article shows you how to "unlock" some of the hidden
cash-flow that exists just by properly consolidating your
loans with your mortgage, the result being that you can realize
thousands and thousands in savings...
me if any of these sound familiar:
Most of your bills just seem to keep getting the better of
you and there is just far too much month left at the end of
What started out as a mole hill of bills has now become
You're constantly borrowing money from one credit card
and/or line of credit to make the minimum payment on another
You're constantly screening your calls to avoid the
You just don't know how you're going to get through
You're tired of saying "no" to your kids
every time they ask for something
You don't want to live like this anymore
everyone who finds themselves in these situations are poor
money managers, more often than not it's the little or in
some cases major emergencies that crop up which have painted
them into this corner! Things like losing a job, an unexpected
illness or injury or the death of a loved one or it could
be a major breakdown of your car.
doesn't matter who you are unless you have a sizable "rainy
day" cash reserve you're going to get soaked! And before
you know it, the monthly payments that were manageable are
now overwhelming. In most cases it's not the debt you've
accumulated that does you in, rather it's the interest on
this debt that's the killer.
you're paying rates in the range of 15% to 30% on those instant
cash plans like credit cards, pay day loans and alike you're
just digging yourself a deeper hole. Because the rates are
so high, so is the interest cost and just paying that is a
battle and once you lose that battle the unpaid interest just
piles on to the principal, which now means, you guessed it
- more interest.
me the Savings!
in a perfect world the ideal solution to paying off your debts
would be to have more income, but lets face it, its
kind of hard to walk into your bosss office and ask
for a 100% increase in your salary, because you need it. It
would certainly be nice however, huh? So that leaves us with
restructuring our debt, by doing this you can have more money
and less month, instead of your current less money and more
month! You can put this extra money to work for you by using
it to pay off more of your total debt and save thousands in
if you currently own a home with equity in it, restructuring
is a real possibility. By using record low mortgage interest
rates to pay off all of those debts with the much higher rates,
you can begin to save both time and money, two things that
will ultimately lead to financial freedom!
let's take a look at some examples of what a mortgage debt
consolidation could look like...
Vic & Judy they are a typical couple who have a home which
is worth $300,000 and a mortgage of $180,000. At an interest
rate of 5.25% and a 35 year amortization period, their monthly
mortgage payments are currently $931 per month.
and Judy also have credit cards with balances totalling $25,000.
Let's say that the average interest rate for the credit cards
is 20%, just paying the interest only is $416 per month.
In addition they both have vehicles that they owe $40,000
combined with payments totalling $852 per month. Their total
debt load including the mortgage is $245,000 ($180,000 + $25,000
+ $40,000) while all of their current monthly payments total
let's see what a restructuring would look like, what if we
were to roll up all of their debts into one new monthly mortgage
payment. Even if we were to keep the interest rate the same
and the amortization the same the new payments would be $1267
per month, that's a savings of $932 per month, money which
would give them much needed breathing room.
let's take a look at how they could really make this work
for them, what if they were to get a 25 year amortization,
they payments then would be $1,460 per month, that's still
saving them $739 per month. Now let's get crazy and say that
Vic & Judy could actually manage their current payments
but what they really wanted to do is get mortgage free sooner
rather than later, they could do a 13 year amortization resulting
in monthly payments of $2163 per month, that's still $36
less than what they're paying now and cutting their mortgage
by 22 years!
isn't it, now can you see why the banks are reluctant to show
you this, the interest you are saving is money that they're
not making. You don't need a Harvard business degree to see
that mortgage debt consolidation makes excellent business
if you're sick and tired of being buried under a mountain
of debt, here is the way out so don't wait another day, get
started today down the road to economic recovery and freedom!