According to a recent survey conducted by CIBC, 26% of Canadians consider paying down debt and keeping up with their bills to be their top financial priority in 2016, for the sixth straight year. (Source: Business News Network)
As debt continues to be a concern, it can be difficult for Canadian homeowners to pay down multiple credit cards and loans. Save on interest charges and lower monthly payment obligations by consolidating consumer debt into a mortgage. Clients who consolidate will benefit from:
• Securing a lower interest rate—saving thousands on interest payments in the long-term.
• Maintaining a good credit rating—paying one bill instead of multiple is much easier to manage.
• Becoming debt-free faster—lowered monthly payments will allow you to both invest the money saved and pay more toward their remaining debts or mortgage.
If you carry consumer debt over from month to month then give serious consideration to a debt consolidation mortgage. A quality mortgage broker can review your options.