Current Mortgage Rates

Saturday, September 06, 2008



There are several alternatives to bankruptcy depending on your current situation. You may consider: Debt Consolidation- Debt Consolidation is an easy and timely alternative. A Debt Consolidation Counselor will evaluate your current situation and past debt and develop a budget for you. They will negotiate payment options with your creditors and simply provide you with the alternative to make one easy monthly payment to them and they will disburse the payment among your creditors. You can avoid bankruptcy by choosing debt consolidation, as the latter makes you debt free with a lot of extra benefits:
  1. Permanent Solution: While Bankruptcy offers only a temporary relief, Debt Consolidation provides a permanent solution to your debt problems.
  2. Minimized Debt: Unlike Bankruptcy, Debt Consolidation can reduce your debt amount to as good as 40-60%.
  3. Easy payment: Debt Consolidation allows paying off debts in easy monthly installment without making drastic changes to your living standards.
  4. Clean Credit Report: Debtors opting for Debt Consolidation Program can have renewed accounts and clean Credit Report once the debt is paid off.
  5. Freedom from Creditors: In a Debt Consolidation Program, you are not dominated by the Creditor, as the Consolidation Company takes care of dealing with the Creditors.
On the other hand, if you can't borrow at lower interest rates (perhaps because you don't own a house), or if you don't have enough income to repay a debt consolidation loan, debt consolidation may not be a good alternative to bankruptcy for you. We suggest you make up a monthly budget to determine what you can afford, and then use that information to decide if debt consolidation is a good alternative to bankruptcy for you.



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Current Mortgage Rates*

Loan Type
National Average
30-yr. fixed6.38%
30-yr. fixed jumbo7.00%
15-yr. fixed5.88%
15-yr. fixed jumbo6.50%
7/1 ARM6.25%
5/1 ARM6.00%
3/1 ARM5.88%
1-yr. ARM6.00%
1-yr. LIBOR ARM5.50%
10/1 ARM7.88%
*Mortgage Rates Updated: 09/04/2008