{"id":16646,"date":"2020-09-18T15:46:23","date_gmt":"2020-09-18T15:46:23","guid":{"rendered":"https:\/\/nomoredebts.org\/?page_id=16646"},"modified":"2023-08-26T17:30:57","modified_gmt":"2023-08-26T17:30:57","slug":"consolidate-debts-second-mortgage","status":"publish","type":"page","link":"https:\/\/nomoredebts.org\/debt-help\/get-out-of-debt\/consolidate-debts-second-mortgage","title":{"rendered":"Get Second Mortgage Help & Alternatives to Costly Home Refinance Loans"},"content":{"rendered":"

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Second Mortgages<\/p>\n

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Help & alternatives to expensive home refinancing loans in Canada.<\/p>\n

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Understanding Second Mortgages in Canada<\/h1>\n

Are you trying to get or take out a second mortgage or refinance with a home equity loan in Canada? If you\u2019re trying to consolidate credit card debt at a lower interest rate, are struggling to afford your mortgage payments, or are thinking of applying for a bad credit 2nd mortgage, you need to carefully explore all your options and find out what\u2019s going to help you the most in the long run. If you feel you really need to do something today, you\u2019re probably not very interested in talking about the \u201clong run.\u201d But what if you could solve your problems today and position yourself to accomplish your long term goals at the same time? We\u2019re a non-profit service, and we\u2019re here to help you figure out your best options. Your options can range from a conventional 2nd mortgage, to creative ideas, to re-structuring your budget \u2013 even to a debt relief program.<\/p>\n

If you approach your situation from a fresh perspective, with an open mind, with an objective, highly trained professional, new possibilities can emerge that you may not have considered. At the very least, you\u2019ll know that you\u2019ve left no stone unturned, and you\u2019ll receive some great, independent advice that will either confirm the direction you think you need to go or give you some additional things to think about or work on.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|tablet” next_background_color=”#e4f8e0″ _builder_version=”4.16″ _module_preset=”default” custom_margin=”||0px||false|false” custom_margin_tablet=”||0px||false|false” custom_margin_phone=”||0px||false|false” custom_margin_last_edited=”on|phone” custom_padding=”160px||87px||false|false” custom_padding_tablet=”155px||60px||false|false” custom_padding_phone=”179px||132px||false|false” top_divider_style=”ramp2″ top_divider_color=”#e7dff3″ top_divider_style_last_edited=”off|tablet” bottom_divider_style=”curve2″ global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on” da_disable_devices=”off|off|off”][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” _builder_version=”4.16″ width_tablet=”80%” width_phone=”80%” width_last_edited=”on|phone” custom_padding=”0px|||||” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ animation_style=”slide” animation_direction=”left” animation_intensity_slide=”2%” custom_css_main_element=”margin: auto;\t” global_colors_info=”{}”][et_pb_image src=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/08\/need-help-to-deal-with-debt_2colm.jpg” alt=”Help To Deal With Debt” title_text=”need-help-to-deal-with-debt” align_tablet=”center” align_phone=”” align_last_edited=”on|phone” _builder_version=”4.22.0″ custom_padding_tablet=”||40px||false|false” custom_padding_phone=”||30px||false|false” custom_padding_last_edited=”on|phone” hover_enabled=”0″ border_radii=”off|200px|20px|200px|20px” box_shadow_style=”preset2″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ min_height=”372px” custom_padding=”27px|||||” animation_direction=”top” global_colors_info=”{}”]<\/p>\n

Avoid This Trap
It Even Happens With Canadian Second Mortgages & Home Equity Loans<\/span><\/h2>\n

A common trap we tend to fall into in our society is thinking that consolidating our debt is a “solution” that\u2019s going to solve the problem. While this thinking seems to make sense on the surface \u2013 replacing a higher\u00a0interest rate loan\u00a0with a lower\u00a0interest rate loan\u00a0and combining many payments into one payment \u2013 it actually doesn\u2019t work for the majority of people. The reason is that for most people, consistently spending more than they earn created the problem, and if they don\u2019t\u00a0create a spending plan<\/a>\u00a0to bring their spending into line, they will re-accumulate the debt at the same time they are paying down their consolidation loan. This even happens to home owners in Canada when they\u00a0refinance\u00a0using\u00a0equity\u00a0in their\u00a0home\u00a0by\u00a0getting a second mortgage loan.<\/p>\n

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How We Can Help<\/h2>\n

Helping people put together a spending plan or fine tune the one they have is something we are experts at. Within around 20 minutes, we can help you create a realistic spending plan (budget) to make sure your spending is in line with your income and you\u2019re positioning yourself to achieve your financial goals. Our Credit Counsellors are also a vast resource of strategies and ideas to help tackle whatever financial challenges you may be facing. They won\u2019t hesitate to refer you to a financial institution for a\u00a0second mortgage\u00a0if that looks like your best option, but they\u2019ll also point out any other alternatives that may be available to you. The bottom line is that within 5 years from now, you want to have any expensive debt paid off so that you\u2019re left focusing on paying down your\u00a0first mortgage\u00a0at a reasonable\u00a0current, interest rate.<\/p>\n

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Avoid putting your home at unnecessary risk.<\/h3>\n

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Refinancing with expensive debt.<\/h3>\n

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Don\u2019t put your home in Canada or your equity in it at unnecessary risk by taking out or refinancing a second mortgage loan at high interest rates. Give us a call and make an appointment to speak with one of our highly trained, professional Credit Counsellors. Appointments with them are free, non-judgmental, and completely confidential. We\u2019re simply here to help you.\u00a0Give us a call today<\/a>\u00a0at 1-888-527-8999.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n