Its A Good Time For Debt Consolidation
“There Are a Number of Factors That Make This a Great Time For Toronto Debt Consolidation”
If you’ve got a bunch of short term, high interest rate debt that you’re having trouble paying down and getting on top of, now is a great time to consider Toronto debt consolidation, utilizing your home equity to fuel the consolidation process.
There are lots of reasons why debt consolidation via mortgage financing or refinancing makes a lot of sense. But on top of all the very good reasons and strategies to get rid of higher interest costs, there is not likely to be any better time to actually get it done than right now for a number of very good reasons.
First and most obvious is the low interest rates we have been enjoying and continue to enjoy. That being said, there is no guarantee that the current rates will continue at these unprecedented levels. Any future increases, which are more likely than not, will be taking money out of your pocket of your future debt consolidation activities.
Second, the housing market, largely driven by the interest rates is over heated at the present time with properties being sold fast and furious at sometime inflated values depending on where you live. Because debt consolidation via mortgage refinancing is based on equity in the property, you’re likely going to see strong housing prices in most areas at the present time, providing the greater potential to have more available equity for a refinancing, debt consolidation action.
At the same time, news reports are now talking about the housing market cooling off in the coming months. And any cooling off may directly impact the available equity you have to work with. Remember that when housing prices fall, so does the amount of equity, so right now could be the best time in the foreseeable future to get the most additional money in your hands to pay down or pay out short term debt.
So for people living in the GTA, there is no better time than the present, for a whole bunch of reasons, to get busy with your Toronto debt consolidation process.
If you are considering debt consolidation and need some assistance, I suggest that you give me a call so I can quickly assess your situation and come up with a variety of relevant refinancing options we can go over together.
About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel