If you are a homeowner they went over budget on your holiday spending, it is time to start out the new year getting back on track.  A great way to get started is to go through all your recurring monthly charges and eliminate, all the little items that are never really used.  For most people, when they add up all the little charges for services they don’t use or completed forgot about is can save $100+ per month.  For anyone, who is too lazy or not motivated on their own – there are multiple apps such as Rocket Money – that will automate the process.

For even bigger monthly savings, homeowners can tap into the built-up equity in their home.  A home equity line is a great way to use your own assets to consolidate high rate consumer debt.  The home equity line of credit has a fixed interest rate.  The fixed interest rate is the best way to protect yourself from inflation.

Credit cards do not carry fixed rates.  The interest rates and minimum monthly payments will continue to rise on the credit accounts that were used for holiday purchases.

By consolidating your high rate credit card debt along with any outstanding personal loans you can cut hundreds off your total monthly payment.  You can then use that monthly savings to build savings, complete home improvements or pay off other higher rate consumer debt.

The home equity line of credit is a simple and quick process.  To get started it just takes a few minutes to complete the online application.  The home equity lines offers approval in five minutes and funding within 5 business days.  There is no appraisal required and minimal documentation required.

If you have questions about the home equity line of credit, please send me a message.  I will be happy to assist.