Resolve to Eradicate Those Debts
There are a variety of options for debt consolidation. As you shop for a new loan, be aware that there are several types that bill themselves as perfect for debt consolidation. The most prevalent is refinancing your existing mortgage. If you are a homeowner with only one mortgage on your house, this could be the best money-saving loan. After all, the interest you pay on your mortgage is tax deductible, so there is some benefit to using your home equity to pay off those other high interest unsecured loans.
Another option is to take a second mortgage on the house. The interest rates for this kind of loan are generally a few percentage points higher than on a second mortgage, but it is still likwly tax deductible, and may even be lower than some of your credit card interest rates. Debt consolidation in this form means you will have two mortages on your home, but those will be the only payments you'll have to make every month.
What if, though, you are not a homeowner? How can you too cash in on debt consolidation? It is, to be certain, slightly harder to wrap all of your smaller debts into a larger, lower interest loan without a house to use as collateral. An unsecured personal loan could possibly have slightly higher interest, and not be tax deductible. Nonetheless, if you are paying higher interest on anything else, it is still a better choice.
Debt consolidation can be the freedom from stress that you need. Imagine receiving a lump sum payment that can eliminate all of your little bills and potentially save you hundreds of dollars a month in interest and minimum payments. Take control of your finances this year, and resolve to be stress free and relaxed with a debt consolidation program tailored to you.
=============================
About the Author:
Michelle Anderson provides insight and info on a broad range of topics. Visit onelocate.com for more info on debt consoldiation and other sought-after products and services.
Related Tags: debt, banking, credit, financial planning, debt management, budget, debt consolidation. financing
Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are
