Being a mom has shaped the way I do everything...not just at home but in my work, as well. It has helped me understand the depths of commitment that my clients have to their families. As a mortgage specialist, I have the privilege of helping people achieve their dreams for their families. I'm so grateful to be able to offer people the advise and information they need to make reaching their goals as simple as possible. My purpose with this blog is to provide tools that will help new or current homeowners reach whatever goals they have set for themselves. If you have ideas you'd like to hear about, let me know.

Tuesday, 20 September 2011

The Key Benefits of Consolidating Your Debt


Lower monthly payments

When you consolidate your debts, you may find yourself paying a lower overall interest rate than the combined rates on all your debts. You could also extend your term to reduce your monthly payments even further. Remember, even if you do extend your term, you can always pay more than the minimum monthly payment at any time.

Save on credit card interest

Include your outstanding credit card balances in your debt consolidation and you could reduce your interest rate quite substantially, depending on the rates charged by your cards.

Leverage the equity in your home to save even more

Using the equity in your home to secure your consolidated debt will typically mean an even lower interest rate. With the appreciation in home values over the last few years, this option could make sense for many people.

One monthly payment

Consolidating your debt can greatly simplify your financial life.

Have your debt in one place

Centralizing your debt at one financial institution will save you time in your day to day banking. RBC offers a selection of borrowing options along with 24 hours 7 days a week access through on-line and telephone banking to view and transact as needed.
For more information visit the RBC Advice Centre.
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