Consolidating home and auto loans

13-Dec-2016 05:09 by 10 Comments

Consolidating home and auto loans

Thus, debt consolidation has rightfully begun to earn a bad reputation.It's still possible, however, to benefit from consolidation if you explore your options and proceed with caution.

And you may be able to deduct up to 100% of the interest you do pay from your taxes—an advantage you don't get with credit cards or personal loans (consult your tax advisor to see if you qualify).There's no obligation when meeting with an Aussie Mortgage Broker and it's free. Aussie's expert Mortgage Brokers will help you evaluate your personal situation.There is a range of information available, both within Aussie's website and offline, which can help you if you're looking to refinance.Aussie's expert Mortgage Brokers will help you evaluate your personal situation, compare the features of hundreds of loans from up to 19 different lenders, and even help with all of the paperwork and other parts of the refinancing process.Community Q&A If you've watched TV or opened your mail lately, you know that there are plenty of companies eager to help you consolidate your loans to "cut your payments in half," "lower your interest rates," and "help you get out of debt fast." Indeed, consolidating your high-interest loans and credit card debt into a single loan with a lower interest rate and more manageable payments makes perfect sense. Many people who consolidate loans end up paying more than they would have otherwise.Let's compare your current loan amounts to your potential monthly payments right now with our Debt Consolidation Loan Calculator.

The average credit card interest rate is around 15%.Instead of having multiple debt payments each month, you’ll only have one.This simplifies your bill-paying process each month plus reduces the total amount you owe to your creditors.Remember experts estimate that between 50 and 85 percent of people that consolidate debt fail to stay out of debt.No matter what type of debt consolidation loan option you're looking into, it is important to understand how to consolidate debt.With so many ways to consolidate, there’s bound to be a solution for your unique situation.