Debt Consolidation

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Question: Is it possible to consolidate a debt of $85,000.00 into one monthly payment and amortize it over 10 years.

We have an excellent credit and have never defaulted on anything. We both have good jobs.

Thank you

Answer: Yes, it is possible to get a debt consolidation loan for $85,000. However, for that amount the bank would probably require a very high income, or collateral, or more than one co-signer. For that level of debt a home equity debt consolidation loan may be necessary, where the bank places a second mortgage on your home to secure the debt. To find out if you qualify, talk to your bank.

This entry was posted on Tuesday, April 21st, 2009 at 10:40 am and is filed under debt consolidation loan. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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