Ditech Debt Consolidation LoansThough debt consolidation is possible today without the need for taking out a loan, ditech debt consolidation loans are one method that does make use of a loan to consolidate debt. There are pluses and minues to taking out a new loan to consolidate (payoff) other loans. We will discuss these issues and more as we delve into ditech debt consolidation loans.
If you are buying a home, refinancing, or simply wish to consolidate your debts into one monthly payment, ditech debt consolidation loans are one financial and financing solution available today. Ditech, A Walter Company (rebranded from “ditech” and "Green Tree Servicing" in 2015) is a provider of home loan, loan servicing and refinance products to consumers and institutional partners. In May 2014, Ditech announced its re-entry to the national housing market after it disappeare” from the marketplace for five years during the subprime mortgage crisis in the late 2000s. It also recently announced a corporate re-branding with its servicing affiliate, Green Tree Servicing, to take place in 2015.
During the 1990s and 2000s, ditech became a household name for humorous television commercials featuring a frustrated loan officer, played by actor Ron Michaelson, who repeated the catchphrase "Lost another loan to ditech. Today, ditech debt consolidation loans are more popular than ever, but they are not everyone, according to economists and money management experts. Let's look at how a traditional debt consolidation loan works"
Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a personal finance process of individuals addressing high consumer debt but occasionally refers to a country's fiscal approach to corporate debt or Government debt. The process can secure a lower overall interest rate to the entire debt load and provide the convenience of servicing only one loan and making only one monthly debt payment.
Since 1995, ditech.com has helped homeowners across America reach their financial goals, by tapping equity in their homes, eliminating their high interest debt, and providing them with the extra spending money they need. ditech uses technology to provide a quick online application experience. Customers applying with ditech for ditech debt consolidation loans can receive customer support by phone, where loan consultants are available 24/7, or via online chat. If approved, all the loan documented can be signed electronically online and funds are sent overnight by Fedex.
Yet there are those who say that debt consolidation (including ditech debt consolidation loans) are nothing more than a "con" because you think you've done something about the debt problem when in fact you're actually robbed Marsha to pay Peter. The debt is still there, as are the habits that caused it – you just shuffled it around. Truth be told, businesses large and small, as well as government bodies, do this on a routine basis. It's just par for the course. Some experts caution that you can't borrow your way out of debt. You can't get out of a hole by continuing to dig out the bottom.
Ditech debt consolidation loans may certainly be a good and even smart choice for the person who can maintain a monthly household budget and plan for unexpected expenses such as car repairs, illness, job loss, etc. But for some, ditech debt consolidation loans may not be the best solution to get out of debt in a quick and safe manner.
Debt consolidation in other forms that do not involve ditech debt consolidation loans are available which are both easy to apply for and qualify for. The process can be started online in the comfort of your own home or office. Some forms of debt consolidation that do involve the taking out a loan are known as debt consolidation, debt negotiation, debt arbitration and credit counseling. These debt initiatives work in various ways. Some involve negotiating with creditors to obtain more favorable payments terms such as lower interest rates and/or reduced monthly payments. Others of these programs involve negotiating with creditors to settle outstanding debt for significantly reduced amount. The savings can be significant.
It's best to explore all debt consolidation options available to you before making an informed decision.