Debt Consolidation Through Home Mortgage Refinancing
We can help you lower your monthly debt payments and rebuild your credit rating
For millions of consumers who have spent more than they can afford to pay back, "debt consolidation" is a practical solution out of their debt trap and we can help.
"Consolidation" is the technical term given to the arrangement where all your existing loans, including your home mortgage loan, are combined into one large basket.
When that new sum is refinanced, you can get a monthly payment lower than in the past and thus gradually make your way back to the land of good credit through regular and affordable monthly payments.
Another advantage of debt consolidation is the fact that you end up with a single creditor and don't have to remember to make all those multiple payments to multiple creditors every month. Life becomes easier and more manageable.
Student loans, credit card debts, back taxes, home improvement loans, medical or utility bill debts, and consumer loans are some of the debts that can be refinanced through debt consolidation.
Home owners can use their equity to take out a debt consolidation mortgage to pay off all their debts through a single monthly payment. Debt re-mortgaging loans are also available to increase the amount of your existing mortgage in order to pay off big debts that would otherwise be not payable.
Since such debt consolidation mortgage loans are "secured," that is, your home acts as the loan collateral, there is a higher chance of getting it in comparison to other forms of non-secured loans.
Another advantage: a mortgage amortizes the debt over 15-to-30 years. Thus the net effect of spreading your existing debt over a much longer period is to lower the monthly payments. For those consumers with serious cash-flow bottlenecks, that's a most welcomed solution.
A third advantage is the ability to quickly rebuild your credit rating and raise your credit score above 600 by making regular payments on time. Lowering your debt load is key to raising your credit score. On the other hand, due to the lower interest rates negotiated with your creditors by a debt consolidating counselor, you can actually end up paying more debt each month than you could've afforded before and thus repair your credit history faster.
However, once you refinanced and consolidated your debts, you have to be extra careful not to be late with or default on your monthly payments or incur additional credit card debt. Any failure to pay off your consolidated debt will wreck your credit rating even worse than before. Thus debt consolidation requires a genuine change in behavior and a sincere commitment to financial responsibility.
So, if you are sick and tired of all those phone calls from your creditors, the complications of not being able to pay for anything with a credit card, and perhaps even the pain of losing your phone service or utilities, then you should really consider a debt consolidation mortgage refinancing solution as a time-tested and logical way out of your troubles.
Call us TODAY at (877) 310-FUND for your free and strictly confidential consultation to see how we can best structure a safe path out of the debt jungle for you.
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