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Credit Counselling Canada and the Canadian Bankers Association have collaborated to provide Canadians with a simple way to assess their financial health and find help if they need it.

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Lynette Zang is an economist that has been involved in the markets at some level since 1964, as a student, banker, stockbroker and precious metals and currency analyst. She has been studying currency lifecycles since 1987 and discovered similar social, economic, and financial patterns that occur throughout the stages of a currency’s lifetime. She believes that recognizing these patterns enables people to see what’s coming and make well-informed choices that put their best interest first.

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Transcript

Is debt consolidation a good idea? [Reasons to Refinance Part 2]

Firstly, what is debt consolidation?

Debt consolidation is basically the act of combining your current debt obligations (such as credit cards and personal loans) into a single payment, either through one comprehensive debt consolidation loan or an increase in your home mortgage to clear out existing debts.

So, when is debt consolidation a good idea?

Consolidating your debt may be an excellent option to save money and reduce what you owe rapidly, provided that the interest rate on the new loan is lower than those of your existing debts. Yet, it’s essential to make sure that when considering overall fees, charges and interest rates combined together, this solution is more cost-effective than any other options out there.

Watch full video to see what are Good Reasons to Refinance your Home Loan — https://youtu.be/3lBxSSE2naE

Visit our YT channel for more videos on economy, personal finance and home loans! – https://www.youtube.com/@willbellmortgagebroker

WILL BELL MORTGAGE BROKER
Suite 1, 13-15 Thompson St., Frankston, VIC 3199
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?Is it ever a good idea to refinance?
?What are the benefits and risks of refinancing?
?What are the risks of refinancing?
?What will happen if I refinance my house?
?What are the reasons not to refinance your home?
?Is debt consolidation a good idea?
?What are the pros and cons of debt consolidation?

#refinancing #refinance #homeloans #debtconsolidation #consolidatingdebt #mortgagebroker #mortgageprofessional #MortgageBrokerFrankston #MortgageBrokerMelbourne

The Credit Counselling Society is a registered, non-profit service for consumers. Since opening in 1996, we have helped over 500,000 people across Canada learn how to: solve debt problems, manage money better, use credit responsibly. We can help you too! Connect with one of our Counsellors by phone, in person or through live on-line chat. Ask us any questions you may have. We are an award winning non-profit credit and debt counselling service that helps people find the right debt consolidation options and solutions to deal with debt. 98% of clients recommend our help.