I’m Swimming in High Interest Debt Payments – What Do I Do?

Author: Boychuk Mortgage Group |

  • Consider consolidating that high interest debt into a low interest option like your mortgage.
  • For every $400 in monthly debt payments that you consolidate, you will gain about $100,000 in additional mortgage financing PLUS lower your overall monthly payments.
  • This strategy results in saving you thousands of dollars each month and can help you increase your total borrowing power.
    o Let’s look at a quick example:
    o $25,000 car loan
    o $750 monthly payments
  • By consolidating this car loan into your mortgage, you will save $75,000 & about $350 on your total monthly payments.