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Is It Beneficial to Refinance Your Mortgage for Debt Consolidation?
Debt consolidation is a popular way to avoid paying huge interest rates for existing debts. Through the process of debt consolidation, multiple debts are converted into just one easy-to-manage debt with just one billing instead of having to keep track of multiple bills a month. It works by borrowing enough money to pay off smaller debts to ‘convert’ them all into just one debt. One way to do so is to refinance your mortgage.
How to Get Rid of Debt in CanadaWith recent developments in world events, more Canadians are weighed down by debts these days. Almost everyone has credit card debts, personal loans, car loans, student loans, and other types of loans. It is easy to get buried in debt just by forgetting to pay one bill every now and then. Some people are so overwhelmed by multiple bills that all they can do is to pay off the minimum or just the interest in an effort to stay on top of their bills. By doing that, they keep paying without making a dent in the actual amount owed because all their payments pretty much go to covering just the huge interests. One delayed or missed payment can cause the debt ... more

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