One of the simplest ways to pay off your debt is to consolidate it into your mortgage. That's right I don't care what the experts say, If you consolidate and don't create any new debt because you have " Extra Money" that is the way to go. You see if you only have the one bill, you can pay the minimum plus the total of what your other bills were. What this will do is increase your mortgage payment, but if you are diligent it will allow you to pay it off sooner.
How would you just like to have a mortgage payment. The reason the experts recommend against this, is because if your not a strong person on a mission you will just create more debt. So this is not for everyone. But if you can do it this is the way to go.
Here is an example say you mortgage is $200000 and you have debt of $100000 and your house is worth $500000. On a $200000 dollar loan you payment is maybe $1800 and you combined debt payments are $1200. Now if you paid off the debt within the mortgage your now mortgage would be $300000 and your new payment will be about $2400. But you just freed up $1000 dollars worth of payment money. So you take that and the regular payment and your total will be $2800 or $3400 one would be and extra $400 a month. The other would be an extra $1000 a month. With the $400 it's like making two extra payments a year and with
$1000 it's like making 4 extra payments a year.
This should cause you to be debt free and to pay off your house in a shorter period of time. With each $1000 extra payment you make you will cut the interest by close to $10000.
Visit http://www.thewoodsgroup.com/pcdiet.htm
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