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What is the difference between debt consolidation mortgages and debt consolidation loans?

April 26, 2017debt consolidation Loans mortgages

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What is the difference between debt consolidation mortgages and debt consolidation loans?

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When you get a debt consolidation mortgage you will end up taking out a new mortgage that is big enough to pay off your unsecured debts and your mortgage. This means you’ll end up only having one payment to make each month. A debt consolidation loan has nothing to do with your mortgage and you will just be borrowing enough to pay off your unsecured debts.