Debt Consolidation

Many consumers have credit card debt, car loans, student loans and other installment debt that sometimes seems like it has "creeped up" on them. Add the variable interest rates that keep rising putting more pressure on meeting monthly payment obligations.

We  can speak with you and give an honest assessment of how we can take your installment debt and add that to a new first mortgage or a home equity line of credit (HELOC).

The advantage is lowering your monthly payment and interest rate for the same debt as well as the ability to write off this interest as a mortgage deduction. Consult your tax advisor for specific deductions applicable to your situations.

You might be in an "Option ARM" or negative amortization mortgage (Neg AM) on your home that has recast or will be recasting making your payments go up substancially. We can let you know what your choices are based on the equity in your property, your credit score, income and employment history and with the recent changes in the mortgage industry.

The FHA Jumbo loans that have recently been introduced have more flexibility and are specifically to help borrowers with limited cash for a down payment and with a prior bankruptcy or credit issues.

Even if you think you might have "less than perfect credit" there are still many options available that might save you money. The media coverage has been "mortgage meltdown" but it is affecting a small percentage of the loans outstanding.

Contact us for an honest assessment of your situation.