Fort Worth homeowners now have a tremendous opportunity to lower their house payments and eliminate their unsecured debts.

What has happened is because of some almost criminal mishandling of the economy on the part of the good folks in Washington D.C., the Federal Reserve is in the position of having to drop interest rates yet again…meaning there are some great deals available for home owners in Fort Worth. Debt consolidation is only one reason you should consider refinancing your home while mortgage rates are at these historic low levels.

When you consolidate your unsecured, high-interest credit card debt with a home equity line of credit, you’ll experience four benefits:

1. Lower payments. Since Congress decided it represents Big Business instead of the honest working people who voted for them, credit card companies have been going hog wild, raising interest rates and doubling minimum payments. Some credit card companies charge up to 29% (Wouldn’t you just love Jesus to get hold of those money changers in the temple?) even when customers have never been late on a payment. A home equity line of credit will allow you to give those bloodsuckers the old “heave-ho” – and you’ll enjoy a much lower interest rate and lower payments.

2. A better credit score. Paying off unsecured debt will have a great effect on your credit score, entitling you to many more benefits such as lower interest on car loans and lower fees for many other things.

3. Tax benefits. Time was that honest hard-working folks could deduct credit card interest from their taxes. Then, in 1982, Ronald Reagan passed “the most sweeping tax reforms in history…” which was good for business, but didn’t help the average working American very much. Among other things, workers lost that credit card interest tax deduction. The good news is that mortgage interest – whether on a first mortgage or a home equity load – usually is a legitimate tax deduction (see your tax professional for more details).

4. Stability. This last part is for those of you who got roped into an adjustable rate mortgage (ARM) awhile back. Right now, even as home prices are falling, a lot of those people are seeing their house payments rising – a lot. The fact is, those rates are never going to go down, even when the housing market does recover. Right now is a great time to bail out of those ARMs and get the security and stability of a low interest, fixed-rate loan.

It’s easy to get started, and since your Ft. Worth mortgage broker represents several loan programs, there’s little doubt that s/he’ll quickly find the right load for you.