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Debt
Consolidation
Reduce
Debts and Lower Your Monthly
Payments
Debt
Consolidation Calculator
Debt
Consolidation Info
Example
of Benefits
Home
Refinance
Debt
Consolidation loans have been a means by which hundreds of thousands of
homeowners have been able to use their home values to save
money. By taking out a debt consolidation loan (2nd mortgage)
a borrower is able to combine the balances of current bills and debts
into one loan... and one payment. Lenders may offer borrowers
with good to excellent credit the ability to borrow up to 125% of the
value of their current property.
Application
The
money from a debt consolidation loan can be used for any purpose-
including but not limited to
Paying
off High Interest Credit Cards
Home
Improvements
Tuition
Vacations
Luxury
Items
And
anything else!
Generally
speaking, with a debt consolidation loan monthly payments are reduced and
cash flow is increased. Further, since the interest paid on a debt
consolidation loan is that of a home loan, the interest may be tax
deductible.*
| Bills |
Balance |
Payments |
Debt
Consolidation Loan |
| Credit
Card #1 |
$5850. |
$135.00 |
-0- |
| Credit
Card #2 |
$5,300. |
$157.50 |
-0- |
| Credit
Card #3 |
$5,060. |
$249.00 |
-0- |
| Credit
Card #4 |
$5,200. |
$262.50 |
-0- |
| Credit
Card #5 |
$2,600. |
$87.00 |
-0- |
| Credit
Union |
$1,790. |
$83.00 |
-0- |
| Car
Payment |
$10,090. |
$262.50 |
-0- |
|
TOTAL |
$35,890. |
$1,236.50 |
$481.20 |
Based
on a $43,000 loan over 25 years at 13% APR 15.934
On
this example, there's a savings of $755.30 per month!!!
* Consult your tax
advisor for details.
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