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Dave Ramsey explains why he only endorses Churchill Mortgage

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Debt Consolidation Loans

A Debt Consolidation Loan is a loan against your home to extract some of the equity in order to utilize the cash to pay off debts.

If you are a Dave Ramsey listener, you know that Dave says to avoid Debt Consolidation loans on your home.

One of the main reasons Dave says you need to avoid this type of loan, has to do with Habits.

If you have run up considerable debt that you cannot pay without using your home's equity, then you have created a spending habit that is very dangerous to your financial health. And if you have not taken measures to end that habit, there is a high probability that you will return to those same spending habits after the debts are paid off.

Once you have dealt with and corrected the spending habits that got you in this situation, Dave encourages you to have an Emergency Fund that you can draw on when needed, and avoid tapping the equity in your home.

That is a great rule to follow, and we encourage everyone to have an adequate Emergency Fund to protect your family should any unforeseen event put you in a situation where you need cash fast.

If you do not have an adequate emergency fund or other resources at this time, then utilizing the equity in your home may be one of your only options to get out of overwhelming debt and avoid bankruptcy.

You may also want to check out our Free Reports or start the loan process.

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One Of The Largest Financial Decisions Of Your Life

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