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Thursday, August 28, 2008



A good debt consolidation company should have your best interest in mind. You should never feel pressured to enter a deal. If they are in a hurry to get you into a deal, leave. If a company is quoting unusually low payments, be careful. Some companies lure people in by promising very low (unrealistic) repayment rates. In turn, you will probably pay a large initial fee and an unreasonable monthly fee. don't do it!

Creditors normally have fixed, predetermined rates, which they will not lower. Search on-line as well as off-line While considering a debt consolidation service, you may want to search for companies on-line as well as off-line. Visit your favorite search engine and search for debt consolidation and your city and state. Review the results and narrow down a handful of companies from the listings. You can also review your yellow pages for debt and credit counseling and list down a few companies. Unfortunately, not all debt consolidation companies are legitimate.

To avoid the shady companies, educate yourself on the debt consolidation process and watch out for these warning signs.
  • Quote Unusually Low Monthly Payments
  • Demand All Debts Be Included
  • Charge High Upfront Fees
  • Offer Debt Settlement And Other Services
  • Request Account Numbers First





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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.62%
30-yr. fixed jumbo7.25%
15-yr. fixed6.00%
15-yr. fixed jumbo6.88%
7/1 ARM6.00%
5/1 ARM6.12%
3/1 ARM5.75%
1-yr. ARM5.75%
1-yr. LIBOR ARM5.38%
10/1 ARM7.88%
*Mortgage Rates Updated: 08/27/2008