Home Equity Loan
debt consolidation with home loan?
i want to buy a home, but have $44000 in debt already, can i get a home loan that includes the amount needed for the house as well as including the debt eg if i buy a house for 299000 plus debt 44000 equals a home loan of $343000???
Public Comments
- I don't see why not. As long as you have the income to pay it every month. Not only that, it's a smart thing to do as you probably are saving 1000's of dollars on interest of the other debt if it is interest bearing debt.
- no, you won't get a loan that is that much higher than the value of the house. you'll have to get a home equity loan after you've paid the mortgage for at least a year, then you can pay off the debt
- creditinfocenter.com
- Ive mentioned this before on one of these threads i used a company called Aftersense and they offer various financial services. They helped me obtain a loan when i had hardly any income. I think they also offer Debt Management aswell. you can fill in a form on their website and they will give you a call back. Hope this sorts your problem out.
- Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loan<!--allows you to condense your monthly payments into a single, simple bill, while lowering your interest rates and helping you pay down your debts more quickly and easily. It is also an essential tool in avoiding the much more serious step of declaring bankruptcy. http://best-loans.awardspace.com/Loan-Consolidation.htm Unlike bankruptcy, in which debts are cancelled and your credit rating collapses completely, debt consolidation loans are essentially a type of refinancing, where several-->old loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.
