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  • Writer's pictureElizabeth Mortgage Broker

Eliminating Debt with Existing Home Equity

Stop! Before you think about doing a Consumer Proposal or Bankruptcy, consider ALL your options.

Facing a huge credit card bill is one of the most frustrating experiences an average Canadian goes through. You try persistently, year after year, only to make a small, insignificant dent on the total debt balance. Credit card companies strive to ensure you remain indebted to them - setting interest rates that basically guarantee years of indebtedness.

"Dealing with a debt of this magnitude can be a cause for worry and concern but the solution to this problem can be pretty straightforward."

This solution is geared towards homeowners who have accumulated equity in their homes. Channel some of your equity towards clearing your debts and you’ll breathe a huge sigh of relief. There is even a boost to your credit score as an added reward!

This Solution is geared towards home owners who have accumulated equity in their homes.

Those pesky interest rates are what make credit card debts so insurmountable. Bypass this mountain by simply refinancing your credit card debt with a home-equity loan. These home-equity loans offer significantly lowered interest rates, compared to the high rate credit card companies charge on your debt. Rather than making monthly payments that barely make a mark on clearing the debt accrued from just your credit card interest rates, get a more manageable option in equity re-purposing.

Clearing your existing debt can offer stress relief. Who would have thought clearing a mountain of debt leaves you with more money for yourself.


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