Evaluate the options that are available to reduce personal debt, increase cash flow and identify potential savings.

The holiday season is just weeks away and the end of the year is approaching which is a great time to assess your financial situation, consolidate any debt and review your mortgage to avoid unnecessary financial stress in 2019.

It is important to regularly evaluate the options that are available to reduce personal debt and increase cash flow and identify potential savings.

Mortgage Alliance Professionals have access to a variety of solutions that can eliminate debts such as credit cards and other loans without affecting your existing mortgage. It may also be possible to roll your debts into your existing mortgage and reduce your monthly payments.

The Bank of Canada recently raised its prime rate to 1.75% stating that they felt good about the economy now that we have a new trade agreement in place with the United States and Mexico. This increase should have an effect on variable rate mortgages as well as consumer debts, even more reason to analyze debts including mortgages to find savings and reduce monthly payments.