Attention Home Owners: Better Loan Solutions For Credit Card Debt Consolidation

In every neighborhood I visit around the country, there are still people who play the "game credit card balance transfer. Everyone knows that Americans like to spend money with credit cards, and when rates rise, people seem to think that the transfer of their credit card balances to credit card companies will help you solve your debt problems . The banks have issued credit card offers low intro rates to get your business. Once they have your business, watch out, because the honeymoon will probably be a quick night table. The credit card companies tend to raise interest rates too quickly. Another problem with the play of transferring the balance is that once the balance gets larger, many businesses that issue credit cards no balance transfer accept or whether they are willing to accept that at a higher rate. If you own a house, then I suggest you consider a debt consolidation loan or second mortgage. Homeowners should take advantage of low mortgage rates. Another good reason to pay off credit card debt with a loan secured by mortgage, is the bonus you get with the tax deductions allowed by a mortgage on a house of a principal residence up to 100% of the value of the house. I am not an accountant, but in my experience, interest credit cards would not be a tax deduction unless the debt is converted into a mortgage. If you take my advice and get a second mortgage debt consolidation, then ask for a fixed rate period when talking to your loan officer. Many people are hot and heavy for mortgage credit lines, but the compounds of interest, such as credit cards so you could be in the same situation you are trying to get away from. Keep it simple and get the fixed rate loan. Fixed depreciation rate allows for reasonable achievable financial goals with timelines and become debt free. For more information go to Joe http://www.secureyourdebt.com/debt_consolidation_loans.html Prussack studied bankruptcy and debt consolidation trends for nearly 10 years. Get free debt consolidation and Debt Relief Tips and mortgages http://www.secureyourdebt.com updates.