Credit card debt, student loans, medical debt, and tax debt can be eliminated by using the equity in your home. Why is this smart?
1) Pay of those credit cards that have higher interest rates - compare your current credit card interest rate with what you can get
2) Reduce your interest rate on any other debt you have
Debt Consolidation Loan > Debt Consolidation Home Loan, Refinance ::
A Low Interest Debt Consolidation Loan helps manage your monthly bills the smart Equity in Your Home. See Our Debt Consolidation Loan Terms and Conditions.
http://www.firsthorizon.com/homeequity.debtconsolidation.cfmHOME |
3) Consolidate your debt to one monthly payment
4) Turn your interest to becoming tax deductible
* There are a three ways you can access the equity in your home to consolidate your debt:
1. A cash-out refinance -- when you refinance to get cash out, youre refinancing your mortgage to a loan amount more than you currently owe and taking the difference in cash. Depending on your current interest rate, you may also be able to lower your monthly payment and get cash to pay off other debt at the same time.
Debt Management Basics, Ch. 4: 10 debt consolidation myths (Page 1 of 2)::
Debt consolidation is supposed to help you fix your credit. Ch 1: Understanding your debt. Ch 2: Using home equity. Ch 3: Reorganizing finances
http://www.bankrate.com/brm/green/debt-consolidation/basics4-5a.asp?caret=23HOME |
Taking cash out of your home::
stories explaining the pros and cons with costs of cash-out refinancing and home equity loans refinance. Dont use your home equity to consolidate debt
http://www.bankrate.com/brm/news/special/20010824a.aspHOME |
2. A home equity loan - a home equity loan is another loan on your home that taps into your equity. Commonly referred to as a second mortgage, a home equity loan allows you to turn your equity into cash without refinancing your first mortgage---and usually in less time than it would take to refinance your first mortgage.
Debt Consolidation::
Home equity Loans & Lines. Student Loan Consolidation. Tools. Protect Your Payments by using the available equity in your home or through the convenience
http://www.usbank.com/cgi_w/cfm/personal/products_and_services/debt_consolidation.cfmHOME |
Should I consolidate debt using a home equity loan?::
We provide a variety of tools to meet your needs Should I consolidate debt using a home equity loan? Existing debts. Amount owed. Monthly payment
http://www.bankofamerica.com/premierbanking/tools/index.cfm?calcid=creditline02HOME |
3. A home equity line of credit - A home equity line of credit is very similar to a credit card except that it uses your homes equity as the revolving line of credit. You pay only if and when you use the money. You can get a home equity line of credit in as little as ten days.
4. Home Equity Line of Credit - A home equity line of credit is very similar to a credit card except that it uses your homes equity as the revolving line of credit. You pay only if and when you use the money. You can get a home equity line of credit in as little as ten days. When you use the equity in your home to consolidate debt, consider cutting up your credit cards and keeping one for emergencies only. If you increase your monthly cash flow by consolidating debt, think about using the extra money you now have to save or invest for retirement or to pay down your other debt faster
 My rights and duties- employer asks me to provide testimony in its civil lawsuit
 Asian or Pacific Islander?
|
Consolidate Debt With your Homes Equity?