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GLOSSARY TERMS
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Debt Consolidation

Debt consolidation is the process of combining two or more loans into a single credit account, usually to help lower the total cost of credit and to simplify the management of a debtors credit accounts. A typical vehicle for debt consilidation would include a second mortgage or home equity line of credit. These loans may provide certain tax advantages not available with other kinds of credit, but may also require your home as collateral.


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