How to Roll Credit Card Debt Into a Mortgage
- 1). Fill out a Uniform Residential Loan Application with your mortgage lender. Provide the lender with your full legal name, social security number, date of birth, income, employment and residence history. If there is a co-borrower or co-signer on the debt, the same information will need to be disclosed by that individual as well.
- 2). Provide the lender with 2 months bank statements, 2 months pay stubs, and 2 years tax returns for all borrowers. Additionally, provide the lender with your current monthly mortgage statement and any credit card statements that you want to include in the mortgage.
- 3). Sign all paperwork given to you by the lender and allow the lender to check your credit and order an appraisal on the subject property.
- 4). Sign all closing paperwork, once the mortgage has been approved. The closing agent will send payoffs to all credit card companies after the three day right of rescission period ends. This is a three day period in which you can stop the mortgage refinance, if so desired.
