
14 Feb Is debt consolidation an option?
If you find yourself having to pay hundreds, or even thousands, of dollars per month for interest payments on credit, you may want to consider debt consolidation. It may be the time to contact a mortgage broker to help you with this situation.
You may be wondering why a mortgage broker instead of the service from a financial firm. Well, at the end of the day, a debt consolidation loan that refinances debts at a much lower interest payment is all a person in this situation needs. However, you need to know that agencies or firms actually make more money not getting you a debt consolidation loan, but getting you into options such as consumer proposals and even personal bankruptcy. These options will have a great impact on your credit and the ability to purchase a home.
One way to roll all of your credit into one low, monthly payment is to use your property as collateral (see post on this). This way you are still meeting all the obligations you have with your lenders, besides avoiding any negative impact on your credit score.
The other important aspect to consider when choosing a broker is the fact that they have an excellent relationship with lenders, which in turn allows them to find better interest rates for their clients.
So, if you are in this situation, contact us. If after we review your situation we feel that a consumer proposal or bankruptcy are solutions for you, weโll refer you to reputable businesses who can help you with these options.