Loans Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

A Guide to Debt Consolidation Loans


Should you find yourself overcome by debt, you might want to consider debt consolidation loans. These loans are designed with the person in debt beyond their means in mind, allowing for repayment of the outstanding debts while combining multiple payments into a single affordable monthly payment. Debt consolidation loans can be applied for at most banks or lending institutions, with some even specializing in debt relief and consolidation.

Debt consolidation loans consist of a loan that is equal to the either the total amount of your outstanding debt or to a significant portion of it, and allow you to pay off that debt so that you have only a single debt remaining? the loan itself.

Collateral and considerations

Since applying for debt consolidation loans means that you have some amount of debts that you wish to consolidate, there's a good chance that your credit is less than perfect. If this is the case then you're probably going to need some form of collateral, or property that you put up against the loan that the lender will be able to sell to get their money back in case you don't pay the money back. Collateral for debt consolidation loans can be a clear automobile title, the deed to a house or other real estate, or other forms of valuable property (though cars and houses are the most common forms of collateral.)

When applying for debt consolidation loans, you should first decide exactly how much money you need to borrow? usually, this will either be the total sum of your debts or the sum of the biggest debts that you have. The amount that you need will help to determine what sort of collateral is appropriate for your loan, and will also be a major factor in determining the interest rate and monthly payment that you'll get in order to pay the loan back.

Limitations of debt consolidation

Different lenders have different rules for debt consolidation loans? some have a minimum amount that you can borrow, and almost all have maximum amounts (which are usually based upon the value of your collateral.) Many lenders that specialize in people with less-than-perfect credit will offer very flexible terms for debt consolidation loans, since that's where they get a lot of their business. Unfortunately, you often tend to have a slightly higher interest rate when dealing with these flexible terms.

In the end, debt consolidation loans can be a godsend to those who may have felt that there was no way out of their financial problems. The loans can get your debt under control so that you have a single payment to make, and might even help you avoid bankruptcy? a place that no one ever wants to go. Thanks to the ease of consolidating your debts with debt consolidation loans, you won't have to.

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:

About The Author

John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the http://www.directonlineloans.co.uk website.


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Forbes

Here Are The 5 Biggest Student Loan Mistakes Of 2018
Forbes
No one likes to make a mistake. When it comes to your student loans, in particular, a mistake can cost you more money. According to Make Lemonade, there are more than 44 million borrowers who collectively owe $1.5 trillion in student loan debt. The ...



America's $1.5 trillion student-loan industry is a 'failed social experiment'
MarketWatch
But ask many borrowers in this generation whether they worry about how the loans will affect their future and you'll get a slew of bleak replies: It's stopped them from getting their car fixed, switching jobs, buying a home and having children. Even a ...



Washington Post

Court allows Obama-era student loan rules to take effect, delivering defeat to DeVos
Washington Post
That means that Education Secretary Betsy DeVos is now responsible for implementing a rule that she said makes it too easy for students to cancel their student loans and that she has fought to kill. Consumer advocates back the regulations, saying the ...
Judge orders protections for defrauded students to go into effectCNBC
Court win for student loan protections a setback for DeVosPolitico
Students Defrauded by For-Profit Colleges Can Seek Loan Forgiveness, Judge RulesWall Street Journal
Gainesville Sun
all 94 news articles »


The Real Deal

These were the 10 largest Manhattan real estate loans in September
The Real Deal
The top 10 Manhattan loans in September totaled just over $2 billion, up 25% from August, but no single deal broke the $300 million mark. The Manhattan real estate debt market rebounded somewhat in September, but there were few standout deals. The top ...



Wall Street Journal

Banks That Gave Mozambique Covert Loans Propose Restructuring
Wall Street Journal
Banks that arranged billions of dollars of loans to government companies in Mozambique have proposed to restructure some of the now-defaulted debt, as the government of President Filipe Nyusi struggles to relieve financial pressure on Mozambique's ...



CNBC

Strong US economy drives performance in both high-yield bonds and leveraged loans
CNBC
Do you still like credit risk? If so, you may want to look at high-yield bonds or leveraged loans. Both markets have held up remarkably well so far this year. While rising interest rates have clobbered both investment-grade and emerging market bonds ...



National Mortgage News

Bank of America Mortgage Review
U.S News & World Report Money
Bank of America serves roughly 67 million customers in all 50 states. The lender offers conventional, Federal Housing Administration, U.S. Department of Veterans Affairs and jumbo loans, as well as home equity lines of credit and mortgage refinancing.
Housing finance slows at Bank of America as home equity loans dwindleNational Mortgage News

all 19 news articles »


CNBC

Student loan debt isn't just a millennial problem - CNBC.com
CNBC
From buying a home to saving for retirement, many recent — and not-so-recent — college graduates are putting off life's major milestones because of their ...

and more »


HousingWire

Mortgage debt or student loans, what's weighing you down?
HousingWire
A recent study by Magnify Money, an analytical division of LendingTree, revealed that in the last two decades, student loan debt has surpassed $1.5 trillion, making it second-largest type of debt Americans hold. Although student loan debt isn't spread ...



MLive.com

Quicken Loans looks to Canada for tech talent, plans Windsor expansion
MLive.com
Quicken Loans founder Dan Gilbert is expanding his Detroit real estate and technology presence across the river into Canada. Gilbert's Detroit-based lending giant doesn't offer mortgages in Canada, but the company announced Tuesday that it plans to ...
Dan Gilbert plans to open Quicken Loans office in WindsorDetroit Metro Times
Quicken Loans to Expand Offices to Ontario in 2019RisMedia.com (press release)
Local tech companies welcome Quicken Loans as potential game changerWindsor Star

all 5 news articles »

Google News

home | site map
TIGER MEDIA© 2006