Do you have equity built up in your home? Why not use it to pay off those high interest loans? As mortgage brokers, we can help reduce your monthly obligations and interest costs while increasing the day to day cash flow you have.
Home Equity Debt Consolidation allows you to increase your mortgage and pay off your debt at the same time. Paying off your debt will become more manageable with payments that are significantly lower, which will potentially prevent you from making late payments, save you from bankruptcy or even structured settlements, all of which can hinder borrowing potential in the future!
There are a few things you have to consider when looking at getting a debt consolidation mortgage in Alberta, such as the payout penalty on your current mortgage and whether or not it still makes sense for you. Home Equity Debt Consolidation is an option for you if you find yourself in one of the following scenarios: