Debt Consolidation Secured Loans—What Are Your Options?
If you're looking for a way to consolidate your debts, a secured loan may be a good choice. Debt consolidation loans make it easier to control your debt—you just make one monthly payment. Additionally, you can pay off delinquent accounts and begin repairing your credit. If you've found yourself in thousands of dollars of debt, a consolidation lender may require that your loan be secured. This article will discuss the different options you have in securing a debt consolidation loan:
Top Recommended Companies To Refinance With:
(updated ):
Act Now! Lower your monthly mortgage payment!
- Competitive rates and no hidden fees
- Bad Credit OK
- New Purchases, Home Equity & Refinance
- One dedicated mortgage banker from first call to closing
- Quick Application with worthwhile results
If you are looking for a mortgage loan but have "less than perfect credit" this company has options for people with credit problems. Complete a short form and get one dedicated mortgage banker from first call to closing with a simple, straightforward process.
Mortgage rates are still low. Refinance & Lower Your Payment!
- Get Started on a Lower Payment Now!
- America's #1 Online Lender
- Save More and Spend Less!
- No Obligation and Free Expert Advice Another Great "bad-credit" Mortgage Company! QuickenLoans is also a competitive mortgage company for people with all types of credit including poor credit. Refinance or get new mortgage offers from this reputable Web based mortgage lender.
Helpful Loan Tips:
- Apply with more than one company to compare offers.
- Study your options before committing to a debt program.
- Cut out small luxuries to pay down debt at the beginning of your debt reduction program.
Borrow On an Investment Account
If you have a 401K or whole-life insurance plan, you may be able to borrow on the amount of money you've put into the account. However, it's important to remember that you're putting your life insurance or retirement plan at stake.
Borrow On the Equity in Your Home
Another option is to take out a home equity mortgage. A home equity mortgage allows you to borrow money on the equity you have in your home. However, home equity mortgages use your home as collateral, so, if you cannot repay the loan, you could lose your home.
Use a Valuable Possession as Collateral
Certain lenders offer title loans on things such as cars, boats, etc. If you own any of these things, you may be able to use them to secure your loan. However, title loans generally have higher interest rates than the other secured loan options.
If you are struggling with debt, a secured consolidation loan may be your best option. Secured loan interest rates are considerably lower than most unsecured debt consolidation loans.
Recommended Debt
Consolidation Companies:
Top Recommended Companies To Refinance With:
(updated ):
Act Now! Lower your monthly mortgage payment!
- Competitive rates and no hidden fees
- Bad Credit OK
- New Purchases, Home Equity & Refinance
- One dedicated mortgage banker from first call to closing
- Quick Application with worthwhile results
If you are looking for a mortgage loan but have "less than perfect credit" this company has options for people with credit problems. Complete a short form and get one dedicated mortgage banker from first call to closing with a simple, straightforward process.
Mortgage rates are still low. Refinance & Lower Your Payment!
- Get Started on a Lower Payment Now!
- America's #1 Online Lender
- Save More and Spend Less!
- No Obligation and Free Expert Advice Another Great "bad-credit" Mortgage Company! QuickenLoans is also a competitive mortgage company for people with all types of credit including poor credit. Refinance or get new mortgage offers from this reputable Web based mortgage lender.
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