ft-~'-'The Canadian Champ on, December 26 & 31, 2M)8 Getting your house in order before the holidays couid save you thousands John Cavan, Mortgage Agent Ask your local mortgage planner lt's hard t0 believe that we're entering that busy season! Most retailers have been reminding us that holicfay season preparations are already underway For many though, pesky debt responsibilities can dampen their planning and holiday enjoyment. Others may not worry about their debts, thinking they can always get their financial house n order after the holidays. But if you're concerned about your debt obligations, consider adding one more task 60 your pre-holiday season to-do list! See if you can use your home equity 60 consol- idate your high-interest debt in 60 a new or existing mortgage. You'll lower your pay- ments, save on interest and can power down your debt faster. In almost every case, you're better off holding your debt in a mortgage than n any other lending vehi- cIe. Why? Because Canadian home owners are benefiting from mortgage rates that are still among the lowest in decades. Worried about penalties 60 break your current mortgage? Have your situation assessed; there's a good chance that the sav- ings each month will far out weigh any penalties. Consider a situation where your current mortgage is $155,000 at 6% and you have a monthly payment of $992. n addition to your mortgage you have a car loan of $20,000 and credit cards maxed out at $20,000. You are paying $ 1,200 a month on the car loan and credit cards for a total monthly payment of $2,192. You're feeling financially stressed with that monthly pay- ment so you meet with a qualified mort- gage planner to assess your situation. Your mortgage planner presents a sce- nario in which you get a new mortgage for $198.000 to cover the original $155,000, the $40,000 in credit cards and car loan, and $3,000 to break your mortgage. Your new mortgage is also, at 6% but you now have a much lower overail monthly pay- ment of $1,267. With this new scenario, monthly pay- ments are $925 leas each month; a great improvement in cash flow! And if you put $400 of that cash flow into your monthly mortgage payment, you reduee your amor- tization from 25 years to 15. We're a fortu- nate generation of homeowners. We can benefit from low mortgage rates to enjoy our lives and our homes - and to, manage our debt wisely Home equity debt consolidation is a golden opportunity, especially if you're concerned tec holiday season will further add to your debt burden. Aside from the debt stress relief and interest savings, restruc- turing your debt will also gîve you a fresh start at responsible financial housekeeping. Create a plan for this year's holiday spending; set a budget and work witbin that aniount. If this debt con- solidation exercise gives you new financial com- r fort, you'll want to main- tain that ease by living withsn your means dursng and after the holidays. Homeowners are rec- ognszing that they need 60 get smart about debt. Canadians pay a shocking The 'i dream ear amount of money on Lima; Associale Pl their high-interest debt, Rebelo; Administra whether it's credit cards, unsecured loans, or tax bills. It ail adds up. But if you have equity in your home,there's no good reason to be carrying high - inter- est debt. Independent mortgage planners - who have access to more than 50 different lenders, including most of the major banks - have become specialists in helping Canadians restructure debt. In addition to offening access to a broad range of mortgage options, these experienced planners pro- vide credit advice and debt management tips that can help save thousands of dollars. am" from L-R: John Cavan; Mortgage PIanner Kim lIanner, Delfina Arruda; Associate Planner and Maria alive Assistant. It's a great place to start. A mortgage pIan- Iner can help you sort out your debt s0 you can plan your ideal and well-budgeted hol- iday season! John Cavan is an Approved Mortgage Planner with Mortgage Architects. Mortgage questions and concerns can be directed tojohn Cavans office, located at 14 Martin St., Milton. John can be reached by phone: 905-878-7213 or by email: john.cavan@mtgarc.ca. John Cavans website is wwwstressfreemnortgage.ca. Contact John today about your stressfree mort- gage opportunities. SHARPE ~ D Sales Representatie 3 90 0 L R EL T I 95-58-221 5 WOODSPRING, MOUNTSBERG n j Tot Fee: 8*120Ft Lot!!A/mot 1/3 Acre. 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I~1 Archtec 14 Martin St., John l #107 Milton, ON CMI, AP 878-7213 fS fie How to personalize Iast- minute Christmas gifts (NC)-You try 60 plan early each year by preparing a well thought out Christmas list of people 60 buy gifts for. Yet, without fail, there is always one or two gifts you need 60 get at the last minute. Your challenge becomes finding a gift that doesnt look like an after- thought. Here are few ways 60 person- alize those las-minute gifts and make tem special. Get it engraved. Even a generic gift like a pen or key chain can seem personal if you get the recipients name or ini- tiaIs engraved on it. Most stores can do it while you wait. Commemorate a shared event. We ail have photos of fun occasions we ve shared with loved ones. Grab one of those photos and put it in a fabulous frame. Wrap it with fancy paper and bows. Include a Christmas letter that details why you thought shaning that day with that person was s0 special. Click on that Web link. If the stores are closing and the thought of donning your winter boots and heavy coat even one more time te, make a mad dash 60 the store ns unbearable, why not stay in the comforts of your own home and visit websites like www.ccfcanada.ca 60 pur- chase a meaningful gift. With a wide array of life-sustaining gifts starting at only $20 like a food hamper, farm tools or veg- etable garden seeds, you can give a gift for a family sn-need in the developing world. Your in tribute gift will be sent inen name of the person you didnt get a chance 60 buy for and an electronic or printed card with a special message will be sent 60 this person; making them feel special and honoured. Give a favourite snack: It may seem like a small thing, but when you need a last minute Christmas gils that says "I know you', try t0 remember what that person likes 60 snack on. What people eat and enjoy is very personal. Giving someone their favourite snack food like lavoured popcorn, home baked cookies or crunchy pickles shows tat you pay attention 60 tem and lends an air of fannil- iarity .- News Canada 1 à