Debt Consolidation - Many people are in debt struggling to pay their monthly bills. Most people are looking for help in creating a debt consolidation plan in hopes to be able to afford their payments and still be able to live. Some people will go to a consumer credit counseling agency, but many people are learning how to do it on their own.
Having a debt consolidation plan, individuals can determine the best way to get out of debt. There are so many different methods to getting out of debt, but all of them require you plan it out and budget it correctly. This will also help the individual to stay out of further debt.
Click here to read the rest of this debt consolidation article...
Sunday, September 26, 2010
Thursday, September 16, 2010
Drop in Interest Rates
The banks have dropped their prime lending rate to 9.5%. What does that mean for you? Well, your R500 000 home loan will no longer cost you R4785pm but R4624pm
R750 000 home loan will no longer cost you R7177pm but R6936 pm
R1 000 000 home loan will no longer cost you R9570pm but only R9248pm.
This also means that if you want to refinance or take out a 2nd bond you'll qualify for a little bit more - now is the time, contact us today: http://globalproperty.co.za/contactus.html
R750 000 home loan will no longer cost you R7177pm but R6936 pm
R1 000 000 home loan will no longer cost you R9570pm but only R9248pm.
This also means that if you want to refinance or take out a 2nd bond you'll qualify for a little bit more - now is the time, contact us today: http://globalproperty.co.za/contactus.html
Saturday, August 28, 2010
Monday, June 21, 2010
Want A 2nd or 3rd Bond? Be Careful!
If you are considering taking our a 2nd or 3rd bond to consolidate your debt, make sure you work with a professional home loans consultant.
There a quite a few pitfalls and traps one could walk into if you are not careful.
1) Debt Consolidation Pitfall 1 - Refinance
Many people wanting to consolidate debt want to take a 2nd bond, and unknowingly actually refinance. Now, that's not a bad thing if you are told upfront and you know what you're letting yourself in for, but if you didn't know, and now you start paying a bond all over at 20 years again, you'll be very angry.
Tip: If you don't want to refinance, tell your debt consolidation expert that you want the 2nd or 3rd bond to run along with the original bond.
2) Debt Consolidation Pitfall 2 - Fall Back into Debt
If you have taken a bond to pay off your debt, you already have an additional amount to pay. Don't fall into the trap of thinking that you now have all this credit available on those credit cards and that you can start spending again. If you do you'll have the same debt burged plus the additional payment of the 2nd bond.
Tip: If you have paid off your credit cards, cut up the cards and close the accounts. If you feel you absolutely must have one for emergencies or for your petrol expenditure, close all but one.
Remember, consolidating your debt into your bond is a good thing, if you take the wise route and avoid the pitfalls mentioned about.
For more tips or if you want to consider responsible debt consolidation loans, contact your debt consolidation expert today.
There a quite a few pitfalls and traps one could walk into if you are not careful.
1) Debt Consolidation Pitfall 1 - Refinance
Many people wanting to consolidate debt want to take a 2nd bond, and unknowingly actually refinance. Now, that's not a bad thing if you are told upfront and you know what you're letting yourself in for, but if you didn't know, and now you start paying a bond all over at 20 years again, you'll be very angry.
Tip: If you don't want to refinance, tell your debt consolidation expert that you want the 2nd or 3rd bond to run along with the original bond.
2) Debt Consolidation Pitfall 2 - Fall Back into Debt
If you have taken a bond to pay off your debt, you already have an additional amount to pay. Don't fall into the trap of thinking that you now have all this credit available on those credit cards and that you can start spending again. If you do you'll have the same debt burged plus the additional payment of the 2nd bond.
Tip: If you have paid off your credit cards, cut up the cards and close the accounts. If you feel you absolutely must have one for emergencies or for your petrol expenditure, close all but one.
Remember, consolidating your debt into your bond is a good thing, if you take the wise route and avoid the pitfalls mentioned about.
For more tips or if you want to consider responsible debt consolidation loans, contact your debt consolidation expert today.
Monday, March 22, 2010
Debt Consolidation Loan
Calling all home owners and non-home owners - if you want to consolidate your debt but you are blacklisted - contact us because we can still help you.
Of course, there are some rules, but we can help the majority of people (not debt review or administration unfortunately)
So why not contact us for a debt consolidation loan today.
Of course, there are some rules, but we can help the majority of people (not debt review or administration unfortunately)
So why not contact us for a debt consolidation loan today.
Friday, January 8, 2010
Home Loans: Pitfalls of Refinancing Too Often
SA Home Loans: There are times when it make sense to refinance you home loan like when you are lowering your interest rate enough to make a noteworthy difference in your mortgage payments or when you significantly decreases your loan term.
Another benefit is you need to consolidate your debt to improve cash flow. However, do not make the mistake of converting short term debt into long term debt. Rather keep the repayment short so that you can derive the maximum benefit from refinancing.
You have to carefully consider if refinancing your home loan will be beneficial to you not just in the short term, but over the long term too.
One mistake that a lot of people make is that instead of making refinancing a once off event , they apply for a refinance loan every time there is a little bit of equity available.
Some think that if they consolidate some of their high interest debt in the process that they’re basically debt free. However, except for decreasing your equity each time you refinance you are also increasing your home loan debt.
Instead of paying off your mortgage debt you have increased your loan term. If you refinance too often, although your monthly payments may go down it will cost you a lot of money over the long term.
Keep in mind that in the beginning of your home loan the largest part of your payment goes toward interest and not towards the reducing your capital. So, if you refinance too often you’ll end up paying the maximum interest for a very long time.
If you want to protect your equity use it as wisely as possible.
To find out more perks and pitfalls on SA Home Loans, visit our website through the links.
Another benefit is you need to consolidate your debt to improve cash flow. However, do not make the mistake of converting short term debt into long term debt. Rather keep the repayment short so that you can derive the maximum benefit from refinancing.
You have to carefully consider if refinancing your home loan will be beneficial to you not just in the short term, but over the long term too.
One mistake that a lot of people make is that instead of making refinancing a once off event , they apply for a refinance loan every time there is a little bit of equity available.
Some think that if they consolidate some of their high interest debt in the process that they’re basically debt free. However, except for decreasing your equity each time you refinance you are also increasing your home loan debt.
Instead of paying off your mortgage debt you have increased your loan term. If you refinance too often, although your monthly payments may go down it will cost you a lot of money over the long term.
Keep in mind that in the beginning of your home loan the largest part of your payment goes toward interest and not towards the reducing your capital. So, if you refinance too often you’ll end up paying the maximum interest for a very long time.
If you want to protect your equity use it as wisely as possible.
To find out more perks and pitfalls on SA Home Loans, visit our website through the links.
Wednesday, December 16, 2009
Home Loans Under Water
Many home owners are in arrears with their home loan installments or other accounts and they would like to apply for a bond to consolidate their debt. Sometimes it seems the banks just don't want to help.
It seems that the banks want to give you an umbrella when the sun shines, but when it rains they take it away....
Take heart, there is a solution where a home owner can get a home loan even if his accounts are in arrears.
There is a company you can be referred to that will advance a sum of money to pay off your debts and then clear your record. The debts are settled within the first month and the process of removing listings from the credit bureau takes 3 - 4 months.
Then they hand your file back to your home loans broker to do a regular bond at the bank because you now have no debt and a clear record. With the bond, the company is paid back their money plus interest (that's how they make their money) and you only have your bond and car (if applicable, because they don't settle cars) to pay.
This is nothing negative on your record and is not administration or debt review - it will actually clear your record.
For more information on these types of home loans, don't hesitate to contact us by visiting our website on http://www.gpfmortgage.co.za/home-loans.html
It seems that the banks want to give you an umbrella when the sun shines, but when it rains they take it away....
Take heart, there is a solution where a home owner can get a home loan even if his accounts are in arrears.
There is a company you can be referred to that will advance a sum of money to pay off your debts and then clear your record. The debts are settled within the first month and the process of removing listings from the credit bureau takes 3 - 4 months.
Then they hand your file back to your home loans broker to do a regular bond at the bank because you now have no debt and a clear record. With the bond, the company is paid back their money plus interest (that's how they make their money) and you only have your bond and car (if applicable, because they don't settle cars) to pay.
This is nothing negative on your record and is not administration or debt review - it will actually clear your record.
For more information on these types of home loans, don't hesitate to contact us by visiting our website on http://www.gpfmortgage.co.za/home-loans.html
Subscribe to:
Posts (Atom)