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By Keith Hunt
Many people contact us when they are 30, 60 and 90 days in their mortgage
payments. If they are this late with their house payment they are generally
behind with the car and have several credits cards that are maxed out.
A simple debt consolidation loan would take of all these troubles. By using
the equity in your home all the debts would be paid off and you are left with
a clean slate and generally spending less money every month.
For more information please go to:
http://www.goldmedalmortgage5.com/california/10/California-Debt-Consolidation-
Home-Mortgage-Loan.html
One benefit to a debt consolidation loan that often overlooked is the tax
advantage. Interest on a home loan is tax deductible where interest on credit
cards and cars are not.
Our office received a call early one morning from a man desperate to save his
home and needed foreclosure help. He was already 90 days late on his mortgage
and desperately needed to refinance and pull out money to pay off enormous
debts.
He had just started a new job where he actually was making less money than
before, and was in a real financial bind. His poor credit made it difficult
for him to even qualify for a loan, let alone a low interest rate. To make
matters worse, the next day he received a notice of default on his property.
This man was worried that his family would have no place to live. He was
reassured that we would save his home and help him through this difficult
ordeal.
We began immediately researching ways to help this client and found a lender
willing to work with him and save his home just in the nick of time. His
mortgage payment stayed about the same and he was able to pay off more than
$25,000 in other debts, which alleviated several hundred dollars in credit
card payments every month.
More importantly, this man`s house was saved and his family was in a much
stronger financial position.
“A bank is a place that will lend you money, if you can prove that you don’t
need it,” Bob Hope once quipped. But when you are going through a bad
financial spell, you need an institution that will stand by you.
Banks tend to make loans that are risk-free to them. It is hard to imagine
that any bank would have helped him in this situation. But as a nationwide
mortgage banker we have ongoing relationships with lenders that specialise in
different types of loans. This knowledge allowed us to help a client save a
family home from certain foreclosure.
Although we have the ability to help in extreme situations such as this, we
highly recommend that homeowners take action long before desperation sets in.
For more information please go to:
http://www.goldmedalmortgage5.com/california/10/California-Debt-Consolidation-
Home-Mortgage-Loan.html
For immediate assistance to stop foreclosure please call toll free 1 888 300
2040
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