I am new to this forum. I am from Ontario, Canada. I have a lot of credit card debts and home loan. All my income is spent towards these payments. I am working on a solution for this. I am unable to manage it That brings me to this forum.
I was able to know there is debt consolidation mortgage, which can be used to pay off every bills and loan and combine it into a single loan. https://www.butlermortgage.ca/mortgages/refinance/debt-consolidation/ I am hearing this for the first time, so, I need help to better understand.
I have made a lot of payment faults for the existing loan. Will I be eligible for this mortgage? Will I get the loan for a longer duration?