As a home owner, the best way to start tackling your high interest debt is to use equity in your home to eliminate your debt.. Using the equity in your home can provide a variety of options to help reduce and eliminate your debt quickly and affordably. A second mortgage, home equity loan, secured line of credit or a refinance are all terrific options to drastically reduce your monthly payments, speed up credit repair and become debt free faster.
A lot of people are reluctant to add debt to their mortgage because they want to be “mortgage free” but when you really think about it, your goal should be to become “debt free”. A debt consolidation mortgage will give you the convenience of being able to make one monthly payment to your debt rather than making several payments to a variety of different creditors:
Focus on paying off your debt
Having one low monthly payment allows you to stay focused on paying off your debt and gives you the ability to apply more to the principal, thereby eliminating your debt faster. A debt consolidation mortgage has many benefits:
Debt that is organized into one spot is easier to track and payoff
Your monthly payment will be significantly lower
You will generally pay less interest on the total debt accumulated
Stress reduction: debt can be a burden on the mind as well as your wallet
Stop collection calls and avoid legal action
Improve your credit score
It’s amazing what a debt consolidation can do for both your state of mind and your financial position. If you are considering one of them many options available to you as a homeowner to consolidate your debt, Secondmortgage.ca has a solution. Call us toll free 1-866-306-2637 for a no obligation consultation or simply apply online and take a giant step towards being debt free.