Just When these homeowners thought they had looked at all of their options, refinancing helped them save and get ahead.
Last April we received a referral from an accountant. They had just finished preparing taxes for a self-employed couple that were enjoying a banner year for their business. However they found out that their clients would have a fairly large tax amount owing once they filed their taxes.
The clients had done some investing and did not have cash on hand to pay those taxes when they came due. In this case there would have been hefty penalties from CRA, but fortunately that is when the accountant thought to refer the clients to us.
We were able to refinance their home and get the cash out that would be required to pay for the tax bill all before their taxes were even due! We were also able to consolidate some other debts for additional savings and put them in a better product for self-employed individuals.
In the end we were able to save the clients thousands of dollars in late fees and even save them more money on the interest rate on their mortgage. We love to create solutions that result in a win for all parties involved. If this sounds like you or someone you know, please refer them to Innovative Mortgage Solutions so we can help them out as well.