Money Matters

Make Your Assets Work For You

Make Your Assets Work For You

By Kam Brar, Auxilium Mortgage Corporation

“I’ve helped many clients achieve goals
that they thought were impossible.”

—Kam Brar

When there is more month left than pay cheque you have three choices:

  • Make more money
  • Cut costs
  • Restructure your debts

Let’s face it—it’s kind of hard to walk into your boss’s office and ask for a 50% increase in your salary, just because you need it.

If you’re already living with just the basics, there’s only one way forward.

The economy currently makes it easy to restructure debt if you own a house. It may seem counter-intuitive but increasing the size of your mortgage to pay out other debts can actually improve your monthly cash flow and save you money in the long run. Mortgage interest rates are still low and far more favourable than those of other debt instruments. This makes it easy to roll your shortterm debt into long-term debt and save both time and money.

The same principle holds if you’re retired and want to use the equity you’ve built over the years to increase your cash flow. In this situation, you would have the added possibility of a Reverse Mortgage on your home, which will reduce or even eliminate your monthly payments.

The Auxilium Team is here to work with you and ensure that your home is an asset that is helping you. Our experienced mortgage brokers take the time to do the math for your potential home ownership scenarios and then explain it to you in clear, easy to understand language.

Call or visit us today for more information. Our GoWestShore Portal listing includes all of our contact information.

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