By refinancing your mortgage for credit consolidation, you can take your existing home equity and use it to convert high interest credit card and consumer debt into one secure, low interest mortgage payment.
The average Canadian credit card has an interest rate of 18%, and it’s been like that for years. Mortgage rates change much more often but they’ve been significantly lower than credit card rates for decades.
If you have been carrying unsecured high interest rate debt for longer than 6 months, you’re just giving away your hard earned money to the banks and credit card companies right now, which is really nice of you, but can’t you think of better things to do with that cash? With collateral mortgages and unsecured debts, the bank are really good at scooping up more of your money in interest. It’s time for you to break that cycle. Let MorCan Direct help with sound, unbiased mortgage advice.