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Credit Card hangover? Make 2016 a painless year….

debt animationWe’re well into January… and right about now, some of us are avoiding the mail for fear of seeing those holiday bills!  Ok, so besides avoiding the mail, what’s the best way to tackle those debts?

Here’s some helpful ‘did you know’ questions…  Enjoy!

-Did you know that a personal loan will almost always have a lower rate of interest than a credit card?

-Did you know that a line of credit rate is usually lower than a personal loan interest rate?

-Did you know that a secured line of credit rate is lower than an unsecured line of credit rate?

-Did you know that mortgage rates are lower than all other credit products?

If you are a homeowner, have non-mortgage debt, and want to pay a lower rate of interest…?  Then, you should consider using the equity in your home to secure a better rate…. which ultimately means paying less interest and a lower monthly payment.

Hey, debt is debt.  It doesn’t matter if it’s a visa card, a line of credit or a mortgage.  You owe that money.  So why not pay the lowest rate of interest possible?  Sounds simple.. but Canadians have a conservative attitude towards mortgage debt that is costing most of them dearly, and making the BIG SIX BANKS $billions of profits every year.

Speak with an experienced Mortgage Broker for full review..  This could end up saving you a lot of money! And that’s one January surprise we’ll all welcome!

Your best interest is my only interest.   I reply to all questions and I welcome your comments.  Like this article?  Share with a friend.

Steve Garganis 416 224 0114

Steve Garganis View All

As an industry insider, Steve will share info that the BANKS don't want you to know. Steve has appeared on TV's Global Morning News, CBC's "Our Toronto" and The Real Life TV show. He's also been quoted in several newspapers such as the Globe and Mail, The Toronto Star, The Vancouver Sun, The Star Phoenix, etc.

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