A consolidation loan can
combine all those aggravating bills into one low monthly payment. You'll
pay less in finance charges with a consolidation loan and have more cash
on hand at the end of the month too.
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A consolidation loan does not reduce the amount you owe. Instead,
it lowers the interest rate you pay.
You will still need to keep your debt low, and if you have extra money, save it,
invest it, or pay off your mortgage early. Or, replace all your bills with one
easy, affordable monthly payment - and enjoy a good night's sleep again!
Loan companies specialize in helping customers re-establish their credit with a consolidation loan. The refinance folks would like you to realize their dream of saving hundreds of dollars each month while getting your credit back to A status. With a consolidation loan you can become debt free or get the cash you need to use for any purpose.
A consolidation loan can help homeowners who have a higher amount of equity in their homes. In most cases, a consolidation loan has a lower interest rate than personal loans, but requires a higher loan amount. The interest on this loan may be tax deductible (please consult your tax planner). Consolidation loans and lines of credit are also referred to as second or third mortgages. Most lenders will offer up to 90% of the current value of your home, and some lend as much as 125%.