Member Saving Stories

Suman saw a solution, and cut this member’s payments in HALF!

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This member called in back in November to get some help with his personal loan due to having a hard time with his finances, and wanted to ask about options for reducing the monthly payments. We talked about solutions other than a loan modification and I thought, if the member was struggling with this one payment, was he struggling with others…?

During our conversation I found out he owned his home and also owned a rental home, so I suggested we look into an equity loan for him to consolidate debt into a much more manageable interest rate and payment. He was concerned about needing to spend money to save money, so I let him know we don’t charge any closing costs for equity loans and have a few different solutions to choose from. Once he had all of that information, he decided to go with a Fast Track Home Loan to consolidate his debt. Before we consolidated his unsecured debt, he was paying about $1100 a month and now he is paying less than half of that!