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ABOUT THE AUTHOR
PLEASE VISIT MY SITE
HTTP://INSURANCE.JIMDO.COM
Fatima graduated with a Bachelor's degree in Economics from ColumbiaUniversity and received a Masters in Economics from Singapore NationalUniversity. Fatima comes from a political background, her father Mir MurtazaBhutto - an elected member of Pakistan's parliament - was assassinated bystate police in 1996. His sister, Benazir Bhutto, was Prime Minister at thetime of his killing. Fatima is the author of two books, understanding thefinancial system published when she was 15 years old and basics of debtmanagement. Both were published by Oxford University Press.Fatima currently writes a weekly column for Pakistan's largest Urdudaily newspaper, Daily Jang, and its English sister paper, The NewsInternational. Recently She has completed her MBA in Finance from HarvardUniversity in 2006. Her diary from Tehran is the second the papersprinted; Fatima also wrote a weekly diary from Lebanon .
 
Need Debt Consolidation? - How To Do ItWith A Cash Out MortgageFATIMA BHUTTO Taking care of your debts can be donerather quickly by getting a cash outmortgage. A cash out mortgage isactually a first mortgage and it willrequire you to refinance your existingone. There are some real advantages bydoing it this way - such as getting thelowest interest rate for any loan. Here ishow you can go about getting that newmortgage for you debt consolidation.A cash out mortgage allows you to getthe equity out of your home's equity byrefinancing your first mortgage, whichpays that off, and by adding to the loanthe amount of equity that you want. Thelender, of course, will determine exactlyhow much of your equity you can get.
 
 This will depend on your credit score andyour ability to repay the loan.Getting the equity out of your home fordebt consolidation allows you to do it withthe cheapest type of loan possible - a firstmortgage. You want to time it right,though, and watch the market for dips inthe interest rate in order to get the bestinterest rate possible. Then you will wantto lock your rate and remortgage. Wait forthe interest rate to be at least 1% belowwhat you are paying now. You may also want to reduce the amountof repayment time by about five years. This may raise your monthly paymentslightly, but it will save you many tens of thousands of dollars if you have morethan ten years left. Since the object is toget out of debt as soon as possible, this is
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