Should you increase your mortgage to pay off unsecured debt?

The answer is it depends.  For example, if you were obtaining an advance on your mortgage anyway, then it is more prudent to pay off unsecured debt than to purchase a vehicle for example.  If you weren’t going to do it anyway then hypothetically consider the situation where your mortgage balance was higher, would you take out a personal loan to reduce your mortgage balance?  Anyway, it does not have to be all or nothing, you could perhaps obtain an advance to pay off half of your unsecured debt.

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