The weight of debt you can't outrun
Debt can feel like a never-ending cycle—one that sneaks up on you over time until the monthly payments start to feel overwhelming. That was the reality for one of my recent clients. Like many Canadians, they'd accumulated high-interest debt over the years, especially after the financial strain of COVID. Despite making regular payments, they felt stuck, with no real path to relief.
Why the usual doors were closed
When they first reached out, their credit scores had taken a hit from high credit utilization—basically, they were using too much of their available credit, which made lenders nervous. That meant they didn't qualify for a typical refinance at the big banks. They needed a solution that would consolidate their debts into a manageable monthly payment while setting them up for long-term success.
This is where working with a mortgage broker who has access to 50+ lenders makes all the difference. While traditional lenders might have turned them away, I was able to structure a custom refinance strategy tailored to their specific financial situation.
The plan: roll it all in, lower the payment, buy time
Through strategic lender selection and mortgage restructuring, we were able to roll their high-interest debt into their new mortgage, lower their total monthly payments by $1,350, reduce financial stress and improve their cash flow, lock in a 2-year term to rebuild their credit score, and position them for a future move to a prime lender with even better rates.
By restructuring their debt, their mortgage payment is actually lower now than it was before the refinance, even with the additional debts included. This shift didn't just free up cash—it gave them breathing room and the ability to start moving forward financially instead of just staying afloat.
What it felt like from their side
Here's what my clients had to say about their refinancing experience:
"Matt is a phenomenal mortgage broker and I cannot imagine working with anyone else. We just closed on refinancing and Matt made the stress of this process feel like a breeze. He is genuinely kind, positive, and doesn't make you feel embarrassed for not knowing the ins and outs of mortgages and financing. Talking about your finances and debt is really vulnerable and Matt eased our worries instantly. He found several lenders with great rates and he broke down our options in a way that was easy to navigate..."
Having open and judgment-free conversations about money is key to finding solutions. No one should feel ashamed about their financial situation—what matters is taking the next step toward a better one.
Graduating to better rates in two years
One of the most powerful aspects of this refinance strategy is that it isn't just a short-term fix—it's a stepping stone toward long-term financial stability. By locking in a 2-year term, my clients now have time to rebuild their credit through lower utilization and positive repayment history. When their term is up, they'll be in a strong position to move to a prime lender with even lower rates and more savings.
Could this be you?
If you're carrying high-interest debt and feeling trapped by payments, there are options. A refinance strategy like this can help you consolidate your debts into a single, lower payment, free up cash flow to reduce financial stress, improve your credit score over time, and set yourself up for better rates and financial flexibility in the future.
Let's chat about how a refinance could work for you. Contact me or book a free consultation. A fresh financial start might be closer than you think.
