An alternative for home refinancing?

Discussion of other types of "goodies" such as deals on phone cards, cellular phone deals, coupons and rebates on computer merchandise, etc.
Post Reply
emmanathan
Good Friend of CCG
Posts: 2
Joined: Tue Oct 30, 2018 3:27 am

An alternative for home refinancing?

Post by emmanathan » Tue Oct 30, 2018 4:45 am

I'm new to this forum and I'd appreciate some feedback from experienced people. My dad has accumulated a significant amount of debt for my sister's marriage and to buy a car. But it has become difficult to manage now because he relived from his job due to some unexpected medical issues. He was forced to spend a good amount of saving on that. Now we're running on an extremely tight budget. One of my friends told me that we should be thinking of refinancing, and I consulted an agency who can help us for home refinance in Ontario. But when it comes to our home, its something emotional, I have been living in my home for more than 7 years and I love to stay here. So for me, home refinancing will be the last choice. Guys, is there any alternative way to overcome our current financial issue?
Please share your suggestions and comments.
Thank you in advance.

tomson
Good Friend of CCG
Posts: 1
Joined: Tue Oct 30, 2018 4:55 am

Re: An alternative for home refinancing?

Post by tomson » Tue Oct 30, 2018 5:00 am

so sorry to hear about your current situation. There are too many alternative ways for this, You can borrow from your insurance policy if you got any, else you can borrow money from a co-signer for the loan. Your father might have a retirement account. You can even borrow from that. But personally its better to go for home refinancing rather than these alternatives. Have a nice day! :)

emmanathan
Good Friend of CCG
Posts: 2
Joined: Tue Oct 30, 2018 3:27 am

Re: An alternative for home refinancing?

Post by emmanathan » Tue Oct 30, 2018 6:35 am

Thanks, Tomson, for your valuable advice. I will check with my dad and will take a decision soon. :)

Post Reply