Debt Consolidation Mortgage
Debt Consolidation?
Me and my boyfriend have just bought a house. The mortgage is gonnabe about 700 a month and he pays about 700 a month on all his debts which he accumulated whilst he was at university. He only gets paid 1400 a month and we have one child and one on the way. Now, you may think buying a house was silly but….our mortagage advisor told us to get a mortgage and then consolidate his debts because consolidating them first would give him bad credit and we would then be unable to buy a property. Im just wondering whether debt consolidation is an easy process though and something which most people are accepted onto. Im worried about being responsible for a home and stuck with his debt as well???!!! Has anyone been in this situation?
I don’t believe there is any reputable mortgage company that is going to loan money to purchace a house when monthly payments BEFORE the next child arrives are 100% of income.
(Is ANYONE reading the question? His payments are going to equal his entire income before consolidation!)
Debit consolidation to pay down the interest rates and get a single payment on the 700 might be a good idea.
refinance debt consolidation mortgage
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