Own your home. Have outstanding debt? You can put the control back into your hands!

Worked Hard.

Purchased your home and raised your family.

Paid out your mortgage in full.

Retired.

Living on a fixed income.

Are you able to keep up or … that dream hasn’t been affordable in a while.

How is your quality of life?

With the changing economy and inflation, everything is rising and much faster since 2020 for many people. The prices of food, clothing, vehicle, home repairs and expenses are all going up and your income or your fixed pension is not keeping up. Do you have options? Has your Line of Credit Payments gone from $150.00 to $300.00 / month? Do you owe 15,000.00 on credit cards and not sure how to pay off the balance each month?

Amortization is no longer 25 years or under … it is 81 years? Now what?

There is hope!

For some homeowners there is an option, by re organizing your finances with a Mortgage and improving your life with some positive cashflow.

The statement that I’ve heard said many times is:

“My home is Mortgage Free, and I don’t want to touch the house as it is an inheritance for my kids and grandkids.” Is that comment really, true?

Did you know …if you have outstanding bills in the form of

• Credit Cards
• Lines of Credit
• CERB Repayment
• Personal and / or property taxes
• and / or another outstanding repair bill.

When you die all your outstanding debts will be paid out!

• Before your children and grandchildren will get any of the inheritance money … (that you are counting on them having.)

You, like most people don’t want to think about death, debt, and taxes. I know myself, as a Canadian I wanted to be an Ostridge. I didn’t want to get into that fight. How about you? Every person who lives on the earth and maybe in the future on Mars with Elon Musk will deal with death, debts, and taxes.

Presently you own your home and think that you are Mortgage free but are you drowning in debt?

In some extreme cases, your family will need sell your mortgage free home to pay out those outstanding bills. They will be forced to pay out those credit cards and lines of credit to make your estate whole.

Example:

• Mortgage Free home – Credit Cards Debt – Lines of credit Debt – Taxes – Fees = inheritance.
• 800,000 – 25,000 – 50,000 - taxes and fees = Inheritance

As a homeowner who is mortgage free you have options now to reduce that impact.

You can put the control of how you manage your finances into a positive cashflow position so you can live without the excess debt growing extremely. With these options can help to preserve some of your inheritance and in some cases a more cost-effective way.

Reach out and discuss your options.

Melinda Baker           Mortgage Broker M21000893                 Verico The Mortgage Station 11707

Phone: 705-220-1608            melinda@themortgagestation.ca              mortgageweb.ca/melindabaker