In many cases it is possible to borrow
up to 125% of your home value. If you have a $90K first
mortgage on a home that is worth $100,000, $35,000 would be
available for home improvement or debt consolidation.
Despite the fact that 125% loans
are popular, we suggest that you consider the ramifications of
owning more on a home than it's market value.
125% Loan Application
If your goal is to consolidate credit card and
other unsecured debts, then credit counseling may be a better
option. A debt consolidation credit counseling organization
will negotiate a lower payment with your creditors and offer a
consolidated payment plan. Please visit:
www.DebtPlan.org
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