411 –  High Home Equity, But Can't Refinance - How to Deal with Debt?

411 – High Home Equity, But Can't Refinance - How to Deal with Debt?

Author: Doug Hoyes July 16, 2022 Duration: 33:34

What options do homeowners have when they've got a lot of home equity and a lot of unsecured debt, but the bank won't let them refinance by borrowing against their home? On today's podcast, Ted Michalos and Doug Hoyes explain why homeowners often carry so much more debt than non-homeowners, how to deal with your unsecured debts whether refinancing is an option or not, and how an insolvency filing can affect your home. Given today's economic situation, this may sadly be a reality for many homeowners in the months and years to come. Tune in for lots of practical strategies and advice!

 

Helpful Links:

 

Second Mortgage or Interest-Free Consumer Proposal: https://www.hoyes.com/blog/second-mortgage-or-interest-free-consumer-proposal/

Hoyes Michalos Joe Debtor Bankruptcy Study  https://www.hoyes.com/press/joe-debtor/            

Hoyes Michalos Homeowners Bankruptcy Index: https://www.hoyes.com/press/homeowner-bankruptcy-index/


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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607 – Credit Score vs Cash Flow: What Actually Matters in a Crisis? [not-audio_url] [/not-audio_url]

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Duration: 30:23
Owing money to the CRA can feel urgent, and taking out a loan might seem like the fastest way to fix it. But in many cases, it can make your situation worse. Doug Hoyes and Ted Michalos break down when borrowing to pay o…