Difference between Debt Consolidation and Debt Consolidation mortgage

Discussion in 'Credit Talk' started by jhones.ham, Sep 8, 2009.

  1. jhones.ham

    jhones.ham Member

    Hi All,
    Many other people consider to debt consolidation loan and also debt consolidation mortgage. So, my question is whatâ??s the difference surrounded by a debt consolidation loan and a debt consolidation mortgage?
    Anyone give me some comments about my question.
  2. ccbob

    ccbob Well-Known Member

    Just a guess, but I would imagine a Debt Consolidation Mortgage is a loan that is secured by your house, whereas a Debt Consolidation Loan is unsecured or secured by something other than your house (e.g. your car).
  3. jhones.ham

    jhones.ham Member

    Hello ccbob,
    I think both are loans.
    So, which I consider debt consolidation loan or debt consolidation mortgage ?
  4. jjgross

    jjgross Well-Known Member

    A debt consolidation loan is unsecured where if you default your house while have a lien on it,and maybe made to sell.A mortgage is here they will foreclose on the house and you lose it.

Share This Page