Mortgage Coach has added debt consolidation strategies in the Total Cost Analysis (TCA) presentation, allowing loan originators to educate consumers on lower interest debt repayment options as peaking home equity values offer household cashflow relief.
According to first quarter data from the Federal Reserve, there is $21 trillion in U.S. home equity and about $4.6 trillion in non-mortgage consumer debt such as credit cards, auto loans and college loans, with revolving and student debt having