How A Beautiful Family Got Out Of Debt.
This couple was in their 40’s, with 3 lovely children. They had been struggling through job changes while raising a family and mounting debt pressures.
Home Location: Burlington
Home value: $750,000.00
All they needed was the right advice so that they could structure their debts properly and start building their Financial House:
Balance Monthly Payment
Current Mortgage $ 214,476 $2,200
2nd Mortgage $ 148,275 $1,100
Amex $ 2,740 $ 150
PC Fin $ 1,059 $ 100
Burlington Taxes $ 5,870 $ 250
New Mortgage: $386,000 total monthly payment: $2,232.33
That’s a total monthly savings of $1,567.67
The clients have the option to pay the lower amount extending the length of the mortgage or they could accelerate the mortgage using all the pre-payment privileges so that they are completely out of debt sooner.
With the monthly savings they;
- Put the right Life Insurance in place.
- Accelerated the mortgage to pay it off years sooner
- Started an emergency fund.
- Started contributing to their savings plan again.
This very happy Family are now on track to build their Financial House and reach their Financial Goals… Plus they said we saved their Christmas!!
