Mortgage Brokers - Consolidating Credit: Newly Written Strategy - Canada

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RE: Consolidating Credit: Newly Written Strategy

Postby nameuser » Sun Aug 23, 2009 07:16:35 PM

And I appreciate the response.

I guess that I take the context of the debt part of this forum a little more literally than the other areas, as it is where I post most often. I was only referring to your post here as an advertisement :) Understand that a lot of people join forums to post "hey check out my site." Which, considering your post count, is not your intention so I do apologize if that was unclear or an unwarranted statement.

I was merely suggesting that most people who had delinquent debts don't have as much ability to use their mortgage. Either due to lack of equity, or poor credit. Which can sometimes lead them to take high interest second mortgages that don't benefit them at all.

If one were to use the outlined strategy while just meeting minimal payments on higher interest debts then yes I would agree that your article outlines the benefits.

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RE: Consolidating Credit: Newly Written Strategy

Postby ShopMyMortgage » Wed Dec 14, 2011 11:54:28 AM

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RE: Consolidating Credit: Newly Written Strategy

Postby nameuser » Sat Oct 22, 2011 06:16:40 AM

It looks more like an advertisement for a mortgage broker that wants clients than an article geared towards helping people who are in debt.

No offense, I realize you want people to consolidate debt through home equity however this "strategy" wouldn't work if you are in debt and not a home owner.

Also, the fact that people with poor credit have to pay higher interest rates (and broker fee's) on a mortgage or 2nd mortgage usually cancels out any benefit one could have from 1 payment with a new mortgage.
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Consolidating Credit: Newly Written Strategy

Postby ShopMyMortgage » Wed Dec 14, 2011 11:54:37 AM

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