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Consolidation Loans
Debt Consolidation and Rate Reduction Loans


A Consolidation loan is utilized to combine a number of debts into a single debt, such as: small loans, credit cards bills, 1st and 2nd mortgages, a 2nd mortgage with a combination of debts, etc.  

Consolidating debts serves the purpose of saving the borrower money on each monthly payment.  Instead of several small payments each month, a consolidation loan provides the borrower with a single monthly payment that is lower than numerous separate payments because of an overall lower interest rate.  

Note:  Credit cards are designed to be paid off in 15 years, making a consolidation loan even more attractive. 

Consolidation loans are most beneficial when combining debts that are not tax deductible, thus turning them into a tax deduction.  The best part about consolidating debts, such as credit card debts, is that the interest on a consolidation loan is tax deductible whereas credit card interest is not.  

Tip:
If the amount saved each month is applied to the new debt consolidation loan, the borrower can become debt free sooner.  If the savings are applied to the 1st mortgage, equity can be built up faster.    (See the Amortization Calculator). 

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© MTG Brokers Corp. 2003, 2004

MTG Brokers Corp. conducts business as a COMMERCIAL Mortgage Broker throughout the U.S.A.
(All 50 States) including Loan Origination, Processing, and Commercial Financing Consultation


ALABAMA
, ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, FLORIDA,
GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND,
MASSACHUSETTS,
MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW
HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA,
OREGON, PENNSYLVANIA, RHODE ISLAND. SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH,
VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING


AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, MD, ME, MI, MN, MS, MO,
MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY


MTG Brokers Corp. conducts business as a RESIDENTIAL Mortgage Broker in Colorado
that can also
originate Residential financing in the following States under the license of an affiliated mortgage contractor:

Alabama, Alaska, Arkansas, Arizona---Pending, California, Colorado, Connecticut, District Of Columbia, Delaware,
Florida, Georgia, Idaho, Illinois---Submitted & Pending, Kansas---Submitted & Pending, Louisiana---Pending, Maine,
Maryland, Massachusetts, Missouri, Michigan *--- 2nd Mortgage Submitted & Pending, Nevada, New Hampshire *,
New Jersey *--- 2nd Mortgage Submitted & Pending, New Mexico, New York, North Carolina, Ohio, Pennsylvania,
Rhode Island--- Submitted & Pending, South Carolina--- Submitted & Pending, Tennessee, Texas, Vermont,
Virginia, Washington--- Submitted & Pending

AL,AK,AR,CA,CO,CT,DE,FL,GA,ID,ME,MD,MA,MO,MI*,NV,NH*,NJ*,NM,NY,NC,OH,PA,TN,TX,VT,VA.

* We Are Not Licensed For Residential 2nd Mortgages