Refinancing Your Mortgage
If refinancing your mortgage to pay debts has been suggested to you, it is important that you understand how this would work. It is important that you are fully aware of the process and work with a mortgage broker or lender representative that understands all aspects of your situation. You do not need a quick fix solution but one that will cover your debt obligations and allow you to continue your lifestyle without future threat to your family home.
We can refer you to professional mortgage brokers who understand debt and poor credit history and who will work with you to access the best possible finance in your unique situation. Consolidating your credit cards and personal loans or other debt will take the pressure from you and give you a fresh start.
Consider Other Options
It may be possible to negotiate a moratorium or lower payments for a period, if you are behind with your mortgage. Most banks have financial hardship provisions to help you through difficult periods in life and this assistance may be enough to get you through. If your problem is more than just the mortgage, then you should call us so that you obtain a solution that covers everything.
Depending on your circumstances and level of debt, you may find that a Debt Agreement will work for you by wiping out interest on all credit card and personal loan debts and you can leave your mortgage as is, instead.
Ask For Help
Talking to us before you refinance can take away the worry of making decisions without being fully informed of all of the alternatives. Get all of the facts before you commit to refinancing your home.