Don't Be Waiting To Consolidate Your Debt!

The Canadian housing market could face a similar housing bust to the United States, particularly in more bubbly markets as Vancouver and Calgary, said Robert Shiller, the Yale University professor who predicted both the 1990s stock market boom and bust and the US housing slump.

Mr. Shiller, co-founder of the S&P Case/Shiller Home Price Index, said psychology is the primary driver of bubbles and it appears that Canada has been caught up with home buying fever just as the United States and other countries around the world.

More Canadians than ever are seeking financial relief through debt counseling agencies after maxing out the equity in their homes, or putting off things like home renovations in an effort to shore up sagging finances as they worry about the U.S. economic meltdown or face soaring costs for gasoline, food and other necessities.

At the same time, consumer confidence is being undermined as money gets tighter, the value of people's homes slips, more jobs are cut in the economy, volatile markets take a toll on investments, and potential home buyers become more cautious.

A tightening of mortgage rules and higher interest rates, sparked by the U.S. credit crisis, may cost more Canadian homeowners lose their homes and limit credit to only the best clients.

With many large U.S. lenders exiting Canada, the credit crunch is starting to impact Canadian homeowners because these U.S. lenders are not renewing mortgages.

If you have debt you’d like to refinance then I urge you to do it sooner rather than later because with falling home values it will soon be much harder to consolidate your debt.

Go to my website page http://www.joemalek.com/refinance.html and get started today!