Debt Consolidation Mortgage
Mortgage Agent in Mississauga, ON
Consumers, realtors, and builders rely on us to shop the lender market and coordinate their best financing alternatives.
Refinance and pay off the debt and make one payment to mortgage.
Consolidating your debt in to a single low-interest monthly payment can save you thousands of dollars and speed the process of paying off debts. As a bonus, over a period of time you can improve your credit.
Debt consolidation is considered by many experts as the first step in the process of debt elimination and the prelude to improving your money management skills. The following table demonstrates the savings that are possible from a typical scenario:
| Sample Debt Consolidation | After Consolidate | |||||
|---|---|---|---|---|---|---|
| Creditor | Balance | Payment | Creditor | Balance | Payment | |
| Mortgage | $400,000.00 | $1,900.00 | Mortgage | $545,000.00 | $2,450.00 | |
| Line of Credit | $50,000.00 | $600.00 | Line of Credit | $ - | $- | |
| Bank Loan | $40,000.00 | $550.00 | Bank Loan | $- | $- | |
| Credit Cards | $25,000.00 | $750.00 | Credit Cards | $- | $- | |
| Car Loan | $30,000.00 | $600.00 | Car Loan | $- | $- | |
| Total Payments | $545,000.00 | $4,400.00 | Total Payments | $2,450.00 | ||
| Total Monthly Savings | $1,950.00 | |||||