Steve and Sherry

Colorado Springs Real Estate

Posts Tagged ‘loans loans’

Advantages And Disadvantages Of The Reunification

The unstoppable rise in the prices of apartments, the rise in mortgage fees and maintaining high rates of consumption have led many families to be unable to meet its financial commitments. According to estimates by the Foundation of Savings Banks (FUNC), the rate of household savings by year-end to reach the lowest level in its history. They believe that the savings will be at only 7.4% of household income. Advantages of Pay one monthly fee. A related site: Robert Speyer mentions similar findings. Monthly pay significantly less.

Reduction in which financial interests in consumer products. Alternative to a situation of imminent or seizure auction. Disadvantages of debt reunification reunified The new loan will have a longer duration. Alternatives to debt consolidation Consult with our bank if we compensate for a possible extension of the mortgage compared to consolidate debts. Currently, there are households with a net income of 1,500 euros, they have to pay every month from more than 1,300 euros mortgage, car and consumer loans.

An untenable situation. One possible solution to this situation the proposed intermediaries or “brokers” of banking products. The new financial formula is the consolidation of debts, an instrument that is to group all loans that we have into one mortgage type. The product starts charging more and more interest at the high household indebtedness. But is it really an attractive financial option or is it just a desperate solution to get by? In general, this new formulation can be an outlet for families who have exhausted their bank credit or have seen their incomes fall. The drawback is that, even if paid interest and lower fees, the owners bear the new credit more time. The main peculiarity of debt consolidation is that, to take the type of mortgage, the new loan is granted for a longer period and lower interest rates than personal loans. Indebtedness I’ll also be higher, since in addition to the debts, the loan holder must pay the costs of the new operation and will be paying for longer. However, just paying a monthly fee rather less. The new product allows you to change personal loans to 8%, or so-called fast loans to 20% for a single loan, mortgage rate, an interest of around 4%.