Debt Consolidation Mortgages are extremely popular.
Many people either have credit challenges or are looking to avoid pending credit challenges due to this such as reduced income due to work changes, divorce, unexpected debts or any number of circumstances which have lead to debts which are better managed when consolidated.You may be eligible to borrow up to 90% of the value of your home to use towards debt consolidation and make your payments more manageable. Credit Counselling can assist with this as well by actually reducing the debts you have so that the combination of the reduced debt and the consolidation can dramatically reduce your monthly obligations leaving you with money for other things at the end of the month aside from making payments.
Actual homeowner scenario:
Sears Card – 28.8% owe – $1500, minimum payment $45/month
Mastercard – 19.0% owe – $1200, minimum payment $40/month
Visa Card – 9% owe – $2500, minimum payment $75/month
Bank Line of Credit- 7% owe – $5000, minimum payment $95/month
Car Loan – 7.5% – $15000, minimum payment $305/month
Mortgage – 5.00% owe – $125000, minimum payment $727/month
Total ………. $150,200.00 ……. $1,287.00/month
New Mortgage for $150,200 at 1.75% is $625.00/month
IMM Financial has refinance programs up to 90% of the value of your home!
Please note, this is not a Credit Counselling Service. This is a method of Debt Consolidation and if you wish to use Credit Counselling to make a Creditor Proposal, this will need to be done through a Licensed Credit Counselling Agent in your area.