What Is Debt Solutions Consolidation?
You've probably heard of debt consolidation, but what is it exactly. Well, in short, debt consolidation is typically a home equity loan that brings together all your debt accounts into a single low interest loan that is technically spread out over 30 years, just like a mortgage. You gain control of those various debts under one payment with an interest rate that cannot change. It could be your debt solution!
Why Consolidate with Debt Solutions?
So, the economy is in the dumps. Your plans to sell your home and put the equity towards a home more to your liking have slipped to the back-burner. But why leave the equity in your house just sitting there? Did you know it could be working for you now in preparation for the future and that great house you've been dreaming of?
Many people don't realize that they could miss out on that future home due to excessive debt. Maybe you're pretty good at managing your money and your debt. You're staying ahead, making payments on time each month and on time. Or, maybe you're among those who are not so adept at juggle that many balls? You've missed a few and your credit score has slipped? Well, in either case, if you were to consolidate your debt from credit cards and other debts, like those old nuisance student loans, you'd have just one debt payment each month aside from your mortgage payment. And the new debt solution would likely be a good deal lower than all your current debt payments combined! Right away, you'd have a better chance of keeping a good credit rating, or of seeing your credit rating begin to improve. And you've only got one ball to keep an eye on!
And when the American economy turns around - it will, it always does - and you decide the time has come to sell your current home at a good price? Both your original mortgage and your home equity debt consolidation loan will be covered by the sales price of your home. And if you have been wise and kept yourself from gaining other debts again, you will be in a position to apply for any kind of new mortgage you want, even an interest only loan or the best rates on other types of mortgages that goes to only those with the best FICO scores.
And if that happens, friend, you will find yourself able to buy much more house than you might have hoped for. And you'll be able to thank Debt Solutions for the consolidation loan that made it all possible. (But don't worry... We'll give you all the credit!)