353 – Should You Get a HELOC, 2nd Mortgage or Do a Consumer Proposal To Deal with Debt?

With the rapid rise in the real estate market, you may find yourself with significant equity in your home, yet you are also carrying high interest unsecured debt. On paper you have equity in your home, but you may still be “insolvent”, meaning you can’t pay your bills as they come due. So, what should you do? On today’s podcast, guest Ted Michalos explains how you can deal with debt as a homeowner through either a home equity line of credit, a second mortgage, or by filing a consumer proposal. Tune in for lots of practical advice! Helpful Links: Second Mortgage Home Equity Loan or Interest-Free Consumer Proposal? https://www.hoyes.com/blog/second-mortgage-or-interest-free-consumer-proposal/ Will a Second Mortgage Clean Up All Your Debts? https://www.hoyes.com/blog/will-a-second-mortgage-clean-up-all-your-debts/