Consolidating home and auto loans
Here’s the most important consideration: If you lose your job or take out a refinancing loan that you can’t afford, you are much more likely to lose your house than if you were to declare bankruptcy due to excessive personal debt. Your housing expenses should not be more than 30 percent of your total post-tax income.
Comments may be held for moderation and will be published according to our comment policy.Generally, 15-year mortgages will have interest rates that are about one-half to one percent lower than will 30-year mortgages, as the quicker repayment period reduces the risk to the bank.However, as the time period of the loan is compressed, the overall payment will usually be substantially higher.Your credit score is good enough to get a good interest rate.Money Under 30 has everything you need to know about money, written by real people who've been there.
Mortgage payments, credit card bills, boat payments -- if only there was a way to tie all these debts together into one, easy, monthly payment.