Unsecured loan to secured loan - how a loan company can convert your debt and claim on your home

The number of unsecured loans being converted to secured loan status by lenders in order to reclaim debts, is on the increase warn consumer debt charities.
Comments on article "Unsecured loan to secured loan - how a loan company can convert your debt and claim on your home"
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ligroyjones If you’ve been waiting to see when interest rates will bottom out before buying, you know how difficult that can be. When rates are falling, there’s a temptation to wait for a further decline before buying. But then rates can turn up sharply, and the opportunity may slip away. On the other hand, if you buy and afterward interest rates drop even further you may have an opportunity to refinance. Refinancing is replacing your old mortgage with a new one.

Good luck

Ligroy

6/13/2006
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j.s. Of course it is a matter for the Dti ` if not only for the fact that loans are taken out with the word unsecured as a prominent part of the contract only to find that they are not unsecured at all ` making the whole thing a mis-selling of their services. 1/18/2006
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