Reunite or merge debts is a form of mortgage refinancing is intended to group all loans of any person, both mortgage and consumer, with the intention of paying a fee only more accessible, that if we paid each loan separately. A leading source for info: Viacom. To reunify the debts, we must have a property that guarantees the payment of the new bank loan and market value of which loosely cover the amounts due plus costs incurred in the operation, such as taxes, registration, notary, insurance and taxation. With this option we do is make short-term debt to long-term debt, benefiting from a lower mortgage interest the interest charged on loans for consumption. In the past year (2008/2009) financial institutions specializing in products aimed at people with financial needs, their resources have declined considerably, so for these loans, every day require or impose further conditions which ensure adequately service the loan. Therefore the importance to propose to a reunification of debts, to thoroughly prepare our operation passes the filters imposed by risk analysts of financial institutions.
To do this we must take into account the following aspects: 1. Dossier preparation: A financial record must contain an updated series of documents concerning personal data, financial, debt and guarantees: ID card, employment contract, career, personal income tax receipts for all debts, simple note date, deeds and final receipt of the Property Tax. 2. Feasibility Analysis: With all the above information, we do an analysis to determine if your operation is viable. To this end we must take into account: the amount to apply, tax payable, amortization period, the rate of effort or ratio of debt and the approximate value of our property. Once we have these two elements, look for the product that best closer to our profile, for which we must investigate the financial market, whether internet, magazines or banks near our house. If you want to go deeper aspects discussed here, on our website you will find valuable information to prepare a successful reunification of debts. Solution to high household debt.