Financial Focus: There are still ways to consolidate your debt

Q: As credit tightens, what options are available to consolidate debt? What are some of the safest ways for consumers to consolidate debt?

As credit markets continue to struggle, many consumers are concerned about how to best manage their current debt load. If you are fortunate enough to be a homeowner and still have some equity left, a consolidation refinance may be one option to consider.

While most credit cards have variable rates of interest, home loans have the option of a low permanently fixed rate. Even with the financial crisis in full swing, mortgage interest rates are some of the lowest available in the finance marketplace. Underwriting criteria have toughened up in recent months, so you actually have to prove you can pay back the new mortgage.

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Resources:
Debt Consolidation Information
Debt Consolidation Companies

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