Debt Consolidation for Homeowners
Pay off Debt & Improve Credit
Lending Circle is an industry leader in helping Homeowners consolidate their Debt with Home Equity Solutions. We have helped hundreds of Canadians Get out of Debt. Do you have high interest credit card balances or other loans? Are you struggling to lower the debt balances? Do you often find yourself making minimum payments month after month? If yes, then Let’s talk! Lending Circle offers best solutions for homeowners to pay off Debt & Re-establish Credit for better future.
Most homeowners get declined by their existing mortgage holders due to their high debt load. We help Canadians get funds in hand by exploring home equity focused solutions. We offer equity based lending that isn’t qualified based on income or credit. The borrowers struggling with bruised credit or lower income can benefit from it. Our priority is to help our clients get the funds in hand to pay off debt to ensure they are set up for success. Our expertise, access to alternative & equity based lending helps us approve borrowers with lowest rates.
Home Equity Solutions to Consolidate Debt
Who should Consider it?
- Are you making multiple monthly payments towards Debt items?
- All of your cash flow is tied up in payments?
- Struggling to lower Credit Card Balances?
- Falling behind on mortgage or property taxes?
- Credit score is getting lower due to high debt load?
- Not able to put any money aside for savings?
Debt consolidation mortgage is a process of borrowing using the home equity to consolidate all debt items. Interest Rates on mortgage is much lower than credit cards or other unsecured debt. You can reduce your monthly expenses by 50% and make 1 monthy payment. Rebuild your Credit to obtain better financing options in the future.
Settle Your Debt or Pay it?
Consumer Proposal is a method of proposing to settle your debt for a percentage of the amount you owe. Once you file a consumer proposal it reports on your Credit report for 6 years. It creates a major challenge for borrowers as Banks or A lenders will not approve a mortgage for any individual until 2-3 years AFTER proposal has been Paid Out. Even getting a credit card becomes a challenge for most borrowers.
Home Equity Loan helps you rebuild your credit by paying off the high interest Debt & Personal items. Your Credit Score starts to climb up once debt is gone. Improving your Credit helps you get better financing options in the future. Homeowners can easily refinance their mortgages & prospective buyers can get pre-qualified for a new home mortgage with lowest rates possible.
Why Use Home Equity?
Using the Equity to eliminate debt can be an ideal option for clients struggling to lower their debt balances. Making minimum payments towards debt can be difficult. Not only, it ties up all of your cash flow; you are unable to lower the balances. The rates on average credit cards are usually over 19.99%+. Also, Carrying high debt amounts hurts your credit score. Lending Circle helps clients pay off the debt using Home Equity Solutions. In some cases, it has freed up more than 50% of clients’ monthly cashflow that was tied up by several minimum payments.
Credit score is the life-line of our financial health in Canada. It will be the main deciding factor if you consider buying a house, a car or a simple credit Card. Unfortunately, our education system is still lagging behind on how to train people to establish good credit.
Paying Off debt is just the starting step of our credit repair plan with our clients. We work closely with them throughout the mortgage term. We guide them with proven strategies & take out any guess-work. We educate our clients on different aspect of financial life that can impact their credit score.
- Pay off Credit Card Balances
- Make 1 Monthly Payment
- Get Cash in Hand
- Rebuild Credit in 6 Months
- Free-Up Monthly Cash Flow
- Reduce Monthly Expenses by 50%
- Get 6-12 Months with No Payment
- Lower Credit Utilization below 30% to boost Beacon Score
- Qualify for Lower interest Rates
- Improve Credit For Better Future
- Avoid Consumer Proposal or Bankruptcy
- Save Money for a Rainy Day
- Catch up on Life Goals