| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 88.1 | | BINKLY::WINSTON | Jeff Winston (Hudson, MA) | Thu Feb 04 1988 11:49 | 6 |
| I'm not sure anyone will offer you a lower-than-their-normal rate on
an unsecured loan merely for debt consolidation. Do you have any
equity (car, house) you can use to secure the loan? This will bring
you a lower rate anywhere/j
|
| 88.2 | Money Stores... | XCELR8::CORMIER | | Thu Feb 04 1988 12:00 | 10 |
| I have seen loan companies advertize debt consolidation loans at
a lower than personal loan rate, but I'm never sure about those loan
companies. I'd prefer to go through a bank or DCU. The idea is
to consolidate a couple of car loans, credit cards, etc into one
loan...thereby saving on the interest and lowering the amount of
money per month committed to "other" bills. Applying for a mortgage
with "other" bills is difficult, at best. Just wondering if anybody
has done this...
Sarah
|
| 88.3 | some suggestions | BAGELS::LEVY | Living life at the margin | Thu Feb 04 1988 13:18 | 8 |
| Any loan with 9 or fewer payments is usually not counted in the
qualifying ratios for mortgages (may help with your car loans).
There are discussions in TALLIS::REAL_ESTATE on strategies to get
one's financial house in order for a mortgage application.
Unfortunately, the best time to get unsecured lines of credit at
advantageous rates is before one goes into debt.
|
| 88.4 | | FSTVAX::STRATTON | Roberta Davidson-Stratton | Thu Feb 04 1988 17:17 | 2 |
| DCU does not offer "Debt Consolidation" loa. Most people take out
a personal loan.
|
| 88.5 | | BINKLY::WINSTON | Jeff Winston (Hudson, MA) | Thu Feb 04 1988 17:35 | 5 |
| One reasonable think DCU CAN do for you is to give you a loan against
your DEC stock - but make sure you understand what happens if the
stock drops (again)
/j
|
| 88.6 | Thanks | XCELR8::CORMIER | | Fri Feb 05 1988 08:31 | 6 |
| Thanks for the input. I guess I'll explore other avenues. I probably
can get a mortgage with the bills I have, but just in case I wanted
to "clean house", rather than take the chance of losing the house
I want.
Sarah
|