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4 Mar

Get out of debt using home equity: When breaking a mortgage makes sense

General

Posted by: Angela Calla

Canadians are more in debt than ever. The average Canadian owes roughly $1.70 for every dollar of earned income per year after taxes, two in five Canadians don’t think they’ll ever get out of debt, and more than a third of Canadians have no retirement savings, according to a 2019 survey.

But building home equity and consolidating debt into one manageable monthly payment can help consumers climb out of the hole. In partnership with the Angela Calla Mortgage Team, we take a closer look at when breaking a mortgage to get out of debt makes sense.

Read more here:  Global News

Angela Calla is a 16 year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.