Debt Consolidation Mortgage: A Slippery Slope Indeed

Have you ever heard of a debt consolidation mortgage? Do you know how it works? I guess you have already heard a lot about debt consolidation because of the growing advertisements everywhere. However, a debt consolidation mortgage is a complete different concept. In a debt consolidation mortgage, you use your home mortgage or a refinancing (second mortgage) on your home as collateral for the mortgage loan. Here, you can use the equity of your home to pay off other debts as credit card debt.

A debt consolidation mortgage may be an efficient instrument to resolve debt. However, it is actually a medication with many risks and side effects. In a debt consolidation mortgage, your monthly payments quickly decrease through consolidating several debts into a single security against the value of your home. Simply, debt consolidation mortgage is a new mortgage that combines many high interest debts (credit card, car loans etc.) and the balance of your mortgage.

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Save Our Home by Saving in Your Home


Image courtesy of mouton.rebelle

By now, we all know how important it is to save energy in order to save the planet. It has been drilled into every marketing campaign of every energy company for the past few years to make us more aware of our emissions.

These campaigns, along with those of the government, might not have worked on everybody just yet but, whether you believe in global warming or not, it is undoubtedly cost effective to minimise the energy output from your home. If you don’t care about the planet, I’m sure you care about your wallet. Saving money is appealing to everyone.
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Don’t Let Your Mortgage Control Your Life

With the current mortgage crisis gripping the whole world, and foreclosures still going on at an alarming rate, your mortgage may be at the top of the list. The stress is affecting people everywhere, but you can’t let your loan control your life.

The Crisis Isn’t Over Yet

Though economies around the world are showing signs of recovering, that does not mean we’re out of the crisis yet. Foreclosures are still continuing at an alarming rate, and the stress of keeping up the bills is affecting many people around the world. Here are eight tips to help you beat the heat:

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Debt Consolidation – is it Right for You?

If you’re buried under a pile of debt, consolidation may be a solution for you. Debt consolidation is one debt relief option that has helped many people overcome their money woes.

Debt consolidation means taking out another loan to help pay back your debts. It takes all of your debts and puts them into the hands of one creditor. You have only one monthly payment for everything and one place to send it. It’s a great advantage for some people, but for others it’s not the best option out there.

Debt Consolidation May Be Right For You If…
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How to Choose the Best Low Interest Credit Card

If you intend to make purchases and pay for the amount in longer terms, low interest credit cards are for you. The best credit card should help you get on top of credit card bills. You could still opt to pay balances in full every month, though most experts would advise you to get higher interest credit cards instead so you could get entitlement to airlines miles, rewards, and other incentives.
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Home Loans for the Self Employed

Getting a mortgage while being self employed in some cases is more difficult but there are definite methods of receiving a home loan when it is required. It can be, however, quite different to when a person is employed by another company.

The Process of Getting a Mortgage while Self Employed

When a person is running their own home business, but they need a mortgage, the process is very different compared to a regularly employed person. The way that a person assesses their income can be complex. Many times as a result of this difficult process, individuals who are self employed have a hard time receiving the mortgage that they need using their tax returns.
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Take Control of Your Home Loan

Owning a home today is one thing many people strive for but aren’t aware of the burden a mortgage can become.  It is one of those payments that is necessary but you dread making it month after month for years on end.

When homeowners think about reducing their debt they typically do not include a mortgage as part of their bad debt. We are more concerned with the credit cards and personal loans that tend to acquire over a lifetime.

Though seeking a debt consolidation will greatly reduce your debt and the interest you pay by combining your additional debts within your home loan, focusing on reducing your home loan can also save you thousands.
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Bridging Finance – The Good and Bad

Buying your first home is a great feeling – but what about when you want to upsize or even downsize to another property? Many people find all of their cash for a down payment is tied into the equity of their existing home.

This poses the problem when you find your next dream home and are unable to make a down payment because you have to wait for your current home to settle to secure the funds you need. Often people feel they have been locked into a catch 22 situation. There is a solution to this problem commonly known as bridging finance.
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Why Prices Go Up – Inflation Explained


As prices rise slightly year after year, most of us take little notice – it’s not until you look back and remember how much you paid for your milk, your newspaper or even your home, compared to the prices now, that you realize just how much prices have crept up.

This creeping is called inflation and is actually far more orchestrated and deliberate than you may realize since it’s something you don’t notice until long after it has happened. Inflation occurs in every country in the world and understanding how and why it happens can help you find ways to minimize its effects on your life.
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The Beauty of Debt: 3 Steps to Take Back Control

“A bank is a place that will lend you money if you can prove that you don’t need it.”
– Bob Hope

A lot of people seem to think that credit caused the recent financial mess and that cash is king. While part of that might be true, things are not so simple. Debt can be good. In fact, as long as you’re using it correctly, debt can be used as a tool.

Credit cards can also be a great way to keep track of your spending and get rewarded for making purchases you would make either way. With some offers, what you earn in cash back and loyalty rewards will more than make up for the annual fee!

This is why we need to distinguish between good debt and bad debt. Good debt (e.g. debt used to buy investment properties) puts money in your pocket. Bad debt (e.g. debt from buying junk on credit) makes you broke. Although each situation is different and good advice from a financial planner is always advised, these three tips are a good starting point.
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