Missed payments and financial uncertainty due to a pandemic job loss in the family negatively affected our client’s credit. This family struggled to manage household finances on a single income.
We worked with their mortgage broker to design the right solution that provides security and stability. And, they’ll save more than $1,900 every month!
Refinancing will pay off property tax arrears, credit cards, consolidate all debts, and provide more than $25,000 for closing costs, legal fees, and savings in case of emergencies.
Now, everyone is back to work and they’ll have an additional household income, a fresh start, and work together to rebuild their credit.
They will also receive additional peace of mind with a full year of FREE Home System Warranty program worth up to $10,000 annually!
In a rising rate environment, clients often find it makes sense to refinance their mortgage for the purpose of debt consolidation and credit rehabilitation. Consumer debt and credit cards carry higher interest rates than even today’s mortgage rates, so we’re seeing an increase in refinance activity as Canadians move to shore up finances and protect themselves.
We offer refinance solutions through our MCAN Home Discover Alt series for entrepreneurial-minded, self-employed professionals, real estate investors and Canadians with non-traditional income or credit challenges.