Do you pay too much for your credit card debts?
Does your credit rating suffer due to many debts?
The mortgage loan is considered one of the cheapest loan programs in Canada. You are improving your cash flow by borrowing against the equity of your home.
By using equity funds to pay off high-interest credit card debt, your credit rating gains power. You may not need to break your existing mortgage. You can have an additional loan secured by your property. It can be done as a secured Line of Credit or Second Mortgage.
It makes sense to do this, even if there is only a year or two left until your current mortgage matures.
You will have all your debts consolidated under one comfortable payment, instead of hefty multiple ones. What is more important, is that after your credit rating improves, your credit profile will be more attractive to any lender, to whom you apply for refinancing later.
HOW TO FIND OUT IF YOU QUALIFY FOR IT: APPLY HERE