Quicken Loans offers conventional and government-program mortgages and refinancing options for loans from eight to 30 years.
Its rates vary greatly by loan situation, so it's best to call a loan officer, but its willingness to work with higher debt-to-income ratios and special programs make it an excellent choice.
Unlike debt restructuring or consolidation where you must take out a new loan to pay your creditors, we simply enable you to make one convenient monthly payment to ACCC instead of making multiple payments to creditors.
For most people it's about saving money and getting back in control, and the black-and-white financial sums are easy enough to work out.
More difficult to deal with are the intangible factors which are related to knowing what sort of borrower you are.
The logic behind debt consolidation loans may seem sound and this type of borrowing can make great practical sense, but you need to beware of the pitfalls that could make it go very wrong. Small loans, payday loans, overdrafts, store and credit card deficits can all charge extraordinarily high rates of interest, while the very best rates are usually only available on bigger loans.
This means that combining all your debt into one consolidation loan could reduce the overall rate you pay, and possibly reduce the overall amount even if you pay over an extended term.
Then we'll work with you to create a workable budget – something you can live with, but one that will help you make significant progress toward your goal of being debt-free.
As part of our debt relief assistance programs, our counselors will frequently recommend consolidating payments on your debts.
Before consolidating, you should note that some lenders may charge exit fees or early redemption charges if you repay ahead of schedule.
That's because they'll lose a chunk of the interest you would have paid if you'd stuck to the original terms.
Most clients in our debt programs find that making one payment per month helps to simplify their finances, reduces the stress of owing money and enables them to stay current with payments more easily.
We'll also contact your creditors to try to lower your interest rates, eliminate late fees and over-limit charges, to reduce your monthly payment and to shorten the amount of time it will take to pay off your debts.
In other words, the investor enjoys the downside protection typically associated with debt lenders, but is also positioned to enjoy the upside opportunity typically enjoyed by equity holders.