Is a Debt Consolidation Home Equity Loan Right for You?
Maybe you’ve indulged in impulse shopping one too many times or actually found yourself in an emergency where paying with a credit card was the only option. Either way, if you’re a homeowner who is struggling to pay those monthly bills, debt consolidation could make sense for you.
Homeowners who have equity in their homes but whose debt load has become difficult to manage are good candidates for debt consolidation loans. A debt consolidation loan allows you to pay off high-interest consumer debt, such as credit cards, by centralizing those balances with one lender in one loan. This means that you can merge a home mortgage payment, a car payment, a student loan payment and credit card debt into a single larger loan. One way to consolidate is through a home equity loan.
Orson Klender, Licensed Associate Broker; Keller Williams Real Estate
Focusing On Your Needs Is The Key To Our Success!