Top 5
Debt Consolidation Options
Try
these debt consolidation options before picking bankruptcy as
your way out of debt...
From: Kate Rieger,
President
Second Opinion Solutions Group, LLC
Corydon, Southern Indiana
Sunday 011:00am
Kate Rieger
Repair Your Credit Using These Tips and
Advice
|
If you own a home and have some equity
in it, you have a few debt consolidation
options that are relatively low in cost.
These options fall under the concept of
"equity takeout", which includes
mortgage refinance and second mortgages.
You might benefit from a second point of
view on "equity takeout" from these
mortgage experts.
Take out a home equity loan.
A home equity loan has the advantage of
carrying a fairly low interest rate,
currently in the high single digits, and
what interest you do pay is
tax-deductible. Most fixed-rate loans
carry a 15-year term and require that
borrowers pay an origination fee of $75
to several hundred dollars, plus the
cost of an appraisal and title
insurance.
Do a "cash-out" refinancing.
Another option for those with home
equity is refinancing your property for
greater than the amount you owe and
using the extra cash to pay off debt.
You get very low interest rates this
way, but you're stretching payments out
over 15 or 30 years. The total interest
cost over three decades can wind up
being pretty huge, so think of this as a
one-time-only (if ever) debt
consolidation option.
Refinance
your car. Most people don't think of
it, but it is a secured loan and you can
borrow against it. The danger there is
that you may run out of car before you
run out of debt. It's tough to buy a new
car when you owe more than it's worth.
Get a
personal loan. If you have
reasonably undamaged credit, you may
qualify for an unsecured loan. Credit
unions (see link to the left) typically
offer lower rates than banks, but even
there you can expect a rate of 11% or
more. Still, that may be a whole lot
less than the 20%-plus you're now paying
to the credit-card company.
Not getting anywhere with the creditors?
Then
it is time for some tough-guy debt relief.Find out more about debt consolidation
tips in this easy-to-follow mini-course
called
"Extreme Debt Reduction & Credit Score Boosting Strategies That 98% Of Borrowers
Will Never Know -- And How
You Can Learn These Strategies Too..."
To
start this free, online mini-course, please complete the short form below
and you can start immediately -
Yes Kate - I
want to start today!
What others are saying...
Hi Kate,
I do want to thank you so much for your quick and thorough responses to my questions. I am amazed at the amount of information you manage to deliver. Your
program is terrific.
You give an awful lot of personal attention that can never come from a computer
program.
Thanks for everything - I mean it!
Melissa
Louisville, KY
__________________________________________________
Dear Ms Rieger,
God Bless You!
You treated me like I was someone
important. I thank you for that and for showing me how to improve my FICO
scores. You are truly amazing!
Sincerely,
Roberta D.
Jeffersonville, IN
__________________________________________________
Credit Rejuvenations Rocks!
Dave
|
Recent Repair Your
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Repair Your Credit
The Internet, radio and
television is full of
information sites on how to
raise credit scores, offers
for debt consolidation or
debt reduction. If you've
grown weary of the overload
of information that really
looks like the same stuff
over and over, you may
benefit from this
article... |
Credit Repair
If you own a home
and have some equity in it,
you have a few debt
consolidation options that
are relatively low in cost.
Here are
5 options to consider
before picking bankruptcy as
your way out of debt. |
P.P.S.
Remember, if you haven't done it yet, make sure you
get your free Special
Mini-Course entitled "Extreme Debt Reduction &
Credit Score Boosting Strategies That 98% Of Borrowers Will Never Know --
And How You Can Learn These Strategies Too..." by completing
the sign-up form above.
Warmest Regards,
 |
