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Loan with debt restructuring

Those who have burdened themselves too much often think about debt restructuring. That makes perfect sense, because by bundling the individual loans, you only pay the monthly installment in one place and also save money. So the debtor gets an overview of his finances again. A loan with debt restructuring is therefore the ideal solution.

How does a loan with debt restructuring work?

How does a loan with debt restructuring work?

In the case of a loan with debt restructuring, all liabilities are combined in one sum. Most of these were already existing loans, overdrafted current accounts, installment purchases from mail order companies or the use of credit cards. You quickly lose track. A debt rescheduling loan replaces all of these liabilities and combines them into a single loan. The bottom line is that you also save money because the interest is now shifted again. This also means that at the end of the month there is more money left in the household budget. Who doesn’t dream of it?

From Cream Bank

From Essen Bank

Many banks create difficulties when so many debts have been amassed. If there are already negative entries in the Credit bureau, the established banks are opposed to a loan. But a bank is known to be ready for a loan even if there are creditworthiness difficulties. It is that of Cream Bank, which has its appearance on the Internet. The repayment modalities are flexible and early repayments are also possible. The terms are generously chosen at 120 months. There are also no processing fees.

Other banks

Other banks

If the credit rating has not yet been damaged, all ways are open. However, it is then worth using the various comparison computers on the Internet. The banks have different interest rates and the best offer can only be filtered out by comparing them. Because interest alone can save a lot of money.

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How to avoid an expensive building loan

Only a few families can make their own home without a home loan . When observing the real estate finance market, various aspects catch the eye. Obvious is the low interest rate level, which leads to high bank lending amounts for the building loan.

On the other hand, some financing customers do not seem to recognize the potential behind the low interest rate for a home loan. The result: Higher loan amounts are financed – without pulling the right register in terms. A building loan binds the household to the loan for years.

Home loan: What can be the worst case scenario?

Home loan: What can be the worst case scenario?

Fixed interest rates from ten to 15 years are unfortunately not uncommon.

Anyone who has made mistakes in the calculation and planning as a building owner experiences unpleasant surprises.

The consequences of illness or unemployment are even more dramatic. If there is suddenly a lack of money for the installment, the mortgage may be terminated and enforced. Can these obstacles be avoided when transferring home loans?

Building finance: You have to know these stumbling blocks

Building finance: You have to know these stumbling blocks

You can clear many stones out of the way with a building loan. This includes, for example, the high residual debt at the end of the fixed interest period.

Possible ways out are:

  • higher repayment rates
  • Special repayments
  • Redemption adjustments.

A somewhat higher repayment rate leads to a faster reduction of the remaining debt. The special repayment can be used especially with variable salary components. Often offered today in the five percent range, it can make a significant contribution to debt repayment.

Redemption adjustments work in both directions. However, this instrument should be used with care, as it is only available in limited numbers.

Home loan – securing low interest rates in the long term

Home loan - securing low interest rates in the long term

An important point is the fixed interest period. The lower the building rate, the more positive a longer term can develop. Even if banks charge an interest surcharge here – the advantage of long-term low interest rates should not be underestimated.

You should definitely consider skeptical loans that are offered as a combination of advance loan and home loan. Here the calculations have to be viewed critically, since not every “pitfall” is communicated openly.