One Stop Mortgage Corp Blog

CONSOLIDATE YOUR DEBT

July 11, 2012 by @OneStopMtgCorp

One Stop Mortgage Vancouver team

Consolidate your Debt with a Home Equity Loan

During the summer our thoughts turn to home renovations, setting up new businesses, taking a family vacation and spending some time away from work.  With the summer sun come beautiful dry days and great opportunities to work outside and finish the projects that you’ve been putting off.  With a home equity loan, you can consolidate your debt and combine your multiple payments into one easy monthly plan.

You can consolidate your debt, save time and money, and manage your cash flow by consolidating your various lines of credit, credit card balances and other loans into one simple monthly payment plan by using a home equity loan.  This allows you to save on interest costs, which gives you more money for your summer projects and provides the chance to pay off your debt by putting more cash into your hands.

 

The Benefits

With debt consolidation, you borrow enough money in one loan to pay off your credit card balances or other loans.  It makes life easier and repayment of loans more possible.

A home equity loan makes it even easier, since you borrow money based on the equity in your house, condo, townhouse or acreage to pay off your debts and replace them with one payment at a lower interest rate.


Here are some key benefits:

  • One simple monthly payments makes budgeting and money management easier

  • Lower monthly payments since a home equity loan is usually obtained at a lower rate

  • Lower your monthly payments if you extend the length of the term

  • Save money by not paying high interest rates on your credit cards

  • Have all your loans in one place to simplify repayment plans and money management

  • There are no negative effects that impact your credit rating with a debt consolidation loan.  It may even improve your credit rating, since you will have the opportunity to pay back the loan faster with lower monthly payments.

  • There is the opportunity to repay the loan more quickly at lower interest rates.

 

Imagine accessing the cash you need today to get that home renovation done, set up that new business or free up some funds to pay for your child’s college or university tuition.  With a debt consolidation loan, you pay off the other debt and the easiest way to do this is with a home equity loan.

 

Reduce your Debts

The goal of debt consolidation is to help you get the cash you need to simplify your life, pay for what you need and most importantly – reduce your debts.  If you get a home equity loan and access the credit in your home, you can take advantage of lower interest rates and put more money in your pocket.

To begin paying down your debt and working your way to more financial freedom and a less stressful life there are several things you can do:

  • Figure out how much you know, and calculate how much interest you pay every month

  • Set your debt priorities to see which debts are positive.  For example, credit card debt is usually set at a high interest rate costing a great deal more per month than other types of loans.  A positive debt is a mortgage which allows you to buy a home, take advantage of increasing property values over time and live in your investment.  It is better to pay off your credit cards first than put extra payments down on your mortgage

  • Track all your spending and make a budget based on honest numbers, rather than estimates.

  • Manage your money carefully and try to decrease your spending and increase the amount you put down on your debts.  Keep paying minimum payments on good debt, and maximize payments on bad debts. 

  • Consolidate your debts with a home equity line of credit.  Lower your monthly payments by using a home equity loan and use the extra money you save every month to pay down the principle amount of the debt.

 

Start Today and Consolidate your Debts

Are you ready to pay less interest?  Are you ready to access the cash in your home to pay off those high interest credit cards and reduce your stress by taking control of your debts?

In the business of debt consolidation, home equity loans, refinancing and mortgages since 1994, the Mortgage Brokers atOne Stop Mortgage can help. 

A simple phone call to 1-877-874-8988 or 604-874-8988 or an email to sergio@onestopmortgage.ca can change your life today with instant approval to get the cash you need today.

Take control of your debt, free yourself from multiple monthly payments at high interest rates and set up a home equity loan today to consolidate your debts. 

1 877 874 8988 (toll free)
604 874 8988
604 874 9109 (fax)
 

 

One Stop Mortage phone number

 

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