Where a client already owns a house with equity but also has a load of debts that keep getting bigger and bigger month after month, a mortgage broker at Lifeline Financial can use the equity in the home to pay off these nagging debts.
When this is achieved, the borrower’s credit rating can shoot up too high levels very quickly. So, therefore, debt consolidation with the mortgage loan is usually a short term solution for say one year.
This is usually enough time to improve a client’s credit rating. After one year, a mortgage broker at Lifeline Financial can help the client get the best mortgage rates available in the market.