Private Mortgages: A Solution for Paying Off High-Interest Credit Card Debt

Private Mortgages: A Solution for Paying Off High-Interest Credit Card Debt

In Canada, high-interest credit card debt has become a growing issue, affecting hundreds of thousands of households and posing a threat to their financial security. Alternative financing, such as private or second mortgages, provides one of the few avenues for consolidating and paying off credit card balances when traditional banks cannot offer adequate assistance to individuals with substantial debt. Through leveraging their home equity, privat…