Want to consolidate debt or pull cash out?
Debt Consolidations loans are great for:
- Paying off high interest rate credit cards
- Combining 1st and 2nd Mortgages into one loan
- Home improvement projects
- Financing College educations
Debt consolidation loans are designed to utilize the equity in your home to pay off outstanding debt, complete home improvement projects, combine 1st and 2nd mortgages, fund college educations or even pay for that dream vacation. Most debt consolidation loans today however are used to pay off existing credit card debt, which is certainly becoming more and more of a burden to the average American.
Did You Know...
- Americans put a record 2-trillion on their credit cards last year - more than the size of the entire Canadian economy.
- Late fees have become a booming business for financial institutions. U.S. banks pocketed $14.8-billion (U.S.) in penalty fees on credit card loans last year, up from $10.7-billion in 2003.
- Total consumer credit: $1.7 trillion.
- Credit card debt carried by the average American Family: $17,562.
- Total finance charges Americans paid in 2001: $50 billion.
- Number of credit card holders who declared bankruptcy last year: 1.59 million.
- Last year's total debt per person was $136,479 (up $7,900 over last year's $128,560); this compares to $27,084 in 1957 (both measured in inflation-adjusted 2004 dollars). That's a debt excess of $109,395 per man, woman and child.
- Three of five American families can't pay off their credit cards each month. Their running balance averages about $12,000, which is one-fourth of the median household income.
homesandloanscolorado.com specializes in helping clients consolidate debt with unique mortgage refinancing programs. Each program is always shaped to tailor fit each and every client situation. Our clients have saved from $300 to $1000 each and every month by financing consolidation loans with HomesandLoansColorado.com.
To apply for a debt consolidation loan click here or contact us for a free consultation.
|
