How to turn 29% bad debt into 3% good debt

Zoltan PadarNews0 Comments

CHIP the no payment mortgage

The ongoing resiliency of the Canadian housing market has most Canadians feeling confident that their home is a sound financial investment which will become a cornerstone of their long term financial well being.
  
Unfortunately the same cannot be said for the amount of debt Canadians have outside their mortgage. A recent Royal Bank survey stated that debt loads outside mortgages have sky rocketed since the recession of 2008-2009. In fact, 38% of Canadians state that they’re anxious about their current debt situation.

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If you think you might know someone who has this concern I’d be happy to show them some possible strategies that could relieve a lot of that anxiety.

Paying off unsecured debt, like credit cards, has become a priority for most especially heading into the holiday season. Canadians have been taking advantage of low interest rates to finance more borrowing, a move that our Government has been discouraging. The Bank of Canada recently signaled that economic progress has been too slow to warrant changing the prime rate anytime soon. However, as Finance Minister often states “interest rates won’t stay low forever”.

With the many lenders, products and mortgage options that exist for Canadians, I can assist in finding the right strategy that makes sense for you today and tomorrow.
Debt consolidation for homeowners will not only enable them to turn high interest debt into low interest one, it repairs credit and make you eligible to borrow for very low interest. The result is huge savings for years to come.
Request a FREE consulting session to discuss your circumstances and work out a plan to get you not only bad debt free, but reduce your stress. 

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