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Today more and more Canadians are finding themselves in debt. If you yourself are in this position, it can feel impossible to pay down. Whether you have student debt, debt incurred from an unexpected event like an illness or disability or simply debt that was the result of poor consumer choices, once you get into that cycle, it can feel like a hopeless situation. The good news is, that for most Canadians high-interest debt does not have to mean declaring bankruptcy. It can be overcome and paid off. And one of the best strategies for paying off debt faster is to consolidate those multiple high-interest debt payments in one payment with much lower interest. And at 1ONEFUND Financial, we offer a variety of mortgage debt consolidation strategies to help you do just that.
Our mortgage professionals have helped many homeowners just like you to get rid of their high-interest rates and pay down their debt more quickly. Some of the strategies that we offer include, home equity loans, refinancing, and second mortgages.
Regardless of what your financial situation is, our mortgage experts can help you select the right strategies and mortgage tools.
Not only can debt consolidation strategies help you lower your interest rate, but they can also help you lower the overall minimum payments that you are making on your debt. You may use this additional cash to pay off your principal more quickly, but you may also use it if you need more cash flow. One of the reasons why some people find getting out of debt so difficult is that they simply aren’t able to keep enough of their income and when something unexpected comes up – such as a car repair- they are forced to put the expense on their credit card.
With the extra cash flow you have after a debt consolidation, you can start an emergency fund for those unexpected events or put more money away for your retirement.
Another negative effect of debt is that it can harm your credit rating if you are unable to make your minimum payments on time each month. Fortunately, may of the debt consolidation strategies recommended by 1ONEFUND Financial do not require that you have good credit – they only require that you have some equity in your home. That means that even if you have poor credit, you will qualify for many of these mortgage tools – which you can then use to repair your credit.
1ONEFUND Financial Group Ltd is one of Ontario’s leading mortgage brokerages specializing in properties and areas that are overlooked by traditional institutions and lenders. With offices and agents right across Ontario, we work hard to ensure you get the mortgage you deserve with the best possible rates and terms for your situation. Over the course of our 16 years experience in the mortgage industry, we have developed strong relationships with dozens of lenders, and we have the expertise to match you with the right lender to meet your mortgage needs.
We specialize in a number of niche areas including lending on rural, agricultural and vacant land. Our knowledgeable agents will walk you through every step of the process from advising you on the type of mortgage you should be seeking right up until the signing of the final paperwork. Contact us today and experience that 1ONEFUND Financial difference!