We are determined to provide you with the best financial consulting services to help you decide if refinancing your debt into a mortgage is an ideal option for you. A debt consolidation loan could be the perfect solution for people with multiple sources of debt and good home equity. Using your equity to consolidate your debt can help save you money on a monthly basis. With the money you can save every month, you will have the opportunity to finally pay off your debts and reduce your mortgage payments.
Advantages of Consolidating Credit Card Debt into your Mortgage using a debt consolidation loan:
- By Consolidating your credit card debt into your mortgage you will be able to write off all paid interest on your tax returns.
- Debt consolidation loans make managing your finances much easier because you are replacing several monthly payments with just one.
- Allows you to become debt free faster.
- Banks and credit unions are increasing their minimum monthly payments on balances. By consolidating your debt you can take advantage of fixed monthly payments and avoid the increasing minimum balance problem all together.
- Unlike a credit card interest payment, the interest you pay on a mortgage is not only tax deductible, but it is significantly lower as well.
- After you consolidate your debt you will notice a substantial increase in your credit score when you pay your credit cards and debts down with a cash out mortgage refinance.
Consolidating other debts, such as VA home loans using a debt consolidation loan can have the same advantages as consolidating credit card debt. Your first step in consolidating your debt is to make a complete list of the debt you want to consolidate. Your Avrus SM consultant will then review the list and confirm that you have enough home equity to pay off what you owe. During the process of consolidating your loans you must continue to make your regular payments toward those debts. If not, the default and late payments could negatively affect your credit score as well as the outcome of your loan.
To find out if you qualify for debt consolidation loans, contact a consulting professional at Avrus Financial & Mortgage Services Inc. SM.
Consolidating your Debt with Loans
If you are experiencing trouble keeping up and managing your multiple monthly bills, then you should consider consolidating your debt. Applying for a debt consolidation loan will allow you to make one easy payment every month that covers all your regular monthly bills. Debt consolidation loans are available in forms such as unsecured personal loans, secured, or mortgages.
Consolidating debt is best for those who have difficulty managing multiple monthly bills, who cannot keep up with current payments, who would like to be able to make one monthly payment, or for those who cannot handle dealing with several creditors at a time.
Debt Consolidation Loan Advantages
- The best advantage of consolidating all of your loans is that you will only have to make one easy payment to one creditor instead of having to make several different payments to different creditors.
- You will only have to remember to make one bill payment a month instead of several different ones. This will significantly reduce the amount of stress you have.
- No more nagging phone calls from creditors! Now that you can successfully manage your bills, you can avoid those annoying debt collection calls.
- Lower your interest rates! Debt consolidation loans are normally offered at considerably lower interest rates than other types of loans. After you consolidate, your payments may be even lower than what you are paying now!
- Lower your interest rates! Debt consolidation loans are normally offered at considerably lower interest rates than other types of loans. After you consolidate, your payments may be even lower than what you are paying now!
- Improve your credit score! With a debt consolidation loan you can pay off all your bills in one clean sweep, positively effecting on your credit score!