Drowning in Debt But Still Paying Your Mortgage On Time?
- getmortgaged
- Dec 16
- 2 min read
🚨 The Debt Trap No One Talks About
Here’s something I see every week: A homeowner with great credit, making all their mortgage payments… but drowning in credit card debt, car loans, lines of credit, and even tax debt.
The kicker?
They think they’re doing okay, because the mortgage is getting paid.
But what’s really happening is slow-motion financial erosion. The balance sheet is bleeding and the stress is compounding quietly in the background.
📉 Why "Making the Minimum" is a Financial Mirage
Here’s how the math works out for many of the families I help:
Credit Cards: $25,000 @ 19.99%
Car Loan: $18,000 @ 8.5%
Line of Credit: $15,000 @ 9.99%
That’s over $58K in non-mortgage debt with an average monthly payment of $1,400+.
Most of that payment isn’t touching the principal — it’s just feeding interest.
And all of this is happening while the home has $250K+ in untapped equity sitting dormant.
🔁 How Mortgage Restructuring Flips the Script
Smart homeowners are starting to say: "If I’ve got all this equity, why am I letting credit card companies rob me blind?"
Through a refinance, HELOC, or Manulife One-style re-advanceable mortgage, we can:
Pay off all that high-interest debt
Cut monthly obligations in half (or more)
Improve cashflow instantly
Protect your credit score (or start rebuilding it)
And this isn’t some shady consolidation loan. This is a strategy grounded in math, equity, and long-term planning.
🤝 Who This is For
This isn’t for people who’ve already given up. This is for Ontario homeowners who are:
In their 40s or 50s
Married, working, raising a family
Feeling the weight of rising costs and lifestyle creep
Still holding it together, but stretched too thin
These are the folks who can do something about it… if they act early enough.
📞 What to Do Next
Book a 15-minute call. That’s it.
No pressure. No commitment. Just a straight-up review of your current numbers and a strategy session to see what your options look like.
You’re not failing. The system is rigged to keep you in debt, even when you're doing everything “right.”
It’s time to stop playing defense. Let’s restructure, reset, and rebuild.
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