Posted by: MonsterMortgage.ca
With Christmas just around the corner, we look at how the holidays tend to be the season when mortgage holders typically increase their debt loads by maxing out credit cards and lines of credit. Most people prefer to wait for January to roll around before they start to consider how to reduce their credit card payments which carry interest rates in the mid to high teens. The solution, eliminate credit card debts which charge high interest rates by refinancing your mortgage at a lower interest rate so you can increase your cash flow and keep more money in your pocket in the new year.
This week’s video blog looks at different ways you can benefit by breaking your mortgage, adding your bad debts to it and refinancing your mortgage at a lower interest rate then what you would pay your credit card company and come out further ahead in 2011.