This is a Success Story of a A Home Owner’s Debt Paid off with a Home Equity Loan. Here is how I was able to help one of my clients who we will refer to as “Anika”; A smart woman whose life situation suddenly changed and she ended up with spiraling Debt.
When she came to my office, Anika’s hands were shaking. I had to figure out: what happened?
Anika had a great job at the Doctor’s office, a degree in business administration, and she owned her own home. Then something changed.
Now she had $39,000 dollars of credit card Debt. Missed mortgage payment. Overdrawn on her bank account, and collections were calling her house daily.
She was so stressed she couldn’t even go to work. How did this happen?
It started with a breakup. Being alone for the first time in three years, Anika formed a simple bad habit. She’d go to the mall, and when she saw something interesting… she bought it.
A purse. A pair of shoes. The new IPhone X. Innocent enough. But the problem was, the things she bought: she didn’t need. And one day Anika looked at her credit card bill and you won’t believe what she saw.
$7,000 on a $5,000 credit card. How was that possible?
Anika had never been in Debt before, and the stress was overwhelming. To ease it she bought more. Amazon became her stress relief.
Soon Anika realized she was in over her head and needed a solution. Some money. All she needed was some cash to pay off her Debt so she could think clearly again. The problem?
Her bank wouldn’t even consider giving her a loan. It was calling her because her account was overdrawn!
“If I worked 24/7 I wouldn’t be able to pay off my Debt,” she said. Fortunately the bank is only one lender.
The brokerage system in Canada is a network of hundreds of lenders who deal with hundreds of situations.
I asked Anika a few questions and within seconds of hearing the answers from Anika, I knew she’d be approved for a Home Equity Loan. When I told Anika the news, a smile broke over her face.
I was able to help her get a Home Equity Loan by leveraging the Equity in her Home and got her Approved within a few short hours and she was able to receive $67,000 in cash within a few days.
Wasting no time Ankia, immediately paid off her high interest credit card debt. Then she paid off her mortgage for the rest of the year. And finally she had $10,000 in her chequing account and $5,000 on hand so she could breathe with relief.
Now, a couple months later Anika has moved on from her spiraling Debt and her credit score is recovering and she’s back to work at the doctor’s office and things are looking good for Anika.
It’s seeing this change in people like Anika that makes me love my job. For me, Helping Home Owners overcome Debt and difficult financial situations is simple. By asking a few simple questions, I can show Home Owners how they can benefit from obtaining a Home Equity Loan to fit their particular financial situation and needs.
If you want more information on how a Home Equity Loan can help you, then don’t hesitate to give me a call Rumy Gill at (647) 464-3939 I can show you the benefits obtaining a Home Equity Loan just like Anika did.
Tags: Home Equity Loan