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Homeowner secured loans were not looked upon as a viable solution to the problem that is heavy debt twenty or thirty years ago because many individuals did not want to take the risk of losing their home if they were to face problems in keeping up with their monthly repayments. However, so many people are heavily in debt today, and have bad credit ratings to boot, that they have no choice but to apply for homeowner secured loans a bid to sort out their finances and get back on the straight and narrow. However, this may not be as bad a thing as believed by some individuals.

The homeowner secured loans available have viable advantages that many individuals overlook. Providing that you have your finances sorted out in advance, in terms of budget and fall back options, you can take advantage of the fact that homeowner secured loans are on offer. In terms of the options that they afford you, they even have more advantages than unsecured loans and can be used to get your debts under control regardless of how much you owe. As long as the amount that you borrow is available via the equity that is invested in your home, your debts can be under control within a matter of days.

The homeowner secured loans on offer have the following advantages:

1. A term of repayment to suit your needs ' Repayment of homeowner secured loans can be taken over a period of time up to twenty-five years. This makes the debt far easier to repay and control. The debt free day target is far more realistic and there are loans available that allow you to take payment holidays, make overpayments and underpayments so you can manage it in accordance with your financial circumstances over the years.

2. Much higher limits on the amount that you can borrow ' As long as your house equity value exceeds the amount that you want to borrow, the possibilities are endless. This allows you to really bring all of your debts under the one roof, or afford the car that you want, or anything else that you may need cash for. The homeowner secured loans are great for similar purposes because you have the cash available to fulfill your needs.

3. Products available to suit all wants and needs ' As mentioned above, homeowner secured loans can release equity for almost any purpose whether you need a new car or home improvements. You can tailor it to your wants and needs in terms of repayment as well so the flexibility is there for you.

4. A lower interest rate available - Homeowner secured loans tend to have lower interest rates than credit cards, and if your credit is good then you may have a lower rate than with an unsecured loan as well. This will actually mean that you pay back far less money than you would if your debts remained with separate providers. Also, a purchase would be relatively inexpensive in comparison to paying for it via an unsecured loan.

5. Credit scoring does not matter ' It does not matter whether your credit scoring is good or bad with homeowner secured loans because you have the collateral to back up the loan. Many providers will therefore overlook credit scoring. When you combine this advantage with all of the others then you can see just why homeowner secured loans can be tailored to suit every homeowner out there!