Things had taken a turn for the worse for James Merrick, with looming debt threatening to force him into selling his home.
A baker employed by a large company, James had taken the opportunity to work overtime to help relieve his debts, but no matter how hard he worked, he could not seem to catch up with his bills.
“James couldn’t understand why he couldn’t keep pace. It was all mounting up and getting a bit too hard, but he called to see if we could help him refinance,” his finance broker explains.
“He had 13 outstanding debts, including three court judgements. His documented outgoings, before he paid living expenses, exceeded his net income by about $1500 per month.”
When James realised that he could lose his home or investment property due to his inability to pay his creditors, he decided to get serious about sorting out a way to get through his financial issues.
Together with his finance broker and solicitor, James was able to refinance his debts into a loan that worked for him. He is now able to handle repayments of all of his debts, didn’t lose any of his property and has enough money to live on.
“It definitely wasn’t guaranteed that we were going to be able to refinance him. But we found a lender that was happy to accept the loan, and now all is well.”
Refinancing involves reviewing your current mortgage, and potentially swapping your loan to another lender who can better meet your current needs, wants and circumstances…Read More
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There are 10 Reasons to Refinance. Save Money on Interest cost, Lowering your repayments and paying off your home faster, and if you want to access the equity of your home…Read More
Whether you’re after lower repayments or want to tap into the equity sitting in your home, refinancing can offer a world of benefits. Here are some things to be aware of so that you don’t find yourself hooked into a bad deal...Read More
A lot of small debts can balloon into one big headache. A simple way to get things under control could be to refinance your home loan to consolidate debt. So – is it right for you?…Read More
Once you’ve determined your needs and done your research, including speaking to a broker, beginning to refinance will be straightforward. Your broker will evaluate your circumstances and help you submit your application…Read More
Your full financial situation will need to be reviewed prior to acceptance of any offer or product.
MBM Mortgage Pty Ltd trading as Maverick Finance | ABN 28 149 301 084 | Credit Representative 403019 is authorised under Credit License 389328
This website provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.