Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Categories
Tip of the Day

Tip of the Day Seek Professional Help

Seek Professional Help - For most of us our days are busy enough and trying to plan an investment strategy is beyond our means of understand or our time requirements....

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Bad Credit Debt Consolidation Mortgage

Each individual has a different debt situation.  There are those who are proactive in their actions regarding debt.  This means they will attack the problem head on before it spirals out of control.  Then there are situations in which the debt can become out of control before the person truly realizes it.  Neither situation is completely detrimental. There are solutions for both worlds.  One solution is the bad credit debt consolidation mortgage.  It is a mouthful, but the gist is that you can get a mortgage to consolidate your debts.  The downside of the bad credit debt consolidation mortgage is the terms. 

The largest issue with bad credit debt consolidation mortgage is the interest rate.  You are seen as a high risk client; therefore the lender will increase the APR to as much as possible or that seems reasonable for your situation.  The good news with a bad credit debt consolidation mortgage is the monthly payment.  Most often when you consolidate your debts down to one you will see a slight decrease in your monthly payment.  The interest may not be any better, but that is a small price to pay considering the rewards the bad credit debt consolidation mortgage can offer you. 

Besides having one payment, there is one more benefit.  It is this benefit of the bad credit debt consolidation mortgage that will catch your eye.  With the mortgage you are showing that you are dedicated to improving your credit score.  As long as you make on time payments each month your credit scores will increase.  As your scores become better, you have the option of refinancing your mortgage.  In a refinanced mortgage you should be able to obtain a better annual percentage rate

The bad credit debt consolidation mortgage is in place more for fixing your credit scores than truly reducing your debt problems.  You do not want the mortgage to hinder progress towards getting out of debt, but on the other hand you do not have to obtain the greatest loan to make the bad credit debt consolidation mortgage beneficial to you. 

 

Discuss It!
Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Distribution Plan

Distribution Plan - a distribution plan is a plan executed by mutual fund companies. The purpose of the plan is too collect and assesses fees to shareholders of the funds, to offset expenses. The expenses could be for advertising costs or sales incentives (rewards for good behavior). The distribution plan...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com