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35% - Payment History 30% - Amounts Owed 15% - Length of Credit History 10% - New Credit 10% - Types of Credit
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Consolidate Debt With a Second Mortgage?A second mortgage taken out in order to consolidate your debt may be a risky venture as you could potentially lose your home. Try looking into credit counseling services and debt repayment services and see what types of options they have available for you in order to give yourself some options. Credit counselors can help and are much better than say a bankruptcy filing. If making payments is a problem for a person then maybe using ones own home as collateral may not be such a good idea. Check out some of the credit counselors we have listed here at the site for more information available. |
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