Jean Chatzky Quotes About Loan

Quotes about: Loan

• A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.

  Jean Chatzky

  Home, People, Cards

  Source: www.nbcnews.com

• You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.

  Jean Chatzky

  Home, Needs, Cards

  Source: www.nbcnews.com

• In about one-third of credit card consolidations, within a short period of time, the cards come back out of the wallet, and in no time at all, they're charged back up. Then you're in an even worse position, because you have the credit card debt and the consolidation loan to worry about. You're in a hole that's twice as deep - and twice as steep.

  Jean Chatzky

  Worry, Cards, Credit

  Source: www.nbcnews.com

• Even in the days of the tightest credit in 2008, HELOCs [ home equity line of credit ] and home equity loans were being made.

  Jean Chatzky

  Home, Credit, Lines

  Source: www.nbcnews.com

• Rolling all of your debts into a single loan is a good idea - in theory. In fact, it can be a great idea.

  Jean Chatzky

  Ideas, Rolling, Debt

  Source: www.nbcnews.com

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