Refinancing your property can help reduce high revolving debt by lowering your monthly mortgage payments.
This can be done by securing a new mortgage loan with a lower interest rate, which can reduce the amount you have to pay each month towards your mortgage. By lowering your monthly mortgage payments, you can free up more money to pay off your high-interest credit card debt, which can help reduce your overall debt burden.
Additionally, refinancing can also give you the option to extend the term of your loan, which can further reduce your monthly payments and make it easier to manage your debt.
Overall, refinancing your property can be an effective way to reduce high revolving debt and improve your financial situation.
Refinancing your property can help reduce high revolving debt by lowering your monthly mortgage payments. This can be done by securing a new mortgage loan with a lower interest rate, which can reduce the amount you have to pay each month towards your mortgage.
By lowering your monthly mortgage payments, you can free up more money to pay off your high-interest credit card debt, which can help reduce your overall debt burden.
Additionally, refinancing can also give you the option to extend the term of your loan, which can further reduce your monthly payments and make it easier to manage your debt.
Overall, refinancing your property can be an effective way to reduce high revolving debt and improve your financial situation.
Contact me to review your situation if you think a refinance might be a solution for you.
Mia Hollinger, CPA, Saskatoon Mortgage Broker
306-291-3817 mia@mortgagesbymia.ca