Is there any lender who could offer personal debt consolidat

jcalija · Joined: 23 May 2008 Posts: 1 1.36 Dollars($)

Hi,

Is there any lender who could offer personal debt consolidation loan before apply for mortgage? I am renter right now and my rent just jumped up. I am thinking about buying a house. Problem is I have too much debt $40000 (car, 2 personal loans and 4 credit cards). I don't have any late payment and I never had. Is there any way to get a consolidation loan to pay off my debt and just make one payment every month. If I get this I would like to buy a house right away. Thank you very much.

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi jcalija,

Welcome to the forum.

If you want to do debt consolidation then I should refer you to the debt consolidation community at "http://www.debtconsolidationcare.com". This community helps people to get out of debt. So I think you can get help from this community.

BTW if you want to get mortgage loan then it need to inform us about your credit and employment history so that we can give you better suggestions.

Feel free to ask if you have any further questions.

Best of luck,
Larry

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.80 Dollars($)

Hello jcalija,

I would suggest you to wait a bit and improve your credit score before you apply for a mortgage. If your credit score is poor and DTI ratio is higher then even if get approve for a mortgage, you will get it at a higher interest rate.

Now if you want to know whether you should go for a mortgage, you can seek No-obligation free consultation from the mortgage professionals.

Feel free to ask the community if you have any further query.

gmakerley · Posted: Sat May 24, 2008 4:48 am Post subject:

oh, wow.

jcalija, i suggest you try to keep your car loan as is. based on your payment history, as you stated it, you may well be able to get a consolidation loan for the remainder of your debt - but keep in mind that lenders are generally conservative and the amount of your debt may not sit well with them.

mortgage lenders are just that - mortgage lenders. your best bet for applying for such a loan is probably a credit union, a local bank, a local finance company, a non-local bank (in that order). there may be other sources of loans you can try as well.

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