Manage your Debts by Refinancing your Current Home Loan
- Author Ray Ethell
- Published January 14, 2023
- Word count 441
A Debt Consolidation Home Loan can Help you take Control of your Finances
Are your debts getting out of hand and you want to take control of your finances? If you have answered yes, you should consider the possibility of refinancing your current home loan and combining your multiple debts with a debt consolidation home loan (e.g. credit cards and other personal loans) into one home loan.
How does the process of Refinancing My Home Loan to Consolidate My Debts work?
You simply consider applying for a new loan on your current property and you use this new loan to pay out your current home loan and any other debt you may have (e.g. higher interest credit cards or personal loans)
How Can I Benefit by Refinancing My Current Home Loan and Consolidating My Debts?
You too can benefit in the same way that many Australians are already benefiting by refinancing your current home loan. This will enable you to:
Lower your monthly repayments
Make only one repayment
Lower your interest rate
Reduce the amount of time it takes to pay off your home loan
Get yourself back in control of your debts much sooner than you anticipated
You will not have to experience the stress and pain of overdrawn or over the limit credit card balances
Reduce your debts (including eliminating high interest credit card debt and personal loans)
You will not have to pay the higher credit card interest rates anymore
Who can enjoy the Benefits of Refinancing?
Refinancing may benefit you even if you fit into one or more of the following categories:
Short-term employed or not employed long enough
Previously bankrupt or Part 9
Declined by another lender
Bad credit history
Existing loan arrears or defaults
What Should I Consider When I Am Applying for a Refinance Home Loan?
Make sure, the refinancing and debt consolidation process is beneficial to you. I suggest you to consider the following outcomes at the time of applying for a refinance home loan and confirm in your own mind, if the outcomes are to your benefit:
You are kept fully informed
Your repayments will be reduced – not increased
There are no hidden fees or costs
You have achieved control over all your debts
There is a real long term benefit to you
Not all lenders allow equity release to consolidate debts contact a Debt Management Mortgage Lender
So, don’t spend your money in making high monthly repayments. Take full control of your finances and contact a debt consolidation specialist who will provide you with expert advice on refinancing your current home loan to consolidate your debts.
Ray Ethell offers a wealth of experience to his clients, gained from 20 years in the Finance industry, and prides himself on providing reliable customer focused service. Non Conforming Loans specialise in non bank lending solutions such as debt consolidation home loans.https://articlebiz.com
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