Use debt consolidation to qualify for a mortgage carefully
Consider the use of debt consolidation to qualify for a mortgage very, very carefully. Follow these tips to avoid being one of the 85 percent who fail debt consolidation.
- Debt consolidation can lower your debt payments, allowing you to qualify for a larger mortgage
- Debt consolidation can be a home equity loan, debt management plan, or unsecured financing like personal loans or balance transfer credit cards
- Consolidating your debts can extend your repayment and increase your costs
Debt consolidation works for a small percentage (about…
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