According to the Federal Reserve, banks are loosening mortgage standards nationwide; and, lenders are now approving more applications than during any period this decade.
The banks aren't getting reckless, though -- they're just coming to realize that standards may have toughened too much after last decade's losses.
This type of credit card charges no interest for a promotional period, often 12 to 18 months, and allows you to transfer all your other credit card balances over to it.
You’ll need a good to excellent credit score — above 690 — to qualify for most cards.
Rolling student loan debt into a mortgage (also known as “debt reshuffling”), allows you to refinance your mortgage with either a new loan or an additional home equity loan.
This especially applies to the prospect of rolling your student loan debt into a mortgage."The Pendulum", as some in the business say, is swinging back to common sense.As a result, lenders now treat credit card debt completely differently then they have in the past, which is helping first-time home buyers and refinancing households.Ideally, that new debt has a lower interest rate than your existing debt, making payments more manageable or the payoff period shorter.Options to consolidate your credit card and other debts include a balance transfer credit card, an unsecured personal loan, a home equity loan or line of credit and a 401(k) loan.
This especially applies to the prospect of rolling your student loan debt into a mortgage.
"The Pendulum", as some in the business say, is swinging back to common sense.
As a result, lenders now treat credit card debt completely differently then they have in the past, which is helping first-time home buyers and refinancing households.
Ideally, that new debt has a lower interest rate than your existing debt, making payments more manageable or the payoff period shorter.
Options to consolidate your credit card and other debts include a balance transfer credit card, an unsecured personal loan, a home equity loan or line of credit and a 401(k) loan.
Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.