Recently, the finances of Canadian households have been disturbed by several pressures on their portfolios, including rising inflation, rising gas prices and rising interest rates. As a result, the debt ratio of families has also increased.
With the current housing fever, it can be tempting to refinance your home or take out a home equity line of credit to consolidate your debts. But a group of financial experts Raymond Chabot warns us that this is not always the best solution.
We discuss this with Sophie Désautels, first senior director of financial recovery (consumer), in the recovery and insolvency group of Raymond Chabot Inc, a subsidiary of Raymond Chabot Grant Thornton.
What are the main risks surrounding refinancing a home or taking out a home equity line of credit to consolidate debt? We asked him.
Source: Radio-Canada
