If you're paying private mortgage insurance, you could reduce your monthly payment by refinancing and taking advantage of your equity even with a higher rate. PMI can be hundreds of dollars a month. Unlike conventional loans, with FHA loans, the earliest that PMI comes off is usually about 11.5 years because they base it on the original loan amount, not the equity you currently have. I can also get you a term that matches the time you currently have left on your loan. 23 years left on your mortgage? I can get you a 23 year mortgage.
In addition, if you have a lot of revolving debt, a cash out refinance could consolidate your debt and pay off those cards. The payment could be less than what you have been paying for the mortgage and cards together. Remember that paying the minimum payment on credit cards could take up to 99 years tp pay them off.
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