Debt Consolidation Loans Without Owning a Home

Must Read

Why Black Friday Is The Best Time To Shop

Looking for bargains?Planning to do your Christmas shopping already? Well, this is probably the best time for you to...

Refinance Mortgage: Common Mortgage Pitfalls You Need to Avoid

If you are in the process of taking out a new mortgage or refinancing your existing mortgage, there are...

Wells Fargo Home Refinance Or Modification With the Stimulus Plan

Being one of only a few selected lenders to offer President Obamas stimulus plan, Wells Fargo, is going all...

Home Mortgages Refinance Is Not Always A Good Idea

The home mortgages refinance means, that a borrower will take a new loan and pay away all the...

Free Debt Consolidation – Freedom From Loans At Last

If you are neck deep in debt and loans don't hesitate to get a free debt consolidation loan advice....

How to Get a Debt Consolidation Loan Without Owning a Home

There are a number of ways for you to get a debt consolidation loan without owning a home. There...
Admin
test

Debt consolidation loans are available to those who don’t own a home. By using a personal loan or new credit card, you can reduce your interest payments, making it easier to pay off your loans. Low rates are just a matter of shopping around.Personal Loans Offer Reasonable RatesPersonal loans offer reasonable rates, even if you don’t have collateral. Even with rates two points or higher than home equity loans, you can still save hundreds a year in interest charges.Personal loans are also quick to qualify for. Applying online, you can be approved for $10,000 or less the same day. In some cases, you can also receive your money that day. Qualifications are based on your credit score and income history, not ownership of property.Credit Card Transfers Can Offer A ReprieveTransferring your high interest credit cards to a lower interest one will save on interest costs. Some financing companies offer 0% on transfers for a limited period, usually six months or longer.Before opening a new account, check to see that you can transfer balances from your current cards to the new one. If both new and old accounts are with the same financing company, your creditor may not allow a transfer. Also, read on jumps in interest rates after the introductory period.Getting Better RatesInterest rates can vary as much as 10 points on personal loans and the same with credit cards. Comparing financing offers will ensure that you get the best deal on consolidation your loans, enabling you to save even more money.The quickest way to research rates is to look online. Individual lenders will post their rates. Sometimes you will have to search the site, but often rates are on their homepage.For personal loans, you can also work with a broker site. They will provide you with quotes from several different companies.To get the most out of your debt consolidation loan, pay off your loans as soon as you receive the money. Then close accounts to keep out of debt and improve your credit score. Finally, focus on paying off your debt consolidation loan by making extra payments. Not only will you save on interest charges, but you will be out of debt sooner.

Latest News

Digital Marketing for Beginners

Digital marketing for starter, Let to basic learning about connecting with your audience in the right place at the...

More Articles Like This