Debt Consolidation
Read on... OR for straight advice about YOUR mortgage issues,
CONTACT My Mortgage PhD directly!
The #1 MISCONCEPTION about Debt Consolidation Mortgages:
The main goal of debt consolidation is to get the lowest monthly payment possible.
If you learn only one thing about debt consolidation mortgages before signing one, PLEASE let it be this:
The TOTAL $$$ amount you save when you consolidate is MUCH more important than any monthly payment savings. DO NOT allow yourself to get caught up in a few dollars (or even a few hundred dollars) saved on a monthly basis.
“I’ve seen people who sign debt consolidation mortgage contracts that have very low monthly payments, but DO NOT maximize the overall dollar savings through the life of the loan. In the short term, these people think they’ve gotten a great deal. The sad thing is that it takes years for them to realize that those few dollars saved in monthly payments REALLY costs them thousands over the life of the loan,” says Larry. “Suddenly, you’re approaching retirement age, and you realize that this lost money represents a squandered nest egg and a missed opportunity to maintain a lifestyle into your 60’s and 70’s and beyond.”
THE REAL REASONS TO consolidate your debt!
- The interest you pay on a car loan and credit cards is NOT tax deductible. HOWEVER, the interest you pay on a debt consolidation mortgage IS deductable!
- BEFORE you make that car purchase, consider consolidating your debts through a mortgage! Once your debts are consolidated & paid off, your credit score improves. NOW you can get that LOW INTEREST auto loan and save hundreds or thousands on that!
- The money you save on your monthly payments is a great source of investment income! Explore the options of investing in a mutual fund, or even take advantage of this great buyer’s housing market and purchase a second vacation home or other investment property!
- REMEMBER, what you do with the money you save through consolidating your debts is just as important as maximizing your savings. Find out the best way to get the most bang for your saved dollar and speak with a financial planner.
Contact Larry for more important tips on debt consolidation. Let Larry utilize his 20+ years of experience for you and the numerous federal programs at his disposal to TRULY get the most out of your debt consolidating mortgage!
*For straight talk about YOUR mortgage issues,
CONTACT My Mortgage PhD directly!
Home | Bad Credit | Refinance | 2nd Mortgage | Consolidation | FHA Programs | Mortgage Blog / News | About Mtg PhD | Contact Mtg PhD
© 2008 HomeMortgagesPhD.com and MyMortgagePhD.com. All Rights Reserved.
