Add up all the separate school loans leftover from college and grad school or the monthly payments from all those credit cards that promised 15 % off the first purchase and it equals a headache that no amount of aspirin can touch. One certain cure for the financial pain in the neck brought about by mismanagement of personal funds is the Debt Consolidation Loan California. Mailing off minimum payments once a week that don’t put a dent in the debt wastes valuable time. Add in the finance charges and a late fee or two and the headache becomes a money management migraine. A Debt Consolidation Loan CA can bring almost instant relief to an ailing budget.
Unsecure Debt Consolidation Loans CA requires no form of guarantee and organizes the many smaller debts, or loans, into one easily managed parcel. This type of loan will eliminate steep finance charges and the inevitable late fees when a payment is missed. Lower interest rates with a Debt Consolidation Loan CA will put that interest money back into the home budget by combining all those separate loans into one single loan.
A secure Debt Consolidation Loan CA can be in the form of a home equity loan, which means that the home is used as a guarantee, or security, in case the borrower defaults on the loan. Home equity loans can be negotiated as adjustable rate or fixed rate mortgage loans, with amortization payments variable according to the value of the home and the qualification of the homeowner. Secure Debt Consolidation Loans CA may even have lower interest rates than unsecure loans, since there is collateral involved. A tax break on the interest is available with some of these loans.
Debt consolidation sounds like good medicine for financial headaches, but it’s always best to consult with an expert before trying a cure. ‘Self medication’ can be dangerous, especially when what seems like a ‘quick fix’ actually turns out to be bad medicine. Sometimes the best medicine is sound advice and information that will help make the decision as to whether or not to consolidate an informed one.
At Eagle Nationwide Mortgage, we have all of the tools, and information to help you secure the best financing option for you. Visit us 24/7 at www.eaglenationwideonline.com
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