Debt Consolidation Loans
Jennifer Hershey
Debt Consolidation Loans
Wouldn't it be nice to make just one payment per month instead of several? Most of us not only have a mortgage payment. We have car payments, credit card payments, student loans, etc.
If you have been living in your home for a reasonable amount of time and you have acquired enough equity, you might want to consider a debt consolidation loan.
A debt consolidation loan is using the equity you have acquired in your home from monthly payments and appreciation to pay off all of your outstanding debt, leaving you with one monthly payment instead of several.
Consolidating your debt has the potential to save you a lot of cash on a monthly basis if you have accumulated a lot of debt.
The interest rates on credit cards alone are considerably higher than that which you would receive on a mortgage.
Another benefit is the interest you pay on your debt consolidation loan is tax deductible, unlike your other debt.
Consolidating your debt is a great way to save money, but don't just dive in. Take the time to educate yourself about the mortgage industry and definitely shop around for the best deal. The mortgage industry is very competitive, so let them compete for your business.
Another benefit to consolidating your debt is that it will help your credit score go up.
The accounts you have outstanding that you owe money to are called open trade lines, by paying these off and than closing a few of them to keep your debt under control, you will be effectively increasing your credit score over time, which is how lenders determine your payment history.
About the author:
Jennifer Hershey has more than twenty years of experience in the
Mortgage Industry as a loan officer. She is the owner of
http://www.explainingmortgages.com/, a mortgage resource site
devoted to making mortgage terms and products easy to
understand.
The latest information and news on Consolidate Debt Online :
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Organize Debt Consolidation Quickly and Easily (Carteret County News-Times)
(ARA) - Until recently, Ken Goins of Woodland Hills, Calif. was like most Americans -- he carried a balance on several credit cards. The weight of the balance became heavier and heavier, and Goins just wanted to end his debt.
Government Debt On The Rise (Forbes)
Fiscal consolidation will be necessary to fix increasing debt to GDP ratios.
Freedom Debt Relief Doubles Consumer Debt Settlements (PRWeb via Yahoo! News)
Consumers getting credit card, debt settlement help nearly double for California company
AutoNation Supports General Motors Consolidation Plan (The Auto Channel)
FORT LAUDERDALE, Fla., May 15 -- AutoNation, Inc.
Southborough school consolidation plan needs facts (The Southborough Villager)
The Southborough School Committee said it plans next month to form a fact-finding committee to look into the possibility of consolidating from four schools to three.
Valcent Products Inc. Announces Debt Settlements and Corporate Restructuring ...
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2009) - Valcent Products Inc. (the "Company", or "Valcent") (OTCBB:VCTPF) announces in order to continue the commercialization of the Verticrop system as well as maintaining its 50% interest in Vertical Algae Technologies Inc., it has initiated a corporate restructuring. As part of the restructuring Valcent settled approximately 85% of its ...
District considers debt prepayment (San Mateo Daily Journal)
With lawsuit payouts lower than anticipated, the San Mateo Union High School District will consider prepaying $7.5 million toward an $80 million consolidation loan it took out in 2007.
Vote over, but consolidation work beginning for Balaton School District (Mars...
The decision to consolidate with the Tracy School District brought on some mixed feelings at the Balaton School, school officials said Wednesday. On one hand, the move prevents Balaton from having to face statutory operating debt or dissolving. On the other, it means finding a use for the vacant school building, and some difficult decisions for staff members.
Valcent Products Inc. Announces Debt Settlements and Corporate Restructuring ...
Valcent Products Inc. announces in order to continue the commercialization of the Verticrop system as well as maintaining its 50% interest in Vertical Algae Technologies Inc., it has initiated a corporate restructuring.
Paris Club agrees to cancel $845 mln Ivory Coast debt (Reuters via Yahoo! Asi...
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