DEBT CONSOLIDATION
Utilizing your home equity can be the best way to consolidate high interest debt
What does
Debt Consolidation mean?
Debt consolidation is a financial strategy that involves combining multiple high interest debts into a single, more manageable loan. The primary goal of debt consolidation is to simplify the repayment process, reduce the overall interest rate, and make it easier for the debtor to meet their financial obligations.
HOW IT WORKS
You can take out a secured, low interest loan from your property, and use it to pay off high interest debt. Here's a simple diagram to explain.
1. Assess if debt consolidation is right for you. Calculate total debts and mortgage
2. Get mortgage approved and use the proceeds to pay off high interest debt.
3. Create an action plan and start your new journey on becoming debt free
1. Take out a secured, low interest mortgage.
STEP 1
CONSULTATION
Let's chat over coffee and figure out how you can be debt free!
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We'll review current debts and challenges
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Review potential obstacles, desired outcome, and a future action plan
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Decide if debt consolidation is right for you
Find the best option that works for you, and get approved!
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Choose the best options (Ex: refinance, HELOC, private)
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Submit required documentation
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Get the best rate with desired benefits
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Sign and get one step closer to being debt free!
STEP 2
GET APPROVED
STEP 3
DEBT FREE
BECOME
The best part! Becoming debt free with an action plan!
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Your lawyer will distribute the funds towards all your debt
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Closing costs will usually be from closing funds
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Together, we will create a financial strategy to continue your journey towards financial freedom