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Eliminate Your Debts and High-Interest Loans!

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Solutions for Everyone: Credit, Income, and Employment Don't Matter

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Simplifying Debt with a Debt Consolidation Mortgage

A Debt Consolidation Mortgage allows you to combine several debts or liabilities (such as car loans, credit card debts, payday loans, personal loans, collections, etc.) into one single monthly payment at a lower rate, helping you save a significant amount of money.

Here’s an example:

Imagine someone with a mortgage for $625,000 and an additional $200,000 in debts and liabilities outside of their mortgage. Here’s the breakdown of their $200,000 debt and monthly payments:

 

The total monthly payment for these debts would be $6,000, plus their mortgage payment of $3,200, making their total monthly payment $9,200.

By consolidating their $200,000 of debts and liabilities into their $625,000 mortgage, they could have a new $825,000 mortgage with a monthly payment of $3,915. This consolidation would save them $5,285 per month and $63,420 per year.

Comparison Table
ItemBefore ConsolidationAfter Consolidation
Mortgage Amount$625,000$825,000
Car Loan Payment$1,200$0
Credit Card Payment$2,400$0
Personal Loan Payment$1,600$0
Other Loans Payment$800$0
Mortgage Payment$3,200$3,915
Total Monthly Payment$9,200$3,915
Monthly Savings$5,285
Annual Savings$63,420

By consolidating, they would now enjoy one low monthly payment at a much lower rate, simplifying their finances and significantly reducing their financial burden.

Frequently Asked Questions

A Debt Consolidation Mortgage allows you to combine multiple debts into a single mortgage payment at a lower interest rate, simplifying your finances and reducing your monthly payments.

By consolidating high-interest debts into a single mortgage payment with a lower interest rate, you can significantly reduce the amount of interest you pay over time, leading to substantial monthly and annual savings

A debt consolidation mortgage can include various types of debt, such as car loans, credit card debts, payday loans, personal loans, and collections.

Consolidating debts can initially impact your credit score due to the hard inquiry on your credit report. However, over time, it can improve your credit score by reducing your overall debt and making it easier to manage payments.