real estate – Sendika12 http://sendika12.org/ Tue, 08 Mar 2022 20:50:11 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://sendika12.org/wp-content/uploads/2021/10/profile-120x120.png real estate – Sendika12 http://sendika12.org/ 32 32 Will a debt consolidation loan affect my credit rating? https://sendika12.org/will-a-debt-consolidation-loan-affect-my-credit-rating/ Tue, 08 Mar 2022 18:09:05 +0000 https://sendika12.org/will-a-debt-consolidation-loan-affect-my-credit-rating/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. (The Credible Money Coach explains the possible […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

(The Credible Money Coach explains the possible credit impact of a debt consolidation loan.)

Dear Credible Money Coach,

Is it true that when you take out a debt consolidation loan, it hurts your credit? —Twila

Hello Twila and thank you for your question. Debt consolidation affects your credit differently depending on how you structure it and manage loan repayments. This can be a smart way to manage multiple high interest debts without hurting your finances.

If you’re considering a personal loan for debt consolidation, compare rates from multiple lenders to get the best deal. Credible, it’s easy to view your prequalified personal loan rates in minutes.

Why do people consolidate their debts?

When you consolidate debt, you open a new credit account, such as a personal loan, credit card, or home equity loan, to repay several existing debts. This leaves you with one payment instead of multiple accounts to manage.

If you have good credit, you may be able to get an interest rate that’s lower than the combined effective rate you’re paying on multiple debts. This saves money in the long run.

Ways to Consolidate Debt

There are several options for consolidating debt, including:

Each of these options has advantages and disadvantages. For example, personal loan interest rates are generally lower than credit card rates. But if you continue to incur credit card charges, you could go into more debt.

Doing a 0% balance transfer could save you interest for 12 months or more. But if you don’t repay the entire balance before the end of the promotional period, the interest rate could increase significantly.

If you sign up for a debt management plan with a credit counselor, they can negotiate with your creditors to pay less than you owe, lower your interest rate, or extend your repayment period. But if you can’t repay a debt management plan as agreed, your credit may suffer.

The risks of a loan buy-back

A debt consolidation loan can lower your credit scores in the short term. This is because new credit applications cause your scores to drop. And if you use the loan to pay off a credit card and then close it, you reduce your total available credit, which leads to lower credit scores. (It’s best to keep a paid credit card open so you have more credit available in your name.)

However, if you make your new loan payments on time each month, your credit should recover fairly quickly from the slight hit it took when you opened the loan.

Should you get a debt consolidation loan?

A debt consolidation loan is not for everyone. I advise you to think twice before emptying a retirement account to pay off debt or putting your home at risk with a home equity loan or line of credit.

And if bad spending habits are causing your debt, working with a qualified credit counselor to improve your financial habits may be more helpful than lowering your interest rate with a debt consolidation loan.

If you decide a personal loan is right for you, Credible can help. compare personal loan rates from multiple lenders without hurting your credit.

Ready to know more? Check out these articles…

Need Credible® advice for a money-related question? Email our credible financial coaches at moneyexpert@credible.com. A Money Coach could answer your question in a future column.

This article is intended for general information and entertainment purposes. Use of this site does not create a professional-client relationship. Any information found on or derived from this website should not replace and should not be taken as legal, tax, real estate, financial, risk management or other professional advice. If you require such advice, please consult a licensed or competent professional before taking any action.

______

About the Author: Laura Adams is a personal finance and small business expert, award-winning author and host of silver girl, a weekly audio podcast and top notch blog. She is frequently quoted in the national media and millions of readers and listeners benefit from her practical financial advice. Laura’s mission is to empower consumers to live richer lives through her work as a speaker, spokesperson and advocate. She earned an MBA from the University of Florida and lives in Vero Beach, Florida. Follow her on LauraDAdams.com, instagram, Facebook, Twitterand LinkedIn.

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San Diego Mortgage Company offers fast approvals, loan terms and today’s low rates https://sendika12.org/san-diego-mortgage-company-offers-fast-approvals-loan-terms-and-todays-low-rates-2/ Fri, 04 Mar 2022 21:20:05 +0000 https://sendika12.org/san-diego-mortgage-company-offers-fast-approvals-loan-terms-and-todays-low-rates-2/ “San Diego Mortgage Company – Equis Mortgage Group, LLC” Check out a San Diego Mortgage Company, called Equis Mortgage Group, LLC and a San Diego Mortgage Broker, David LePari, for all your mortgage and real estate needs with fast approvals and today’s low rates. today. We were looking for a San Diego mortgage company that […]]]>

“San Diego Mortgage Company – Equis Mortgage Group, LLC”

Check out a San Diego Mortgage Company, called Equis Mortgage Group, LLC and a San Diego Mortgage Broker, David LePari, for all your mortgage and real estate needs with fast approvals and today’s low rates. today.

We were looking for a San Diego mortgage company that offers fast home loan approvalscoupled with great terms and today’s low rates, and we came across Equis Mortgage Group, LLC and San Diego mortgage broker, David LePari.

As a professional mortgage broker, Mr. LePari originates, negotiates and processes residential mortgage loans on behalf of the client. Below is a six-point guide to what services to offer and what to expect from a qualified mortgage broker representing a new local San Diego mortgage company:

1. PROVIDES ACCESS TO MOST HOME LOAN PRODUCTS

This includes the most common types of mortgages such as Conventional, FHA, Jumbo, VA, Reverse, and Refinance, as well as other eligible and non-eligible loan products listed under Additional Loan Types on their website. .

2. FIND THE MOST ADVANTAGEOUS OFFER FOR THE CUSTOMER

A solid and reputable company San Diego Mortgage Company represents its own interests rather than the interests of a credit institution.

They must act not only as an agent, but as a competent consultant and problem solver.

Having access to a wide range of mortgage products, Mr. LePari is able to offer someone the greatest value in terms of interest rates, repayment amounts and loan products.

The best mortgage brokers will go through interviews to identify their short and long term needs and goals.

Many situations require more than just using a 30-year, 15-year, or adjustable rate (ARM) mortgage, so innovative mortgage strategies and sophisticated solutions are the benefits of working with an experienced mortgage broker and M David LePari fits that. profile on the spot.

3. HAS THE FLEXIBILITY AND EXPERTISE TO MEET ITS NEEDS

When we do Equis Mortgage Group their new San Diego mortgage company, one can expect a broker who guides the client through any situation, manages the process, and mitigates obstacles in the road along the way. For example, if borrowers have credit issues, the broker will know which lenders offer the best products to meet their needs.

Borrowers who find they need larger loans than their bank has approved also benefit from a broker’s knowledge and ability to successfully secure financing, for almost any home type and circumstance.

4. SAVE ONCE

With Equis as his San Diego Mortgage Company, all it takes is one application, rather than filling out forms for each individual lender. Mr. LePari and his team can provide a formal comparison of all recommended loans, guiding you to information that accurately outlines cost differences, with current rates, points and closing costs for each loan reflected.

5. SAVE MONEY WITH NO HIDDEN COSTS

A reputable mortgage broker will disclose how they are paid for their services, along with details of the total loan costs.

6. PROVIDES PERSONALIZED SERVICE AND ADVICE

Personalized service is the differentiating factor when selecting a mortgage broker like Mr. David LePari and his team.

We should expect his San Diego Mortgage Broker to help smooth the way, be available for her needs and advise throughout the closing process.

We checked the qualifications, experience and GMB reviews of this San Diego Mortgage Company and asked for referrals and in the end we found a friendly broker and fast team that will match one to the right lender and loan with the best terms and today’s low rates so one can successfully get and quickly get approved for a home purchase or mortgage refinance.

Equis Mortgage Group, LLC NMLS #2009443 / DRE #01438695

David LePari, Broker NMLS #2027739

Media Contact
Company Name: Equis Mortgage Group, LLC
Contact: David Leparis
E-mail: Send an email
Call: (619) 368-0941
Address:11440 BERNARDO COURT WEST, SUITE 300
Town: San Diego
State: California
The country: United States
Website: equismortgagegroup.com/

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San Diego Mortgage Company offers fast approvals, loan terms and today’s low rates https://sendika12.org/san-diego-mortgage-company-offers-fast-approvals-loan-terms-and-todays-low-rates/ Fri, 04 Mar 2022 21:10:00 +0000 https://sendika12.org/san-diego-mortgage-company-offers-fast-approvals-loan-terms-and-todays-low-rates/ “San Diego Mortgage Company – Equis Mortgage Group, LLC” Check out a San Diego Mortgage Company, called Equis Mortgage Group, LLC and a San Diego Mortgage Broker, David LePari, for all your mortgage and real estate needs with fast approvals and today’s low rates. today. We were looking for a San Diego mortgage company that […]]]>

“San Diego Mortgage Company – Equis Mortgage Group, LLC”

Check out a San Diego Mortgage Company, called Equis Mortgage Group, LLC and a San Diego Mortgage Broker, David LePari, for all your mortgage and real estate needs with fast approvals and today’s low rates. today.

We were looking for a San Diego mortgage company that offers fast home loan approvalscoupled with great terms and today’s low rates, and we came across Equis Mortgage Group, LLC and San Diego mortgage broker, David LePari.

As a professional mortgage broker, Mr. LePari originates, negotiates and processes residential mortgage loans on behalf of the client. Below is a six-point guide to what services to offer and what to expect from a qualified mortgage broker representing a new local San Diego mortgage company:

1. PROVIDES ACCESS TO MOST HOME LOAN PRODUCTS

This includes the most common types of mortgages such as Conventional, FHA, Jumbo, VA, Reverse, and Refinance, as well as other eligible and non-eligible loan products listed under Additional Loan Types on their website. .

2. FIND THE MOST ADVANTAGEOUS OFFER FOR THE CUSTOMER

A solid and reputable company San Diego Mortgage Company represents its own interests rather than the interests of a credit institution.

They must act not only as an agent, but as a competent consultant and problem solver.

Having access to a wide range of mortgage products, Mr. LePari is able to offer someone the greatest value in terms of interest rates, repayment amounts and loan products.

The best mortgage brokers will go through interviews to identify their short and long term needs and goals.

Many situations require more than just using a 30-year, 15-year, or adjustable rate (ARM) mortgage, so innovative mortgage strategies and sophisticated solutions are the benefits of working with an experienced mortgage broker and M David LePari fits that. profile on the spot.

3. HAS THE FLEXIBILITY AND EXPERTISE TO MEET ITS NEEDS

When we do Equis Mortgage Group their new San Diego mortgage company, one can expect a broker who guides the client through any situation, manages the process, and mitigates obstacles in the road along the way. For example, if borrowers have credit issues, the broker will know which lenders offer the best products to meet their needs.

Borrowers who find they need larger loans than their bank has approved also benefit from a broker’s knowledge and ability to successfully secure financing, for almost any home type and circumstance.

4. SAVE ONCE

With Equis as his San Diego Mortgage Company, all it takes is one application, rather than filling out forms for each individual lender. Mr. LePari and his team can provide a formal comparison of all recommended loans, guiding you to information that accurately outlines cost differences, with current rates, points and closing costs for each loan reflected.

5. SAVE MONEY WITH NO HIDDEN COSTS

A reputable mortgage broker will disclose how they are paid for their services, along with details of the total loan costs.

6. PROVIDES PERSONALIZED SERVICE AND ADVICE

Personalized service is the differentiating factor when selecting a mortgage broker like Mr. David LePari and his team.

We should expect his San Diego Mortgage Broker to help smooth the way, be available for her needs and advise throughout the closing process.

We checked the qualifications, experience and GMB reviews of this San Diego Mortgage Company and asked for referrals and in the end we found a friendly broker and fast team that will match one to the right lender and loan with the best terms and today’s low rates so one can successfully get and quickly get approved for a home purchase or mortgage refinance.

Equis Mortgage Group, LLC NMLS #2009443 / DRE #01438695

David LePari, Broker NMLS #2027739

Media Contact
Company Name: Equis Mortgage Group, LLC
Contact: David Leparis
E-mail: Send an email
Call: (619) 368-0941
Address:11440 BERNARDO COURT WEST, SUITE 300
Town: San Diego
State: California
The country: United States
Website: equismortgagegroup.com/

Press release distributed by ABNewswire.com

To view the original version on ABNewswire, visit: San Diego Mortgage Company Offers Fast Approvals, Loan Terms and Low Rates Today

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Debt consolidation market by 2029 https://sendika12.org/debt-consolidation-market-by-2029/ Wed, 02 Mar 2022 09:16:18 +0000 https://sendika12.org/debt-consolidation-market-by-2029/ Debt Consolidation market research report provides all the insights related to the industry. It gives the market insights by giving its client the authentic data that helps them to make essential decisions. It provides an overview of the market which includes its definition, applications and developments, and manufacturing technology. This debt consolidation market research report […]]]>

Debt Consolidation market research report provides all the insights related to the industry. It gives the market insights by giving its client the authentic data that helps them to make essential decisions. It provides an overview of the market which includes its definition, applications and developments, and manufacturing technology. This debt consolidation market research report tracks all the recent developments and innovations in the market. It gives the data regarding the hurdles while establishing the business and guides to overcome the upcoming challenges and hurdles.

Get the sample PDF copy (including full TOC, charts and tables) of this report @: https://www.a2zmarketresearch.com/sample-request/367421

Competitive Landscape:

This Debt Consolidation research report sheds light on the major market players thriving in the market; it tracks their business strategies, financial status, and upcoming products.

Some of the top companies influencing this market include: Mozo, Canstar, Credit Repair Australia, Australian Debt Agreements, Think Money, Debt Negotiators, The DCS Group has, Debt Cutter, Sort My Debt, Clear Credit Solutions, Australian Debt Solvers, Australian Lending Center.

Market scenario:

Firstly, this Debt Consolidation research report introduces the market by providing an overview which includes definition, applications, product launches, developments, challenges, and regions. The market is expected to show strong development thanks to stimulated consumption in various markets. An analysis of current market designs and other basic characteristics is provided in the Debt Consolidation report

Regional coverage:

The regional coverage of the market is mentioned in the report, mainly focusing on the regions:

  • North America
  • South America
  • Asia and Pacific Region
  • Middle East and Africa
  • Europe

Market segmentation analysis

The market is segmented on the basis of type, product, end users, raw materials, etc. segmentation helps provide an accurate explanation of the market

Market Segmentation: By Type

Credit card debt, overdrafts or loans, other

Market Segmentation: By Application

Company, Private

Get up to 30% off the first purchase of this report @: https://www.a2zmarketresearch.com/discount/367421

An assessment of the attractiveness of the market with regard to the competition that new players and products are likely to present to older ones has been provided in the publication. The research report also mentions the innovations, new developments, marketing strategies, branding techniques, and products of key players present in the global Debt Consolidation market. To present a clear view of the market, the competitive landscape has been thoroughly analyzed using value chain analysis. The opportunities and threats present in the future for the major market players have also been highlighted in the publication.

This report aims to provide:

  • A qualitative and quantitative analysis of current trends, dynamics and estimates from 2022 to 2029.
  • Analytical tools such as SWOT analysis, Porter’s five forces analysis are used, which explains the ability of buyers and suppliers to make profit-oriented decisions and strengthen their business.
  • The in-depth market segmentation analysis helps to identify existing market opportunities.
  • Ultimately, this debt consolidation report saves you time and money by providing unbiased information under one roof.

Contents

Global Debt Consolidation Market Research Report 2022-2029

Chapter 1 Debt Consolidation Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Production, Revenue (Value) by Region

Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions

Chapter 6 Global Production, Revenue (Value), Price Trend by Type

Chapter 7 Global Market Analysis by Application

Chapter 8 Manufacturing Cost Analysis

Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers

Chapter 10 Marketing Strategy Analysis, Distributors/Traders

Chapter 11 Market Effect Factors Analysis

Chapter 12 Global Debt Consolidation Market Forecast

Buy an exclusive report: https://www.a2zmarketresearch.com/checkout

If you have any special requirements, please let us know and we will offer you the report you want.

About A2Z Market Research:

The A2Z Market Research Library provides market research syndication reports from around the world. Buy-ready syndication Market research will help you find the most relevant business intelligence.

Our research analyst provides business insights and market research reports for large and small businesses.

The company helps its clients to develop business policies and grow in this market. A2Z Market Research is interested not only in industry reports dealing with telecommunications, healthcare, pharmaceuticals, financial services, energy, technology, real estate, logistics, F&B , media, etc., but also your company data, country profiles, trends, information. and analysis on the sector that interests you.

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+1 775 237 4147

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What are the interest rates? How do they work? https://sendika12.org/what-are-the-interest-rates-how-do-they-work/ Mon, 28 Feb 2022 20:29:13 +0000 https://sendika12.org/what-are-the-interest-rates-how-do-they-work/ Interest is the price you pay to borrow money. Stocksnap from Pixabay; Cloth What are the interest rates? Contents When people need to finance major purchases like a house or car, start a business, or pay school fees, they often turn to their bank for a loan. These loans can be short-term, lasting only a […]]]>

What are the interest rates?

When people need to finance major purchases like a house or car, start a business, or pay school fees, they often turn to their bank for a loan. These loans can be short-term, lasting only a few months, but they can also be longer-term, such as mortgages, which have terms of up to 30 years.

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Rapid Population Growth, Land Scarcity and Low Interest Rates Are Fueling Exceptional Price and Sales Surges in the GTA, According to RE/MAX® Canada’s Quarter-Century Market Report https://sendika12.org/rapid-population-growth-land-scarcity-and-low-interest-rates-are-fueling-exceptional-price-and-sales-surges-in-the-gta-according-to-re-max-canadas-quarter-century-market-report/ Wed, 23 Feb 2022 11:00:00 +0000 https://sendika12.org/rapid-population-growth-land-scarcity-and-low-interest-rates-are-fueling-exceptional-price-and-sales-surges-in-the-gta-according-to-re-max-canadas-quarter-century-market-report/ The average price of a home in the GTA has increased by more than 450%, while unit sales have doubled since 1996 MISSISSAUGA, ON, February 23, 2022 /CNW/ — Sales of residential units in the Greater Toronto Area (GTA) have doubled and the average price has risen more than 450% since 1996, as high demand […]]]>

The average price of a home in the GTA has increased by more than 450%, while unit sales have doubled since 1996

MISSISSAUGA, ON, February 23, 2022 /CNW/ — Sales of residential units in the Greater Toronto Area (GTA) have doubled and the average price has risen more than 450% since 1996, as high demand and limited supply continue to drive prices up rapidly in the 416 and 905 area codes, according to a published report today by RE/MAX Canada.

Between 1996 and 2021, more than two million homes have sold in the GTA, representing a dollar volume in excess of $1.1 trillion. The average price has skyrocketed over the 25-year period, reaching nearly 453% from $198,150 in 1996 to $1,095,475 in 2021, at a compound annual growth rate of 7.08%. Statistics Canada reports that the Toronto CMA reached 6,202,225 in 2021, a 45% increase from the 1996 census figure of 4,263,759.

“The performance of the GTA housing market over the 25-year period has been nothing short of remarkable,” says Christopher AlexanderPresident, RE/MAX Canada. This is especially true considering that this period was characterized by the technology crash of 2000, 9/11, SARS, the Great Recession of 2008, from Ontario Fair housing plan and the ongoing pandemic. “Many have raised concerns about the future of housing, given the growing population and scarcity of land in the Greater Toronto Area.”

the RE/MAX Canada Quarter Century Market Report analyzed home buying activity in the nine Toronto Regional Real Estate Board (TRREB) districts that make up the GTA – Toronto East, Toronto West, Toronto Central, DurhamHalton, Peel and York, and Simcoe and Dufferin Counties — and the availability of land, especially in the city’s central and dormitory neighborhoods, has dwindled. This, while migration, low interest rates and affordability continue to play a vital role in the growth of the GTA. Triple-digit increases in sales have been seen in Central Toronto, Halton Region, York Region, Simcoe County and Dufferin County over the past 25 years, while average selling prices have reached new heights in the GTA, with percentage increases between 1996 and 2021, from a low of 301 percent to a high of 874 percent.

New construction has been an important factor in the increase in sales in Halton, Durham, Peel and York, the last two of which are nearing construction. Over the years, the 905 communities have offered affordable alternatives for those looking to purchase freehold properties. Starter homes on smaller lots have attracted many first-time buyers in locations west, north and east of the 416 area code, buoyed by the proposed new expansion of GO train service and a another 400-series highway serving the Northeast/West corridor of the GTA. . The movement brought new life to old communities, forever changing the makeup of towns such as Milton, Whitby, ClaringtonEast Gwillimbury and Innisfil.

“If you build it, they will come, and they certainly did,” says Alexander. “Supported by historically low interest rates, a strong economy, courage and determination, buyers young and old have moved into the dormitories of the city.”

With limited land to build in 905, the focus is now shifting from freehold to high-density homes: landlocked condominiums Mississauga now represent one in two sales, while new condominium developments are planned and proposed for BramptonYork Region (transit-oriented communities) and downtown Pickering.

Over the past quarter century, vertical growth has played a significant role in driving sales numbers within 416, with condominium apartments and townhouses now outpacing freehold sales in Toronto Center, accounting for 76% of sales, according to TRREB data. With the purchase of a large number of vacant lots, parking lots and small commercial/industrial properties, builders and developers are now looking at existing buildings and weighing the pros and cons of demolition. Some have gutted and repurposed existing structures in prime locations, such as the Imperial Oil Building in St. Clair (now Imperial Plaza Condominiums), the former Four Seasons Hotel, and the Sutton Place Hotel (now a residential condominium of 727 units known as La Britannique).

“The GTA’s housing stock continues to evolve based on land availability,” says Alexander. “Builders and developers are facing the harsh reality of a shortage of land, as affordability remains a priority for the vast majority of buyers. While the preference may be freehold, the need to build vertical communities has never been more evident in a city where the population has grown by two million people since 1996 and is expected to increase in the years to come.”

About the RE/MAX network
As one of the world’s leading real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with more than 140,000 agents in nearly 9,000 offices with a presence in more than 110 countries and territories. No one in the world sells more real estate than RE/MAX, as measured by residential transactions. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative entrepreneurial culture offering its agents and franchisees the flexibility to operate their business independently. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars each year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search real estate listings or find an agent in your community, please visit remax.ca. For the latest RE/MAX news Canadaplease visit blog.remax.ca.

Forward-looking statements
This report contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as “believe”, “have the intention”, “expect”, “estimate”, “plan”, “outlook”, “project” and other similar words and expressions which predict or indicate future events or trends which are not statements of historical issues. These forward-looking statements include statements regarding housing market conditions and the Company’s results of operations, performance and growth. Forward-looking statements should not be construed as guarantees of future performance or results. Forward-looking statements are based on information available at the time such statements are made and/or on the good faith belief of management at that time regarding future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties include (1) the global COVID-19 pandemic, which has affected the Company and continues to pose significant and widespread risks to the Company’s business, the Company’s ability to successfully complete the planned reacquisition and to integrate the repurchased regions into its (3) changes in the real estate market or interest rates and the availability of financing, (4) changes in business and economic activity in general, (5) the ability to the Company’s ability to attract and retain quality franchisees, (6) the Company’s franchisees’ ability to recruit and retain real estate agents and mortgage originators, (7) changes in laws and regulations, (8 ) the Company’s ability to enhance, market and protect the RE/MAX and Motto Mortgage brands, (9) the Company’s ability to implement its technology initiatives, and (10) exchange rate fluctuations, have as well as the risks and uncertainties described in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10- Q filed with the Securities and Exchange Commission (“SEC”) and similar disclosures in subsequent periodical publications. and current reports filed with the SEC, which are available on the Investor Relations page of the Company’s website at www.remax.com and on the SEC’s website at www. sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

Except as required by law, the Company does not intend and undertakes no obligation to update this information to reflect future events or circumstances.

SOURCE RE/MAX Canada

For further information: Danielle Scott, APEX PR, [email protected], 416-909-5185; Lydia McNutt, RE/MAX Canada, [email protected], 905-301-5980; Eva Blay-Silverberg, Point Blank Communications, [email protected]416-505-0627

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Using a Home Equity Loan for Debt Consolidation – Forbes Advisor https://sendika12.org/using-a-home-equity-loan-for-debt-consolidation-forbes-advisor/ Fri, 04 Feb 2022 17:43:13 +0000 https://sendika12.org/using-a-home-equity-loan-for-debt-consolidation-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. As a homeowner, you have additional financial responsibility, including mortgage, property taxes, home maintenance, and other expenses. You may also be carrying high-interest debt, such as credit cards. Fortunately, there are ways […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

As a homeowner, you have additional financial responsibility, including mortgage, property taxes, home maintenance, and other expenses. You may also be carrying high-interest debt, such as credit cards. Fortunately, there are ways to pay off your debt faster with help from your home.

A home equity loan allows you to use the equity in your home to consolidate your debts at a lower interest rate. However, this strategy has some drawbacks. Here’s what you need to know.

How a Home Equity Loan Consolidates Debt

Home equity is the difference between what you owe on your home (the mortgage balance) and its current value, usually based on the current appraised value. You cannot get a home equity loan unless you have some equity in your home; lenders usually look for at least 15% equity in order to lend them to you.

The more you pay to your lender, the more your capital increases. Another way equity increases is when the overall real estate market is healthy and home values ​​(or sale prices) in your area increase. A home equity loan allows you to borrow against that equity in the form of a lump sum installment loan.

This money can be used for a variety of purposes, such as renovating your home, paying for college, covering emergency expenses, and consolidating debt.

Home equity loans are a good debt consolidation tool because the interest rates are quite low compared to other forms of debt. Once your home equity loan is closed and you receive your funds, you can use the money to pay off your existing debt and then make a one-time payment to your lender until the loan is paid off, usually on a period of five to 20 years.

Advantages and Disadvantages of Using a Home Equity Loan to Consolidate Debt

When deciding whether or not to use a home equity loan to consolidate your debt, you should first consider a few important pros and cons.

Advantages

  • Lower interest rates: If you’re looking for ways to borrow money or consolidate debt, a home equity loan offers some of the lowest rates available. Currently, their annual percentage rate (APR) is around 4% to 6%. Personal loans and credit cards, on the other hand, often have double-digit interest rates.
  • Easy access to financing: Although there are certain income and debt balance requirements that you must meet, a home equity loan is generally easier to obtain than other types of debt. This is partly because your property serves as collateral, so there is less risk to the lender than an unsecured loan, which has no assets used as collateral, as they can repossess the collateral. in the event of a defect. Therefore, the lender is more willing to offer a home equity loan.
  • Tax deduction potential: You may be able to write off some of the interest you pay on your home loan. However, you can only take advantage of this deduction if you use the money to pay for home improvements. If home renovations are part of your larger financial plan, it may be worth relying on a home equity loan rather than a credit card, especially if you’re also trying to pay off your high-interest debt.

The inconvenients

Is a home equity loan the best way to consolidate debt?

If you’re in a strong financial position, leveraging the equity in your home to get rid of high-interest debt faster is a smart move. However, if you don’t plan to stay in your home for long or are unsure whether your income will be stable throughout the repayment period, you may be better off choosing another method of debt consolidation.

Other Debt Consolidation Options

There are several ways to consolidate your high interest debt without risking your property.

1. 0% Balance Transfer Cards

To attract new business or issue cards to existing customers, credit card companies often offer a 0% initial APR to customers who roll over the balance on their existing credit card, usually from a competitor.

The introductory period typically lasts 12-18 months, during which this balance incurs no interest charges. This means that your payments go 100% towards paying off the principal balance, allowing you to get rid of this debt faster. Usually there is a 2% to 5% balance transfer fee up front. The key is to pay off your balance before the end of the introductory period or you’ll start racking up interest charges again.

2. Take out a personal loan

Personal loans, which are loans you can use to pay almost anything up to a predetermined amount, can also help consolidate your debt. Rates are generally lower than credit card rates, at least for borrowers with good credit.

There are two types of personal loans: secured and unsecured. Secured loans are secured by collateral, such as a bank account or vehicle. This helps reduce the lender’s risk, which results in a lower interest rate. Unsecured loans allow you to borrow money without providing collateral; the trade-off is that the rate may be a bit higher and you may be subject to stricter requirements.

3. Develop a debt management plan

If you’re having trouble making payments on unsecured debt, such as credit cards or personal loans, you might consider working with a nonprofit credit counseling agency to develop a debt management plan. debt (DMP). An accredited advisor will take care of your payments and negotiate with lenders on your behalf to reduce the cost of your debt. You will then make your reduced payments directly to the agency and receive regular progress reports. Registration for a DMP may be chargeable.

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