Hello everyone,

I'm new to this forum. I'm facing the worst and the most challenging phase for the past few months. I lost my job due to the recession. My sister is spending too much money on weekend getaways and trips. Due to the huge expenses and job loss, I'm struggling to make monthly payments including debts of credit cards and mortgages.

I have found that debt consolidation is the practical solution to this problem. Consolidating debt can help us manage the budget and get out of debt faster. It would effectively bring all the debts together into one combined loan with a single monthly payment. The debt consolidation can save money by reducing the interest rate.

My credit score is directly impacted by the job loss. Does debt consolidation work in my case? Is there any eligibility criteria to get approved for debt consolidation mortgage in Ontario? Can someone help me clear these doubts?

Hello everyone,

I’m working as a Network Engineer in a multinational corporation for more than five years. I'm planning to start a new business venture along with my few trusted colleagues. Now, I'm forced to raise a huge fund urgently. I have inquired regarding various commercial loans. But, I think it’s not easy to secure one with an affordable interest rate.

So, I’m looking for a home equity mortgage. I own a house in Toronto nearby Wychwood Barns Park. I have heard that the difference between 80% of the home’s appraised value and the unpaid balance of the existing mortgage would be the credit limit. While browsing the internet, I came across a few mortgage lending companies in Toronto and nearby. What are the documents needed for securing a home equity mortgage? If you know something related to this, please let me know.