Improve monthly cash flow by wrapping debts into the mortgage. If you own a house and have credit card and lines of credit debts that you’re not paying off each month, the best way to improve your monthly cash flow is to wrap the debts into the mortgage. Aside from credit cards and lines of credit having higher rates than your mortgage would, how the interest is calculated impacts your ability to pay off the debts. For example, the interest on credit cards is calculated daily vs. the interest is only calculated semi-annually on mortgages. Although it seems like you’re paying a pile of interest on your mortgage… if you compare what it would be if you have a line of credit in the same amount then you’re actually paying less off.

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© Sandra Lastovic is the Principal Broker with the Mortgage Centre in Guelph. With over 15 years’ experience and holds a M.Sc. from the University of Guelph. She was recently ranked at the top 75 agents in Canada by The Canadian Mortgage Professionals annual survey and 2017 Most Influential Women in the Mortgage Industry. She can be reached at 519-763-3900 x1001 or™