Questions about debt consolidation, credit card debt or bad credit debt refinancing?
- Are you always worried about money?
- Are you struggling to meet your mortgage debt, car payment or credit card bills?
- Are you always in overdraft?
- Are you making minimum monthly payments on your credit card debts?
- Are you borrowing money from family or friends?
- Are you behind on your credit cards, loan or mortgage payments?
- Are creditors constantly hounding and harassing you?
- Are there threats by collection agencies of Court action?
- Have Court actions for Power of Sale commenced against you and your property?
As your Mortgage Broker, we can assist in credit card, loan and bill consolidation through refinancing to eliminate any/all of the above mentioned RED flags that may pertain to you.
Using the equity or “value” available in your property, you can refinance a mortgage loan to reduce or eliminate your credit card debt, outstanding bills and even include other secured debts that may have higher interest or monthly payments. Property values have gone up due to market conditions, with refinancing allowing you to use that “increased value” to reduce monthly financial responsibilities. Combine all your bills into one manageable payment.
Our Example:
| Before Debt Consolidation | Existing Mortgage | ||
|---|---|---|---|
| Property Value | $220,000 | Property Value | $220,000 |
| Mortgage Balance | $140,000 | Mortgage Balance | $157,500 |
| Interest Rate | 6.9 % | Interest Rate | 5.25 % |
| Term | 5 year | Term | 5 year |
| Monthly Payments | New Monthly Payments | ||
| Credit Cards ($12,000) | Credit Cards ($0) | $450.00 | $0.00 |
| Other Debt ($5,500) | $350.00 | Other Debt (0) | $0.00 |
| Mortgage | $1,068.91 | New Mortgage Payment | $1,056.34 |
| Total Payments | $1,868.91 | Total Savings | $812.57 |
Contact us now and let us begin to assist you in regaining control of your finances.