The credit crunch. The mortgage crisis. Recession.
It's all we hear about these days. But that doesn't mean everything that has to do with your finances is a downer; all this bad news is the motivation you need to finally get your finances straight.
It's time to save. It's time to invest. It's time to consolidate that debt and finally pay it off.
But how do you get started with debt consolidation? How do you find the best loan rate available to cover that car loan, credit card debt and that home equity line of credit?
First of all, you've got to decide how best to consolidate. If your home is to be used to secure the loan, you can find some great rates, points and closing costs available at credit unions.
What is a credit union?
The NCUA (National Credit Union Administration defines a credit union:
"A federal credit union is a nonprofit, cooperative financial institution owned and run by its members. Organized to serve, democratically controlled credit unions provide their members with a safe place to save and borrow at reasonable rates. Members pool their funds to make loans to one another. The volunteer board that runs each credit union is elected by the members. Not for profit, not for charity, but for service is a credit union motto."
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