Keeping your finances in order and staying on top of debt can be troublesome for many Canadians. Luckily, you can use the equity you have built up in your home to help consolidate your debts and manage your finances.
There are several home equity products on the market that can be used to help repair your credit, including home equity loans and lines of credit, second mortgages, and mortgage refinances.
You can use the loan amount to pay off several smaller debts, so you only have one loan-and one monthly interest charge-to worry about. And by finding the lowest rate, you can actually lower your monthly payments and pay off the principal faster.
Whatever your situation, look for a mortgage firm that can provide you with a credit repair consultation, find you the best terms and rates, and help you create debt consolidation and credit repair strategies.
