Debt Consolidation

Debt consolidation is simply combining many debts into one – with a single monthly payment. It can be an excellent way to take advantage of lower interest rates and simplify your payments.

Step 1: Personal Consultation

Your personal mortgage consultant will help you:

• Determine if debt consolidation is right for you
• Decide how much and when to borrow
• Understand the cost of transactions
• Consider the options: refinancing, second mortgage, line of credit

Step 2: Calculate Savings

We’ll calculate how much you can save then help you:

• Compare the various available options
• Explain the cost and benefits of each
• Choose the one that’s right for you

Step 3: Your Application

We’ll guide you through the application process:

• Your employment record, assets and liabilities
• Current mortgage information
• Credit card and loan statements
• A credit check

Step 4: Submit to Lender

The lender reviews your application and, once approved, issues a rate guarantee and a list of conditions.

Step 5: Financing

The lender sends the necessary funds to your lawyer:
Your lawyer pays off your old mortgage and your other creditors
You may have the option to keep your existing credit cards, line of credit, etc.