Second Mortgage Debt Consolidation in Brampton for $180k

Here is how Brampton Mortgage Broker – Rumy Gill, helped Ralph, a resident of Brampton with a Second Mortgage Debt Consolidation in Brampton for $180k.

Ralph was looking for help with Debt Consolidation to free himself from the high monthly payments he was making and needed an Equity Take Out for a down payment on a Builder home he was looking to purchase the following year.

Ralph had plans to sell his home and buy a builder home in the next year, which would allow him to move closer to his 3 children who had all planned to move into a new sub division in Brampton. This move would allow him to be close to his children and his grandchildren.

Ralph needed a Second Mortgage arranged  to make this happen but, he learned very quickly the Banks were not able to help him due to his Bad Credit and his income of $60k was not enough for him to qualify with the Bank guidelines. although Ralph had a lot of Equity in his property, he was turned away and declined.

Disappointed and frustrated with the outcome from his Bank, Ralph contacted me, Brampton Mortgage Broker – Rumy Gill to help with arranging financing. After speaking with Ralph and understanding what Ralph was looking for, I was able to help arrange a  Second Mortgage Debt Consolidation customized just for Ralph’s needs.

Since Ralph owned his Brampton home and had a value of $750k, it made more sense to leave the existing RBC Mortgage of $300k in place, which had a penalty of over $12k to break, and just get the financing he needed.

By keeping the $300k RBC Mortgage in place on his Brampton home, Ralph was able to get a Second Mortgage Debt Consolidation for $180k  and it only cost Ralph $1,461/month. These low monthly payments allowed Ralph to access his homes equity and lower his monthly payments he was making on his High Interest Debts he was fighting with. These payments amounted to $2,300/month. Ralph was able to save $839/month, get access to his Homes Equity for the Down payment he needed for the Builder home he was looking to purchase.

Contact Brampton Mortgage Broker – Rumy Gill Today to get the Best Second Mortgage Debt Consolidation Options for your Situation.

Second Mortgage Debt Consolidation | Brampton Mortgage Broker - Rumy Gill
Second Mortgage Debt Consolidation | Brampton Mortgage Broker – Rumy Gill

 

Rumy Gill – Mortgage Broker

Direct: 416-855-0545 Ext 101
Email: Rumy@BramptonMortgageBroker.com

Office : 2260 Bovaird Dr. E. Unit 202A
Brampton, ON L6R 3J5

Mortgage Intelligence Inc. – Lic# 10428