Mortgage Tools
Mortgage News
- Condos in the Suburbs Gaining in Popularity
- Part 2 - Differences in U.S. and Canadian Mortgage and Housing Markets
- Differences in U.S. and Canadian Mortgage and Housing Markets - Part 1
- Using a Home Equity Line of Credit to Consolidate Credit Card Debt
- CIBC Chief Comments on Canadian Mortgage and Housing Markets
Canadian Mortgages Inc. Can Help You Get Out of Debt
The certified mortgage brokers at Canadian Mortgages Inc. have the experience and training necessary to help clients facing financial troubles with debt consolidation and credit repair, and can sit down with you to come up with a debt management strategy that will use your home equity to get your finances under control. Our debt consolidation programs are ideal for clients who are having trouble keeping up with monthly bills and payments because of:
- Income reduction
- Loss of employment
- Illness or injury
- High interest rates
Our debt assistance plans consist of home equity products that allow you to tap into the equity in your home to consolidate and reorganize your debts by paying off several smaller loans, so you will only have to worry about one monthly payment.
What to Expect with a CMI Debt Consolidation Loan
After your debt consolidation, your monthly loan payment will be significantly lower, meaning you will have more disposable income to get yourself back on track financially. And since you will only be responsible for repaying one loan instead of owing several creditors, you will be able to pay off your mortgage faster because the amount of interest you pay will decrease, and a larger portion of your regular payments will go towards the principal. Most importantly, you will be able to manage your debt and your finances, which will:
- Ease your stress
- Alleviate worries about bankruptcy
- Stop harassing calls from collection agencies
- Help you repair your credit
The CMI Debt Consolidation Process
When you choose our trusted mortgage brokers at CMI as part of your debt reduction strategy, we will start with a consultation to assess and evaluate your financial situation, and then explore the home equity products that are available to you. We will then help you determine the borrowing option with the lowest interest rate and the most convenient terms. We will find you the financing product that is best suited to your financial circumstances and lifestyle, based on factors such as:
- Monthly family income
- The amount of your debt
- How much you can afford per month
If need be, our brokers can also assist you with accounting, budgeting, and a repayment plan that will be customized to your unique needs and abilities.
Canadian Mortgages Inc. and Debt Consolidation Loan Products
Over the past 30 years, CMI has built a vast network of private and non-traditional lenders that are willing to finance high-risk borrowers. The financing products available for debt consolidation plans include home equity loans and lines of credit, second mortgages, and mortgage refinancing. Depending on the mortgage or loan product you choose and your individual circumstances, you could be eligible for financing worth between 75% and 100% of the value of your home. So if you are falling behind on your payments and sinking into debt, call the mortgage professionals at CMI, and start getting your debt consolidation and credit repair plan in place today.
