Don't know what a Debt Consolidation Loan is?

A Debt Consolidation Loan is to allow you to literally pay off all your debit in one bill rather than many. At Kelli Brook Mortgage, we offer a Debt Consolidation Mortgage Loan. This is a secure loan, based on the value of your home. Because it is a secure loan, you can get much lower interest rates than if you were to get a unsecured loan. When you choose a home equity loan over other debt consolidation, you can recieve a tax-deduction on the loan, making the idea of being debt free just a little easier. Your credit scroe also in not affected in this method. Keep reading on if you have more questions, or get a Debt Consolidation quote today!

Frequently Asked Questions

Q: How much can I borrow on my home? A: You can get a loan for atleast 80% of the house value, and some lenders actually will loan out up to 125% of the houses value. Q: Can I get a loan if my house is for sale? A: No, you only can get a loan if you are of ownership of the house, and has been off the market for atleast 90 days. Q: Does my home require an appraisal to get the loan? A: Yes, but in most cases of loans under 250,000 your house only requires a partial appraisal.

Other ways to get out of debt

Although we believe a debt loan consolidation mortgage is your best choice in becoming debt free, we understand that you want to know your other options. You could also settle or negociate with the creditors. Creditors will want to negociate with you if they feel that they will not be paid otherwise. The only issue is that this method will mostlikely hit your credit score. Another method is of course bankruptcy, which is your last resort. With a debt consolidation loan, you can keep your current credit score, and actually get out of debt.