Our team has received multiple calls from clients asking whether or not they should be renewing their mortgage or changing their terms in light of fluctuating rates and unexpected cash-flow limitations. To help guide your basic questions, we put together a simple chart that outlines the status quo for existing mortgage holders, what a switch-up means for you and our advice at this time. We’ve also included a column for those who are in the process obtaining or renewing their mortgage. With general information like this, it’s important to emphasize that every financial situation is different and if this chart leads to more questions – you should reach out for your custom solution, tailored for your personal circumstances.
There is no doubt that many of us are facing difficult financial times ahead. A loss of job, or partial income can be extremely stressful for those carrying extra debt. If this sounds like you or someone you know, it may be worthwhile to consider a refinance strategy. Consolidating your debt for one predictable payment allows you to focus, reduce your risk, and improve cash flow. If you are considering this, our advice is to act now and reach out.
In case you missed the announcement on social media, Susanna was featured in Canadian Mortgage Professional’s special report that highlights 75 top brokers in Canada! This recognition is humbling for Susanna and exciting for all the rest of us who get the opportunity to know and work with someone who strives for excellence and quality in everything she does. Below we’ve attached a link to this month’s issue which is full of great content for you to review.
