Are you under a mountain of crushing debt? If you are, one of the best ways to free yourself financially is through debt consolidation. Debt consolidation can give you the tools you need to lead a stress-free life without the burdens of endless debt and financial worries. Of course, in order to find the best way to consolidate your debt, you need to find the right debt consolidation lender.
The Benefits of Debt Consolidation
One of the easiest ways to consolidate your debt is through refinancing your mortgage. Mortgage refinancing can free you up financially, giving you more discretionary income and the ability to put your mind at ease.
Basically, consolidating your debt means that you will be able to roll all of your debt payments into a single monthly payment. By doing this, you will not have various loans with separate payment dates and interest rates.
When you consolidate your debt, you can roll your mortgage, credit cards, and car payments into a single payment with a single interest rate and a single due date. Needless to say, this will take stress off of both your wallet and your mind.
Many individuals do not know how you can consolidate your debt with a second mortgage. Well, consolidating your debt by refinancing your mortgage will allow you to have this substantial financial freedom. Of course, it is important to be well-educated about debt consolidation through refinancing your mortgage, but this is where our Atlanta mortgage lenders come into play.
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How Can I Prepare to Consolidate My Debt Through Mortgage Refinancing?
The ways in which you can evaluate whether or not you should consolidate your debt through mortgage refinancing include:
- Making sure that the rate you are getting will be lower than the current rates you are paying.
- Make sure that you can handle the payment under the new loan amount.
- Choose a loan officer who will be able to honestly tell you what the new payment will be and the life of your loan without any hidden fees or strings attached.
- Factor in the extra interest that you will be paying over the years of your loan.
- Remember that by consolidating your debt, you are extending the life of your loans.
If this all sounds confusing, our mortgage managers of Atlanta will be happy to help you understand how debt consolidation can help you, and whether debt consolidation through mortgage refinancing is a good option for you. If you would like a complimentary consultation with one of our mortgage managers, please call our office today at 404-475-6270.
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