Consolidate Debt With A Home Equity LoanWritten by Levetta Rivera
If you are a home owner who is having to borrow from Peter to pay Paul due to a mounting debt load, a debt consolidation home equity loan may be answer. A debt consolidation loan will allow you to consolidate your high interest credit card and consumer loans into one low rate, affordable monthly payment.A debt consolidation home equity loan is a secured loan. Your home will be used as collateral and lender will have a lien on your home until loan is paid off. None less if you are drowning in a sea of debt, a debt consolidation loan can give you a new financial start. It can help you avoid bankruptcy as well as end harassing creditor phone calls. In addition, in most cases your monthly payment will be significantly lower freeing up cash that can be used for savings. It is important that once you obtain your debt consolidation loan that you cut up your credit cards and close out accounts. This will help you to avoid temptation of running up another debt load on your newly paid-off credit cards. If this happens you can find yourself in a situation that is worse than before you consolidated your debt!
| | Common-law misconceptionsWritten by Andrew Stuart of www.yourmoney.com
Arsenal and England soccer star Ray Parlour was recently ordered to pay his ex-wife Karen a third of his earnings for next four years in a high profile divorce case. And this £444,000 a year income was on top of two mortgage-free houses worth over £1 million, plus a lump sum payment of £250,000.While most people don’t earn million plus ‘wages’ of ageing premiership footballers, and will find it hard to comprehend sums of money involved, this case shows that marriage can be a very expensive business – especially if it ends in divorce. However, Government is concerned that Britain’s two million cohabiting couples should also be made aware of their responsibilities in event of them splitting up. Common-law myth The Living Together campaign, through Advicenow.org.uk website and a marriage research charity called One Plus One, sets out to debunk ‘common-law’ myth. The legal status of a common-law wife or husband was actually abolished in 1753, but many people wrongly believe that common law marriages exist and that cohabitees have similar rights equivalent to married couples.
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