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Common
Mortgage Questions:
 How
Do I know how much
house I can afford?
How
do I know know which
type of mortgage is best
for me?
What is your best
interest
rate?
Once
I am approved, how
long will it take to
close my
loan?
Do
you work with only
one lender?
What
does my mortgage
payment include?
How
much cash will I need
to purchase a home?
How
can I reduce my debt
with a mortgage?
How
are index and margin
used in an ARM?
What
is the difference
between a fixed-rate loan
and an adjustable-rate
loan?
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Mortgage Answers: How can I
reduce my debt with a mortgage?
There are many
ways to reduce your debt with a mortgage!
* The Federal
Reserve recently reported that consumer credit
increased at an annual rate of 4.5% in the first
quarter of 2007 -
nearly half of which was costly credit card debt.
*
According to industry tracker BankRate.com, the average credit
card interest rate has climbed to above 14.5%
annually. What's
concerning is the rising amount of outstanding debt per
person,
which is now closing in on ten thousand dollars!
*
Using these recent statistics, it would take nearly an entire
decade to pay off just one ten-thousand dollar
credit card loan
when making the monthly payments.
*
Check for yourself and you'll see that your home's mortgage interest
rate is
probably lower than the rate of all your other
debts. It only makes sense to
borrow at the lowest interest rate, whenever
possible. Why would you want to
give more money to your credit card company or
auto loan company?
LakeNormanLoans.com Group
will help you end the cycle of perpetual debt!
If you are now
paying interest on credit card loans, car loans, and personal loans,
for example you can reconsider your options.
We'll show you how to borrow against the equity in your home and
save more money while paying lower taxes. Even if you have no
outstanding debt, having access to your home equity will save you a
bundle when the inevitable lifetime emergency occurs and you need to
borrow money.
We are always here to answer your questions and to help you through this
process.
info@ifmghomeloans.com
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