refinance mortgage pay off student loans

Using a Cash-Out Mortgage Refinance to Pay Down Student Loans

Michael Lux Strategy, Student Loan Blog 0 Comments

With mortgage rates near record lows, many student loan borrowers are thinking about using a mortgage refinance to attack their student debt. The process is called a “cash-out” mortgage. Instead of refinancing the amount currently owed on a house, in a cash-out refinance, homeowners borrower more than what they owe. …

Refinance Lender Transparency Review: Who is Offering the Best Covid-19 Advice?

Michael Lux Opinion, Student Loan Blog 0 Comments

Editor’s Note: The initial lender reviews for this article took place on August 3rd, 2020. If a refinance company takes steps to provide better guidance to borrowers, its grade will be updated accordingly. Businesses love to brag about how they do the right thing and put consumers first. Sadly, this …

Using a Refinance or Consolidation to Simplify Bill Payments is Dumb

Michael Lux Opinion, Student Loan Blog 0 Comments

Both federal student loan consolidation and private student loan refinancing have significant advantages. These two processes can easily save borrowers thousands of dollars when done correctly. However, both federal consolidation and private refinance come with significant risks. The potential dangers are part of the reason that I hate to see …

Multiple Student Loan Refinance: the Costs, the Lenders and How to Avoid a Mistake

Michael Lux Strategy, Student Loan Blog 0 Comments

Refinancing a refinance student loan might sound redundant, but it is an excellent way for borrowers to eliminate debt more efficiently. Not all borrowers should try to refinance their student loans a second time, but in many circumstances, the permitted extra refi can save a bundle and provide some financial …

The Consequences of Student Loan Refinancing and Consolidation on Credit Reports

Michael Lux Strategy, Student Loan Blog 0 Comments

Student loan consolidation and refinancing are excellent tools for borrowers hoping to get their finances in order. Refinancing enables borrowers to get lower interest rates and/or lower monthly student loan payments. Federal consolidation can help borrowers qualify for favorable repayment plans and forgiveness programs. In both a refinance and a …