Tuesday, December 19, 2006

"Shopping Smarter" for the Holidays!

It's that time of the year when our eyes are bigger than our wallets!! So, we're going to be very candid with you. Going into debt for holiday gifts and entertainment is never a good idea.

Frankly, your best shopping partner is your budget! Hopefully, you've got one and have stuck to it. But if you do end up going over your head, you shoulk know there's an alternative to high-interest credit card debt.

With a Home Equity Line of Credit (HELOC) you can access cash at a lower interest rate. By using your home as collateral, you can borrow money at a much lower rate than is charged by credit card companies.

In fact, with a HELOC, you could pay less than half the interest charges over a one-year period than you would on a credit card! Also, unlike credit card payments, your HELOC payments may be used as a tax write-off (check with your tax advisor).

When you pay only the minimum on your credit cards, you're paying mostly interest. With a lower-interest HELOC, chances are you'll have more money to repay the loan each month. Plus, you'll be paying down the principal, so you can pay your debt off sooner.

To get started, contact:

Steven Weinstock
Secure Capital Mortgage
818-285-0604 ext. 201
http://www.securecapitalmortgage.com

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