Debt happens. Sometimes through no fault of our own. Sometimes because we made poor choices. Regardless, the pressure can be suffocating and humiliating.
But did you know you can use equity in your home to consolidate multiple debts into a single payment at a lower interest rate? This means:
- more money can go to toward paying down principle faster
- total monthly payment can be reduced
- convenience of a single payment
- improved credit score as you can now make payments on time
* Mortgage amortized over 20 years. ** Payments rounded to the dollar
* Mortgage amortized over same 20 yr period ** $5,000 added for early prepayment penalty
Imagine the relief. Imagine the ability to refocus on the important things in life.
Food for thought…
Debt consolidation deals with the immediate symptom, not the cause. It should be done as part of a careful budget review and honest assessment of needs vs wants in order to avoid a repeat situation.