{"id":1825,"date":"2016-08-31T20:14:21","date_gmt":"2016-08-31T20:14:21","guid":{"rendered":"https:\/\/www.matrixmortgageglobal.ca\/?p=1825"},"modified":"2016-08-31T20:14:21","modified_gmt":"2016-08-31T20:14:21","slug":"debt-consolidation-start-fresh","status":"publish","type":"post","link":"https:\/\/www.matrixmortgageglobal.ca\/oldlive\/debt-consolidation-start-fresh\/","title":{"rendered":"Debt Consolidation: Breaking The Cycle &#038; Starting Fresh"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1828 aligncenter\" src=\"https:\/\/www.matrixmortgageglobal.ca\/wp-content\/uploads\/2016\/08\/Debt-Consolidation.png\" alt=\"Debt Consolidation\" width=\"522\" height=\"417\" data-id=\"1828\" srcset=\"https:\/\/www.matrixmortgageglobal.ca\/oldlive\/wp-content\/uploads\/2016\/08\/Debt-Consolidation.png 522w, https:\/\/www.matrixmortgageglobal.ca\/oldlive\/wp-content\/uploads\/2016\/08\/Debt-Consolidation-300x240.png 300w\" sizes=\"auto, (max-width: 522px) 100vw, 522px\" \/><\/p>\n<p><strong>Debt Sucks, and freedom from debt is the sweetest relief of all.\u00a0<\/strong>Using your home equity to consolidate debt could save you\u00a0<em>hundreds<\/em> of dollars\u00a0per month. If you have a significant amount of credit card debt, tax arrears, personal loans, etc. you will seriously want to consider refinancing to consolidate your debt into a new mortgage.<\/p>\n<p>Don&#8217;t know how it works? That&#8217;s alright, we&#8217;ve got you covered! Here&#8217;s a short video clip to explain the process:<\/p>\n<p><iframe loading=\"lazy\" title=\"Debt Consolidation Explained - Reduce Your Debt Without a Consumer Proposal or Bankruptcy\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Us-t3UWAEo4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>To clarify, here&#8217;s the basic benefits of debt consolidations:<\/p>\n<p><strong>1) High interest rates<\/strong><br \/>\nMany credit cards have extremely high interest rates associated with them, reaching 20% or more. If this is the case for you, your debt tends to grow faster than you can pay it off.<\/p>\n<p>Matrix Mortgage Global can consolidate credit cards into a new mortgage at a lower interest rate, which means this cycle of minimum payments and growing balances comes to an end. Not only does this save you money every month, but it saves money in the long run, too!<\/p>\n<p><strong>2) High monthly payments<\/strong><br \/>\nHigh interest rates and balances mean high monthly payments. If something happens where cash flow becomes tight, such as the loss of the job, unexpected family emergencies or loss of health; these payments can be more than someone can handle. What happens next? A stressful domino effect of missed monthly payments, harassing phone calls from creditors and <em>increased<\/em> interest rates.<\/p>\n<p>By using your home equity to consolidate your existing debt, Matrix Mortgage Global puts all that to an end and makes the debt more manageable.<\/p>\n<p><strong>3)\u00a0Too Many Bills To Keep Track Of<\/strong><br \/>\nHaving numerous bills to stay up to date with at different times of the month can make it difficult to keep track of. Mistakes happen when you&#8217;re not sure what payment is due when, and for how much. By refinancing or getting a 2nd mortgage, there is only <span style=\"text-decoration: underline;\">one<\/span> payment each month, and for far less at that!<\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>Example:\u00a0<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">Mastercard:\u00a0<\/span><br \/>\nBalance: $10,000<br \/>\nInterest Rate: 19.99%<br \/>\nMinimum Monthly Payment: $380.00<\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">Store Credit Card:<br \/>\n<\/span>Balance: $6000<br \/>\nInterest Rate: 29.99%<br \/>\nMinimum Monthly Payment: $260.00<\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">Visa:<br \/>\n<\/span>Balance: $8000<br \/>\nInterest Rate: 24.99%<br \/>\nMinimum Monthly Payment: $320<\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">Tax Arrears:<br \/>\n<\/span>Balance: $12,000<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><span style=\"text-decoration: underline;\"><em>Total Debts: $36,000<br \/>\n<\/em><\/span><span style=\"text-decoration: underline;\"><em>Total Monthly Payments: $960<\/em><\/span><\/span><strong><span style=\"text-decoration: underline;\"><em><br \/>\n<\/em><\/span><\/strong><br \/>\n<span style=\"color: #000000;\"><strong><span style=\"text-decoration: underline;\">Debt Consolidation (2nd Mortgage)<br \/>\n<\/span>Debt: $0<span style=\"text-decoration: underline;\"><br \/>\n<\/span>2nd Mortgage: $36,000<\/strong><\/span><br \/>\n<span style=\"color: #000000;\"><strong>Interest Rate: 12%\u00a0<\/strong><\/span><br \/>\n<strong><span style=\"color: #000000;\">New Monthly Payment: $360.00\u00a0<\/span><br \/>\n<span style=\"color: #00ff00;\">Monthly savings: $600 + Tax Arrears Up To Date<\/span><\/strong><\/p>\n<p style=\"text-align: left;\">Here at Matrix Mortgage, we love seeing our clients go from the red to the\u00a0<strong>black.\u00a0<\/strong><em>To make your home equity work for you and free up your cash flow with a debt consolidation, get in touch at 1-800-429-0717 or talk with our chat support.\u00a0<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1829 aligncenter\" src=\"https:\/\/www.matrixmortgageglobal.ca\/wp-content\/uploads\/2016\/08\/debtfree.jpg\" alt=\"debtfree\" width=\"400\" height=\"400\" data-id=\"1829\" srcset=\"https:\/\/www.matrixmortgageglobal.ca\/oldlive\/wp-content\/uploads\/2016\/08\/debtfree.jpg 400w, https:\/\/www.matrixmortgageglobal.ca\/oldlive\/wp-content\/uploads\/2016\/08\/debtfree-300x300.jpg 300w, https:\/\/www.matrixmortgageglobal.ca\/oldlive\/wp-content\/uploads\/2016\/08\/debtfree-150x150.jpg 150w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Debt Sucks, and freedom from debt is the sweetest relief of all.\u00a0Using your home equity to consolidate debt could save you\u00a0hundreds of dollars\u00a0per month. If you have a significant amount of credit card debt, tax arrears, personal loans, etc. you will seriously want to consider refinancing to consolidate your debt into a new mortgage. Don&#8217;t&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":["post-1825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth-credit-management"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.4.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Debt Consolidation: Breaking The Cycle &amp; Starting Fresh - Matrixmortgageglobal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.matrixmortgageglobal.ca\/oldlive\/debt-consolidation-start-fresh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Debt Consolidation: Breaking The Cycle &amp; Starting Fresh - Matrixmortgageglobal\" \/>\n<meta property=\"og:description\" content=\"Debt Sucks, and freedom from debt is the sweetest relief of all.\u00a0Using your home equity to consolidate debt could save you\u00a0hundreds of dollars\u00a0per month. 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