Is a recession coming? Many experts warn it's coming and much quicker than expected. With interest rates being raised again today, many people can't afford their existing debt. If you have a HELOC, credit card, or any other debt on an adjustable rate, you have seen your monthly payments skyrocket. Many financial experts say this is too much for families to handle and could lead to a recession as soon as late as 2023 or early 2024. With the price of groceries, insurance, gas, etc being so high, many families are losing their ability to pay their monthly bills.
We are now seeing many people turning to a cash-out refinance to consolidate and pay off costly debt. If you find yourself in this situation, let us run a debt consolidation calculator to see if this could be a good move for you.