Debt Consolidation

Interest charges these days can be as high as 28% on revolving credit. Being financially sound also means that you are well in control of your finances, and that you are paying the lowest possible interest rates on outstanding amounts. As a home owner, you are able to utilize the equity which exists in your property, to secure a loan at a low interest rate, whereby utilizing the proceeds to pay off all those high interest rate loans. This can lower your monthly expenses by hundreds, sometime thousands, of dollars.

Financial analysts have long known about the power of consolidating their client’s debts into one simple loan, with one simple monthly payment, and one low interest rate. Let us show you a real example of how we were able to free up thousands of dollars for our clients:

Before Debt Consolidation
Existing Mortgage
Property Value $260,000
Mortgage Balance $193,000
Interest Rate 7.95 %
Term 5 year
Monthly Payments
Credit Cards ($18,000) $682.00
Other Debt ($4,000) $200.00
Mortgage $1578.43
Total Payments $2,460.43
After Debt Consolidation
Mortgage Alliance Mortgage
Property Value $260,000
Mortgage Balance $215,000
Interest Rate 5.75 %
Term 5 year
New Monthly Payments
Credit Cards ($0) $0.00
Debt ($0) $0.00
One Mortgage Payment $1343.80
Total Savings $1116.63

 

In this particular example, the high interest rates that the clients were paying prior to the consolidation exercise, translated into the clients making interest only payments of more than $800 on a monthly basis. This did not lower their principle in any way. After consolidating, the clients were making payments $1,116.63 less than before, and part of their monthly payment also went towards lowering their total principle. If you would like us to show you the best option for consolidating your debt, please contact us at any time, or simply fill out our online contact form and we will do the rest.

DEBT CONSOLIDATION/REFINANCE

100% financing is also available for refinancing purposes. Use the maximum available equity in your home to free yourself from bothersome monthly debt, and lower your payments to manageable level. For more information on how much you can qualify for, please contact us at any time, or simply fill out our online contact form.

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