Credit Repair and Debt Consolidation

I’ve been a bit absent the last few weeks, and for that I apologize for those watching this forum. The reason is that I’ve been putting the finishing touches on my new book.

If you’ve made the decision to consolidate your debt by taking out a home equity loan, you have a further decision of whether you want to take out a line of credit, or whether you want to refinance your home entirely. Though the most common transaction is the home equity loan, there are advantages to both that you should be aware of, so that you aren’t caught by surprise when you go in to finalize the paperwork. As with most important decisions, the decision should not be made impulsively. Read on.

If you’re deep in debt, getting out of high interest debt can be accomplished by taking out a low interest home equity loan. That should free up money so that more of your payments can go to principal rather than to interest. But there are some drawbacks also, read this article for some ideas before signing on the dotted line: