Consolidating credit card debt into line of credit dating in boise idaho

Debt consolidation is nothing more than a con because you think you're starting with a clean slate.But the truth is the debt is still there, as are the habits that caused it—you just moved it!

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We’re serious about matching you with the financial products that fit you best.

We’re on your side, even if it means we don’t make a cent.

You can’t borrow your way out of debt in the same way you can’t get out of a hole by digging out the bottom.

Getting out of debt isn’t quick or easy, but it’s the first step to achieving lasting financial health. It simply means you’re taking out one loan to pay off a bunch of loans—or consolidating the debt to one payment.

"I would only suggest this as a last-gasp strategy," says Susan Reynolds, author of "One-Income Household." "In general, rolling credit card debt into mortgage loans is not a good idea. If you renege, they can pester you for payment and ding your credit report, but they cannot confiscate your home." Todd Huettner, president of Huettner Capital, a mortgage brokerage specializing in debt consolidation, advises homeowners to answer three questions before rolling debt into a home loan: After working with nearly 5,000 families, Susan White of Plan Plus Inc.

You will pay significantly more in interest over the life of the homeowner's loan than you would if you chipped away at your credit card debt over a period of three to five years. has her own reasons for advising against rolling debt into home loans.

Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.

By understanding how consolidating your debt benefits you, you'll be in a better position to decide if it is the right option for you.

It’s typically considered for people who have high consumer debt.

But most of the time, after someone consolidates their debt, the debt grows back. They still don’t have a game plan to pay cash and spend less.

With mortgage rates still near historic lows, consolidating credit card debt in a refinance can substantially lower monthly expenses. With their savings dwindling and credit card debt mounting, they looked to their most valuable assets: their center-city Philadelphia home and a second house they were renting out.

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