Mortgage rates are still at all time lows here in California, making it a great time to look into a debt consolidation loan. A debt consolidation loan can drastically reduce your total monthly payments, eliminating credit card, auto and other revolving debt. Just look at the example below.
| Current Debt |
Debt Balance |
Monthly Payment |
| CaliforniaAuto Loan |
$16,000 |
$450/month |
| Credit Card Debt |
$9,000 |
$250/month |
| California Student Loan |
$10,000 |
$250/month |
| Current California Mortgage |
$250,000 |
$1500/month |
Total monthly payments before our debt consolidation loan = $2450/month
Total monthly payments after our debt consolidation loan ranging from $682 up to $1618 per month.
Not only will this debt consolidation loan get rid of your revolving debt, but it can also allow you to take additional cash out, for any reason.
