Over time, we can take on a number of debts including credit cards, loans, and lines of credit. Many of these debts are higher interest debts – sometimes as much as 18% interest!

When debt, along with the interest rate, becomes too high to manage, it feels almost as if they are treading water and trying to keep from drowning in a sea of debt! It is easy for someone in this situation to fall into financial ruin or bankruptcy.

If you find yourself in this situation, there is an escape hatch – the debt consolidation mortgage. The debt consolidation mortgage is a mortgage where you can borrow more money to pay off some of your current higher interest debt and fold that debt into your lower interest home mortgage

It’s advantageous for several reasons:

 • It’s good for your credit rating: As long as you keep your mortgage payments current, that debt gets paid off slowly.

• It costs less: Mortgage rates might only be 4% to 7% but credit card and other loan interest might be as high as 18%. That saves a lot of money.

• It’s easier to manage: Rather than receive many bills throughout the month, your debt is consolidated into one loan – your mortgage – and thus you only have one payment.

• It frees up more money. Although your mortgage payments might increase slightly, or the term might lengthen, you no longer have the debilitating piles of minimum payments due each month.

There are so many great reasons to consider a debt consolidation mortgage! Apply online or contact Nirpreet Thind at 416-826-7741 for a free, no-obligation consultation.

Apply online today… get approved today! .