Increasing Cash Flow Through Lower Payments
It is easy for debt to pile up and become unmanageable, especially when you have debt from numerous lenders with varying interest rates. You may be faced with the overwhelming task of balancing your credit card bills, auto loan payments, mortgage loan payments, and more.
If you are in this situation, you should consider debt consolidation, which allows you to combine your high-interest debts so that you only have to make one monthly payment under a lower interest rate. Furthermore, you can reduce your monthly payment amount by extending your repayment period. This is usually done by using your home equity as collateral. Our team at AKAL Mortgages can help you explore your options for debt consolidation.
Here are the key benefits of debt consolidation:
- Lower monthly payments resulting in increased cash flow
- Less money paid in interest due to lower interest rates
- Convenience of making just one payment each month (easier to manage your finances)
After working so hard to build up equity in your home, you might as well use it when you need it the most! Let our Mississauga and Brampton mortgage brokers help you get your debt consolidated so that you can get back on track again with your finances. For a free evaluation, call us at (416) 621-1300.