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Should I consolidate my mortgage and line of credit into one loan?

Q: I have a ten-year mortgage and a ten-year line of credit which has three years left to go. Should I combine them?

A: If you have no use for the line of credit -- you are simply making payments, but don't expect to have a need to draw equity in the next couple of years, you might consider combining them. However, it's hard to say if there will be any interest savings, which will depend on the rate you are paying now on both loans relative to what you can obtain in the market.

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