Second Mortgage in Toronto -
Benefits and Considerations
Debt consolidation
Basically, the second mortgage is secured based on the
equity that abounds in the home but however you can still
use it for any purpose. This feature gives homeowners the
amazing opportunity to consolidate several debts which
might include high interest credit card debt. With debt
consolidation, you can also increase your monthly
savings. This is made possible because homeowners now
have to repay high interest debt at a lower interest rate.
Great tax benefits
Getting a second mortgage comes with great tax benefits
as a perk. As stated earlier, the second