Improve Your Cash Flow by Refinancing Your Oregon Mortgage

By AJ Fanter
Local Lender Columnist
Oct 16, 2006
If you currently have an adjustable rate mortgage for your Oregon home or a substantial amount of credit card debt, you already know that interest rates are on the rise--which means your monthly mortgage payments are, too.

Combine those higher monthly mortgage payments with rising energy costs, and chances are your household budget is feeling the pinch. If you're looking to get control of your monthly mortgage payments, want to eliminate high-interest credit card debt, or would like to make some substantive home improvements in order to reduce your energy bills, now could be the ideal time to refinance your Oregon home. mortgage.

Refinance to Eliminate High Interest Debt

Rising interest rates can quickly turn even a small bit of credit card debt into a dreaded monthly bill. By refinancing your mortgage, you can cash out some of the equity you've built up in your home and use it to eliminate your high-interest credit card debt or pay off other financial obligations.

Refinance For a Lower or Fixed Payment

If you are currently finding it difficult to meet your present mortgage payment, you might consider refinancing in order to change the terms of your loan. Or you may wish to move from an adjustable rate mortgage to a fixed-rate mortgage. By opting for a fixed-rate mortgage on your Oregon home, you'll know exactly what your monthly payment will be over the life of your loan.

Refinance to Fix Up Your Oregon Home

Are you paying big energy bills? Tired of living in a fixer-upper that hasn't been fixed up? Another reason to consider refinancing your Oregon home mortgage is to complete a home improvement project. Renovating or expanding your home will not only add to its value, but can also reduce your energy costs if you install energy-efficient appliances, windows, doors, and heating/air conditioning systems.

About the Author
AJ Fanter is a freelance writer based in Reno, NV.