Consolidating debt with mortgage canada trina and ludacris dating
Transferring your credit card balances onto a debt consolidation loan can relieve a stressful financial situation.
By drastically reducing the interest rate on your debts, you can pay off what you owe much quicker.
It can be difficult to keep up with the ever-increasing costs of living, especially when you’re on a fixed income.
According to a report by Equifax Canada from September 2017, Canadians over 65 are increasing their debt more than any other age group*.
It is easy to rack up considerable debt on credit cards, especially when you might struggle financially just to get through the month.
With interest rates that are typically around 20%, simply making minimum payments can be a financial strain.
It puts them back on their feet and helps give them more financial stability.
With this option, you only make one reduced payment per month.Click here to find out how much money you could qualify for with a CHIP Reverse Mortgage to help you consolidate your debt.Did you know that you can combine all of your high-interest debt – including debt from credit cards, auto loans and personal lines of credit – into one low-rate mortgage loan? By consolidating debt in a secured loan, backed by the equity in your property, you can access interest rates lower than even a personal line of credit would allow.By lowering your monthly payment and consolidating multiple payments into one, you are more likely to make every payment on time and in full.This will improve your credit score, giving you greater options with lenders in the future.
Personal, unsecured loans and lines of credit often have high interest rates and short payment terms.