REFINANCING AND DEBT
REFINANCING AND DEBT
Refinancing is a great way to eliminate your debt. This past summer as a real estate lawyer I handled many refinances. It was interesting to see that in some cases I had couples who were paying close to $10,000 in debt a month. A great deal of this has to do with hefty credit card bills and multiple lines of credits.
When refinancing mortgage companies will provide the borrower with a sum that is not only enough to pay off their current mortgage but also their debts. In fact, in almost all cases mortgage companies will make it a condition to pay off the debts.
In some of these couples situations who were paying close to $10,000 a month, with the refinance their monthly payment was $3000.
Not only were they able to sleep easier but it felt good knowing all that debt was paid off. The new mortgage company simply registers the sum against the property.
If you’re thinking of refinancing please call my office at 416-505-4901
REAL ESTATE LAWYER NEAR ME, BURLINGTON, OAKVILLE, MILTON
My address is 901 Guelph Line, Burlington.
You can also call or text at 416-505-4901
anytime for a free consultation