Debt Consolidation

No Hassles. Just Consolidations.

We can save you money when it comes to Consolidating your debt.

We match you with a loan officer that cares as much as you do.

How It Works

We Get to Know You!

Tell us about yourself in a few questions. Your info is secure with us.

Speak to a Loan Officer

Speak to our knowledgeable loan officer about your specific goals.

Calculate debt/Pre-Approval

which our loan officer you will find it easy to calculate your debt.

Close your Loan

Close your loan, lower your interest and take that chip off your shoulder.

Debt Consolidation Services

Throughout your life, you may take on multiple debts. Most people have at least three debts at any given time: a home mortgage, a car loan, and a credit card. Whether you have these three, more debts, or fewer, there may come a time when you struggle to pay each of these bills every month. Instead of defaulting on your loans, consider mortgage consolidation.

Mortgage and debt consolidation services offer you a way to combine your debts into one monthly payment.

Your Consolidation Options

At HomeMortgage.com, we can help you find lenders and debt consolidation services that work for your specific financial situation. Every household has different financial needs, which is why we work with a selection of lenders to find mortgage consolidation options for our customers.

Whether you’re consolidating your mortgage with another debt, such as a credit card, or are combining two mortgage payments, we can help you find something that will work. Even if you don’t have great credit, debt consolidation can help you get things paid off faster, which can help your credit recover.

To learn more about our debt consolidation services, keep reading. If you’re ready to get started with your consolidation, you can fill out this form so we can get started finding a local lender who can help you.

Refinance with some of the lowest rates in decades, and get cash to pay off your high-interest debt. Don’t wait – these low rates won’t last forever!

One Low Monthly Payment

Make one low monthly payment instead of several, and pay less overall every month. Unlike credit card interest, the interest on your mortgage is usually tax deductible.*

Less than perfect credit is ok

Even if you have less-than-perfect credit, we can help. Paying off your higher-interest debts faster can improve your credit rating. Find out if you could lower your monthly payment or take cash out to access money for your other bills.

Two Mortgages?

Interested in consolidating two mortgages? We can help you refinance both loans into one with a low rate that could significantly reduce your monthly mortgage payment.

Pay off High Interest Debt

Refinance with some of the lowest rates in decades, and get cash to pay off your high-interest debt. Don’t wait – these low rates won’t last forever!

Ready to Talk?

Reduce Your Monthly Bills With Debt Consolidation

 

First, an overview of what debt consolidation actually is.

 

Debt Consolidation is a form of debt refinancing by taking out a loan in order to pay off other loan payments. This is most commonly used when talking about the high debt of consumers, but also refers to when a country takes a fiscal approach to paying off its government and corporate debt. The majority of the consumer debt comes from having car payments, home mortgages, student loans or other forms of debt such as credit card debt. These debts are owed to a debtor who is the person or entity in charge of making sure that debt is paid off within a certain length of time at a certain interest rate. There are of course many options for you if this is something that pertains to the situation you find yourself in.

A big question that is frequently asked is “should I get a debt consolidation loan?” What situation would be the best and most appropriate for you to consider if debt consolidation is best for you? If you find yourself in a situation where you have a lot of debt piling up, it may be a good time to look at debt consolidation. This is especially true if you are struggling with a home mortgage, student loans, car payment, or anything that you are having trouble paying off.

If you aren’t sure whether or not you may be eligible for consolidation you can use our services to help you determine what your best options are. We can help point you in the right direction and provide valuable advice about how you can rerduce your debt.

Credit card debt is a problem that many people suffer from. While it is very tantalizing to get Debt Consolidation for your credit card debt is it the best idea? You should always stop and do the math to see if consolidation is right for you. And yes, while Debt Consolidation will help you potentially save time and money it may not always be the right thing for you at this moment in time.

When is it a good idea to get Debt Consolidation?” is another commonly asked question. While it may be tempting to try to find a good debt consolidation company onm your own, sometimes they don’t always help you make the right decisions. If you are considering debt consolidation, keep the following in mind:

  1. Your debt can’t exceed more than 50% of your income
  2. Your credit must be good enough to qualify for a 0% credit card or low-interest debt consolidation loan
  3. The amount of income you make can completely cover the debt payments
  4. You have to be able to prevent yourself from getting back into debt

While debt consolidation is a great strategy to get yourself the help you need with your debts, it is not always the perfect answer. It will not help you if you are generally irresponsible with your money and spending habits, nor will it help you if you are so deep in debt that there is no way of you getting yourself out even if you have very reduced payments. If you have a low amount of debt that can be paid in a short amount of time, perhaps less than a year, then you will only save a very small amount by consolidating. If the total of your debt is more than half of your income you are better off seeking debt relief. There are also other options that you can try like the DIY method using the Debt Snowball or Debt Avalanche methods. These are both different types of debt calculators that can help save you time and money when paying off your debts.

The process of getting consolidation is fairly simple. Most debt consolidation loans are offered through lending institutions and are treated as a second mortgage or home equity line of credit. These types of loans require you to put your home up as collateral and the loan must be lower than the equity that is available.

The way it works is that if you are eligible you will receive a 0% credit account with all of your debts put onto it. You will have a certain amount of time to pay that debt off in full within a promotional period. You can also use the loan to immediately pay off your debts then you may pay off the debt consolidation loan over a set period of time. There are a few other ways you can get debt consolidation such as a Home Equity Loan or 401(k) Loan.

We mentioned that student loans are a common reason to get debt consolidation. This is especially true in this day and age where college schooling is becoming more and more expensive as time goes on. In a Federal Student Loan Consolidation, the current loan is purchased by the Department of Education (DOE). Once the consolidation is complete there is a fixed rate that is set based on the current interest rate. Note: a re-consolidation does not change that existing rate. If the student has multiple types of loans all together, there will be a new fixed rate that will be created using the average of all the fixed rates the the individual loans. If you are living in a foreign country though, the process of getting debt consolidation for your student loans may be different. For example, if you live in the United Kingdom you are guaranteed consolidation for your loans and your interest rate is based on your potential future salary depending on the field of study you plan on going into. In Australia, however, it is more strict and you only have 15 years to pay off all existing student loans and you may face arrest if you try to leave the country. In Japan, obtaining consolidation is all based on academic performance. If you aren’t doing very well in school you are less likely to get a loan or consolidation.

Call Home Mortgage if you have any questions at all.

Home Mortgage serves all of the following areas in Maricopa County.

  • Phoenix
  • Glendale
  • Scottsdale
  • Mesa
  • Chandler
  • Queen Creek
  • Maricopa
  • Carefree
  • Peoria
  • Surprise
  • Sun City West
  • Goodyear
  • Litchfield Park
  • Tolleson
  • Waddell
  • Komatke
  • Guadalupe
  • Paradise Valley
  • Casa Blanca
  • Chandler Heights
  • Sun Lakes
  • Santan
  • Cave Creek
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