An All In One financial product is a way to combine your debt (mortgage, credit cards, and loans) and your assets (income, both daily chequing and savings accounts) into a very functional account.  With an All In One Account, your outstanding debt will be reduced by applying short term savings and chequing account balances to the entire debt, thus reducing the account’s total interest cost quickly over time.

As your income is deposited into the account, the outstanding amount of your credit balance is immediately reduced.  It is inevitable that you will need funds to pay day to day expenses, and as a result the loan balance will increase again.  Until this time the interest charged is limited to the outstanding loan balance.

Benefits to an All In One produce

Lump sum Pre-Payments on your mortgage are only limited by your available funds.  Additional payments toward the debt balance are immediately credited and once again reduce the loan.  Traditional mortgage products have limits for prepayments and penalize for over payments.

Emergency funds that normally would be in a savings account product can be used to decrease the debt balance, and reduce interest costs.  Rainy day money is still accessible, but rather than earning minimal interest in a bank account, these funds are hard at work reducing both your interest costs, and your overall debt balance.

ACCOUNTABILITY and Financial Responsible is a must with an All In One Product.  If you carry a balance on your credit cards, or use overdraft for anything more than emergencies, this is not a product for you.  The ultimate goal of and All In One Product is to save you interest, and reduce your debt faster than a traditional mortgage product.

For more information about the best Mortgage / Property Debt Management Product to suit your needs contact Terri Bannan M10001688  Mortgages@MadamConnect.com Brantford - 519 756 4156 Oakville 289 813 1074.  www.TerriBannan.ca RMA Mortgages-The Loewen Group Lic #10464