Is it possible to do a debt consolidation loan for a current mortgage loan, auto loan, and personal loan?
Wednesday, February 15th, 2012 at
5:33 am
Question by squirrel9707: Is it possible to do a debt consolidation loan for a current mortgage loan, auto loan, and personal loan?
Best answer:
Answer by golferwhoworks
I don’t know enough to answer — but yes you can if you have enough equity in your home and the credit to do so. — But I would not like to see an auto loan (depreciating asset) in a home mortgage (appreciating asset).
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Tagged with: Auto • Consolidation • current • Debt • Loan • mortgage • personal • possible
Filed under: Debt Consolidation Personal Loan
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if you have enough equity on your house you can get a home equity loan to pay off the personal and auto loan.
It could be. I’d suggest you inquire at your bank. You may also want to see whats offered by reputable online companies – perhaps try a site like
http://www.creditcarddebt-consolidation.org/
and compare whats offered.
Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loanold loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so you’ll no longer have to deal with harassing phone calls and daily mail.