Posted in Getting crushed by high credit card and loan payments?
Just yesterday we closed a mortgage restructure for a local family that had the following debt stucture prior to speaking with us:
1st mortgage: $1260/mo @ 5.04%
2nd mortgage: $1100/mo @ 12.99%
Credit cards - $1050/mo @ 22.99%
Credit lines - $1290/mo @ 11.99%
So a total of $4700/mo in payments, with an average rate of 12.2% on the debt.
After consolidating, we not only dropped the interest rate below 5%, but ended up with a payment of just under $2000/mo! With savings of $2700/mo or $32,400/year, they not only eliminated a ton of stress and anxiety, but started a healthy savings plan to help make retirement seem like more of a reality.
There is no need to be embarrassed by your current financial situation, as we've seen it all. We aren't here to judge. What we are here to do, however, is to help put together a pragmatic plan to help you save as much $ as possible.
Confused where to start? That's what we're here for. Call (613)394-5810 or send us a message today!
