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Did You Over Spend During the Holidays?

Red Deer Refinance

Could a Refinance Help with Those Holiday Bills?

Did You Overspend During the Holidays?
If you extended your budget, you’re not alone. It’s really easy to get caught up in the holiday spirit and be generous when your bank account and credit card bills clearly show you would have been better off playing the role of Scrooge.
But, now, with the high cost of holiday gift-buying and entertaining in your rearview mirror, there’s no time like the present to take charge of your finances and begin your year on the right foot.
Start fresh with a mortgage refinance
Refinancing your mortgage and freeing up some money to pay off unsecured high-interest debt on your credit cards, line of credit or loan, can be a very liberating move.
You’ll find that taking equity out of your home to pay off debt will also keep more money in your bank account each month – funds that would otherwise be put towards debt payments and interest. 
And since interest rates are still near historic lows, securing a lower rate may save you a lot of money in the future should rates rise – possibly thousands of dollars per year.
There are penalties for paying your mortgage out prior to renewal, but these can often be offset by the money you save by not having to pay debts every month. I can examine your specific situation to see if a refinance is right for you.
By refinancing you may also extend the time it’ll take to pay off your mortgage. That said, there are many ways to pay down your mortgage sooner to save you thousands of dollars in interest. I can help you build a plan.
Create a plan
With access to more money, you’ll not only be better able to manage your current debt, but you can also think ahead by taking out some existing equity to make some investments, go on vacation, do some renovations or even invest in your children’s education. 
By refinancing now and paying off your debt, you can put yourself and your family in a better financial position for 2018 and beyond. It’s very important to not rack up your credit cards and other high-interest debt after refinancing, however, so set your goals and budgets, and stick to them! I can help you budget to ensure this refinance puts you on track for future success.
Have questions about refinancing or your mortgage options in general? Answers are just a phone call or email away!

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