WINESTONE LAVAL Mortgages and Advisory Services: How Debt Consolidation SAVES your clients money!
WINESTONE LAVAL continues to be committed to providing you, our strategic partner, with timely and useful information so you can help more people along their financial journey.
It has come to our attention that many consumers have questions about how to strategically consolidate debt and enhance their credit profile. We want to share some really valuable information with you.
First and foremost, there are MANY reasons why people might choose to consolidate debt, and they are all valid reasons. There is good debt (e.g., mortgage or a line of credit for emergency) and bad debt (high interest credit cards carrying a rolling balance). Debt consolidation can have a negative connotation – just thinking about the words themselves can make people unhappy! This said, rolling bad debt into a low rate mortgage is perhaps one of the smartest financial steps you can take for yourself and your family – as long as you then have a workable plan to ensure that you borrow smartly and prudently moving forward!
Here’s a recent story from one of our strategic partners, an accountant, who referred someone to us who really needed help, and quick!
“Before contacting the WINESTONE LAVAL team, I was a little embarrassed about my current financial situation. My accountant encouraged me to make the call. I was ashamed that I had accumulated outside debts – bad debts! – that were piling up due to high interest payments. I decided that I had nothing to lose so I contacted Michel back when he left a message for me to see what my options might be.”
Just as we do with every opportunity we are presented with at WINESTONE LAVAL, no matter how big or small, we took a non-judgemental look at the current debts and it was immediately apparent that the $2000+/MONTH in debt payments could easily be consolidated into the existing mortgage. With this special type of refinance, we were able to place $150,000 of debt into the mortgage, adding to the mortgage balance but saving more than $100,000 in interest payments over the term of the new mortgage and improving the client’s monthly cashflow by over $1500/month! Adding this extra balance to the mortgage only increased the mortgage payment by approximately $300 per month – could you imagine the relief?!
After the quick and easy process of meeting with the WINESTONE LAVALteam to talk about his options, the client was on his way to more financial freedom, and all it took was (1) trust in the strategic partner, (2) the strategic partner making the call to us and (3) a free no obligation consultation with our team.
A couple short weeks later, the consolidation process was complete and the client had this to say:
“I really wish that I hadn’t waited so long to talk to my accountant and the WINESTONE LAVAL team about my debt. The process was so much easier than I imagined, and the extra money my family is now saving is being put into an account for my children and we are even on our way to purchasing an investment property in the fall! None of this would have been possible without reaching out to my accountant and the WINESTONE LAVAL team.”
So – if you know someone who may be in a similar situation, or if you would just like us to take a look at their current scenario to see if we can optimize their mortgage options , contact us today!
We look forward to our next discussion with you or anyone you wish to refer to us!