When you get a mortgage approval for a first time home buyer, their lives are changed forever. It's a great feeling. However, sometimes mortgage brokers are called on to help people out of a bind.
January is the start of the new year and a challenge to many people. When the credit card bills come in after Christmas, there can be a sudden financial strain on the family budget.
With all the layoffs we have had in Alberta over the past 2 years, some people are having a tough time paying their bills and their mortgage.
This is when I don my blue cape and become a super -hero.
There are a number of ways that a mortgage broker can help home owners:
1- we can set up a line of credit using the equity in their home to pay off high interest credit cards and get the family back on track.
2- we can set up a second mortgage to pay off the bills and perhaps a car loan as well.
3- refinancing the mortgage to either pay off bills or to just lower monthly payments is another option.
4- re-negotiating the mortgage to skip a payment or extend the amortization to lower monthly payments or lowering the payments for a few months can also be a consideration.
As you can see there are a number of possible solutions to money problems if you contact your mortgage broker before you get into foreclosure or have bill collectors calling.
Let your mortgage broker be your super hero , it's all part of the job of changing people's lives.
For more information or help on picking the best option for you contact me : http://davidcooke.ca
or call me 403-836-1201
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