Velores & Cardell Thompson’s Success Story

Velores & Cardell Thompson’s Success Story

SBEL is your solution when…you want to utilize your home equity to consolidate credit card debt into a lower interest loan with tax deductible interest.

 

Situation: Velores & Cardell Thompson own a beautiful home in the Inland Empire.  The Thompson’s recognized an opportunity to see multiple financial benefits by consolidating their debt in a refinance of their home.

 

SBEL Solution: Loan Officer Drew Hardesty was able to accomplish 3 “wins” for the Thompsons through refinancing their home.

  1. Lower the interest rate on their home loan
  2. Pay-off high interest credit card debt utilizing home equity and rolling that debt into the home loan with a much lower interest rate.
  3. The credit card interest was not tax deductible. Now, with the debt as part of their home loan, the interest rate is lower and it is tax deductible.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *