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Debt Consolidation Advice

Whether you finance your credit card bills wih a debt consolidation 2nd mortgage or negotiate a settlement, you need to do consolidate or eliminate any credit that carries a variable interest rate.  The compounding interest of credit card debt has become an epidemic in America with millions of consumers facing bankruptcy in these difficult economic times.  Many unsecured customers are making efforts to settle their credit card debt with new debt settlement plans that most finance companies are agreeing to through debt negotiations.  Unfortunately, in most cases revolving credit card debt is not paid back quick enough and most consumers end up just paying the minimum payment each month.  When borrowers only make the minimum payment, they end up just paying interest on top of interest and the outstanding balance grows rapidly. 

Consider a fixed rate second mortgage that will lower your monthly payments and provide additional tax incentives that credit card payments do not provide.  Second mortgage rates have dropped to levels not seen since 2005.  More home equity is required and you will need full income documentation to qualify.  Read the complete debt advice article > Become Debt Free in 2009

Posted in 2nd Mortgage Tips, Debt Consolidation Tips. Tagged with , , , , .

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