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Please help me to get out of this trouble.

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Joined: 19 May 2017
Location: Canada
Please help me to get out of this trouble.  Reply with quote  

Hi all,

I am in a trouble now. Please help me to get out of it. Buying a home was my dream and 3 years back, I bought my first home with a mortgage. It was a 15-year fixed rate mortgage. Actually, I was running a business then and I thought it would be easy for me to pay the monthly amount. But, the things were not going well then. My business started going down and it felt really hard for me to pay back the monthly amount. But, I found some other way for the payment. Now, there is no way for me to find money.

The credit card bill and car loan are other liabilities. What can I do in this situation? One of my friends suggested me for a debt consolidation. I don't know whether it would help me to solve my problems. But, I searched on the internet to find the details of debt consolidation and came to know that the monthly payment after consolidation is much lower than before. But, I am not confident to do so. I fear I would lose everything. Can you please suggest me something which would help me to move on?

What is your opinion about consulting a mortgage broker now? I came across one in Alberta and they have mentioned that they provide the best mortgage rates in Edmonton. As I don't have any other option, I think, I must approach them soon. Please tell me your opinion and suggestions as soon as possible. Thank you.
Post Fri May 19, 2017 3:46 am
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