Mortgage Blog
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Debt Consolidation
February 22, 2023 | Posted by: Christopher Chanakos
Struggling with debt? Condidering a consumer proposal or debt consolidation loan? If you own your own home, you have an advatntage over renters as you there are two ways to leverage the equity in your home and use it to pay off or consolidate debt. By comparing a homeowner's current monthly debt payments to a new consolidated payment after a refinance we can determine if this is a suitable solution. It costs nothing to explore and could save you a significant amount of money per month.There are several options for paying off or consolidating debt and some are better than others depending on your unique financial situation. Talk to your mortgage broker to determine which solution is best for you and your family.