You can also choose to cash out your equity by refinancing or applying for a second mortgage or line of credit.
Refinancing your home can cost thousands in upfront fees, but they can offer you overall lower payments.
It works with the Department of Education as well as private lenders.
One way to resolve a defaulted loan is to combine your existing federal student loans into a new Direct Consolidation Loan from the US Department of Education (ED).
Learn more about when to consolidate and refinance federal and private loans.
Your defaulted federal loan may be consolidated provided that it’s not a previous spousal consolidated loan and you are not subject to a judgment secured through litigation or an order of administrative wage garnishment on a federal student loan for which you’re requesting consolidation.Meanwhile, it's our job to make it all happen – bringing you the best homeowner loans available so that you can make an informed decision that fits in with you and your lifestyle.We work with providers who won't lend directly to the public, so you could find a great rate here you may not find anywhere else.Many people choose second mortgages or new lines of credit because they usually cost zero to a couple hundred dollars to open.The down side is that their rates are higher than a traditional mortgage, causing most people to go with a home equity loan.