There are two primary
types of debt reduction and counseling programs that can lead to debt elimination.
Not exact matches
Here's a quick chart that summarizes interest rates for various
types of loans to give you an idea
of where it might be best to focus your
debt -
reduction efforts.
Choosing a
debt reduction method for you comes down to how your mind works and the
type of debt you have.
Here's how to know if you're in a situation where it might be smart to start investigating
debt consolidation loans,
debt reduction programs, and other
types of debt help.
Firms who perform this
type of work may identify themselves as
debt management,
debt reduction,
debt relief,
debt workout,
debt settlement or a host
of other names inferring they help with
debt even sometimes including
debt consolidation.
Through the way she researches how at the end
of the mortgage she is going to rent that house out and move into possibly into a similar
type home, use the rent from the previous home and now all her extra monies available from
debt reduction and now blast down that mortgage, then rinse and repeat if that would be her desire.
Reductions in mortgage principal
debts through regular amortization played a role, as did refinancings by owners into loan
types with shorter terms — mainly 15 years — and faster payoffs
of principal.