If Your Credit Card Debts And Loans Are Rising Annually Take Urgent Action Now

Are you noticing that every year your level of debt is rising with mortgages, personal loans, credit cards, store cards, car loans, and school fees? Take stock now and do something before it's too late.

Credit cards and personal loan expansion are a credit rating destroyer. In a tight credit market you are rapidly closing off the options to obtaining help.

Take positive action now to completely eliminate debt. Procrastinate and the solution often will pass you by.

Do you own a home, are not behind in mortgage repayments or having defaults listed on credit reports?

Step one.

Establish your current position of the equity in your home.

Value of home $... Current mortgage $..

If the portion of the loan to the value of the house is less than 80% read on. If not contact a mortgage broker.

Step two

Establish your total debt

Total balance on all mortgages, credit cards, store cards, personal loans, car loans. $.. Total monthly payments on all mortgages, credit cards, store cards, personal loans, car loans $..

Step three

A mortgage broker will assist you through this next process

The broker will need all the above information that you have calculated.

1) The mortgage broker calculates what percentage of debt can be consolidated. 2) The mortgage broker will calculate what will be your consolidated mortgage repayment (the new mortgage). 3) The mortgage broker will ascertain what lender is the most suitable for you to create wealth. 4) Together you estimate the consolidated saving of the debt consolidation. i.e. Old monthly loan payments less the new loan amount equals consolidate debt surplus 5) Commit to paying the consolidate debt surplus into your new loan as an additional LOAN REPAYMENT.

I will now reveal the real power of using the consolidated surplus wisely. This is an example of a person or couple who are employees and all the income is fully taxed.

1) Take your payment on the new mortgage as $1627 per month 2) Take your consolidated debt surplus as $1050 per month. 3) You make the decision to put the $1050 a month into the mortgage each month. 4) Your mortgage is $300,000 5) Interest rate is 5.09% 6) You now have serious financial choices.

Do nothing and pay off the loan in 13 years. In 12 months you would have $12,336 in savings accrued in your mortgage. This is called mortgage equity.

You have the right to use this as you think fit without any ones permission. You can redraw your mortgage equity at any time 1) In 24 months you would have $26,314 in redraw mortgage equity. 2) In 36 months you would have $38,973 in redraw mortgage equity. 3) In 60 months you would have $68,454 in redraw mortgage equity. Now you have a problem.Not a bad one for a change.

You need a financial planner to help you choose the best options of using this money;investments, superannuation, real estate investment.

You have gone from seeing no hope because of rising debts to having to seek professional advice on investments,to say nothing of your credit rating!

Think about this. What other plan do you have that would create this wealth?

1) You are using your mortgage repayments, which you were going to pay anyway. 2) And you are using your old debt repayments WHICH YOU WOULD HAVE HAD TO PAY ANYWAY.

The question now is what would be the attitude around the home if you had $68,454 in accessible cash and no credit cards, or loans?

These are the facts. So don't talk yourself out of seeing a mortgage broker. There is always a plan B. Sitting and doing nothing only increases the stress and anxiety, not a good option. Contact a mortgage broker today and begin your new life.

Fix Up Your Home With A Bad Credit Homeowner Loan

Have you got some home improvement projects in mind but just simply do not have the extra money to work with? You may think that because you have bad credit that you will not qualify for a homeowner's loan to do necessary home repairs of remodeling. Perhaps you have been turned down by stiff-necked bankers who look at your credit score with a frown and tell you absolutely no! Do not lose hope - there are lenders who are willing to give you a chance (and the money you need). Loans of this type are called bad credit homeowner loans.

Make Needed Home Repairs

A bad credit homeowner loan may be used for necessary repairs, such as the leaking ceiling in the family room, the shower stall that needs to be replaced, a new paint job, roofing, or basically any other repair you can imagine. You might also use a bad credit homeowner loan to do remodeling of your current floor plan or even adding a third bath or other addition. What you do with your bad credit homeowner loan is totally up to you!

A bad credit homeowner loan is typically a loan against your home. If you have an existing mortgage on your home, then the bad credit homeowner loan may be a second or even third mortgage for you.

When you apply for a bad credit homeowner loan, you will fill out a basic application that will ask questions regarding your income and your finances. You will be required to present picture identification and other documents that support your application.

Borrow Several Thousand, Or Even More

The amount of your bad credit homeowner's loan is dependent upon how much you need to borrow. You may borrow anywhere from a few thousand dollars to as much as $25,000 (or more in some instances). The lender will usually take out a mortgage against your home to act as collateral for the loan. In certain circumstances, other property, such as a boat or investment/rental property can be used for collateral in lieu of using the home in which you reside.

Build Equity In Your Home

The biggest advantage of taking out a bad credit homeowner's loan is that it helps to build equity in your home by doing remodeling or renovations. In some instances, every dollar that you invest in remodeling will double itself when you have your home appraised. Additionally, the bad credit homeowner's loan also helps you to build a positive credit record when you make timely payments. A bad credit homeowner's loan can be a great positive step towards repairing damaged or bad credit.

Online Bad Credit Homeowner's Loans

There are many online lenders who offer very competitive rates on bad credit homeowner's loans. Because there is stiff competition in this area of lending, creditors tend to bend over backwards to come up with the best terms and conditions to get your business. The online application is very convenient and easy to fill out, and you can be approved in a matter of hours.