Financing the debt for another 30 years is not the answer to your spending problem.

[Spockrhp9474]

You've got a good rate at 5.75% if that is a 30 year fixed. Depending on what you are able to refinance at and how much it will cost you in points (1 point = 1% of loan amount),should help you decide.Also, consider what you are paying in interest on the current dept. that you owe. For instance, if you're paying 12% interest on a $20,000 dept. but you could refinance and be paying 6% back into you're mortgage, which is all tax deductable ,could be an advantage.Best bet, just contact a mortgage broker and decide what your options are.Good luck.

[Waasup]

never do it even if you have a little higher rate -- you will not find a cheaper rate -- if you want to get out of debt quicker downsize your life style!!!