Getting Canadians The Cash They Need
A divorce can be difficult. There are lawyers’ fees, people poking around in your personal business, your assets are divided, and there may even be children involved. However, not having the money to pay for it all makes things even harder.
The Money Depot can help you pay for a divorce. You have options, and you have people in your corner. Let us help make a difficult time a little easier on you.
- Get the money needed to pay for a divorce
- Don’t let money problems weigh you down any further
- We say “Yes’ more often
- Get an answer in as little as one business day
You Are More than Your Credit Score
How to Use Your Home to Pay for Your Divorce
In order to pay for your divorce, you have options including taking out a HELOC . You can take out up to 65% of your home’s value, as long as you have 20% home equity. Moreover, you take out the money needed to pay for your divorce and not a penny more. You will repay a variable rate plus a premium on the money you use, but there are no other fees involved.
You can also refinance your mortgage. Your payment schedule will be revised and your mortgage will be recalculated. You can gain up to 80% of your home’s value, and will receive a lump sum payment.
Another option is take out a second mortgage. This option is best for those who have bad credit or need to consolidate debt. You can borrow up to 90% of your home’s value and you can have less than 20% equity.
What Is Home Equity and How Can It Help You Pay for Your Divorce?
The Money Depot works with dozens of lenders across Canada to get them competing for your business. These lenders will typically offer one of two products to help you cover the costs of a divorce and move on with your life:
If you own your home: then leveraging the equity in your home makes the most sense. This can be done through a HELOC (a Home Equity Line of Credit), or through refinancing your home, or even through a second mortgage, although it is unlikely that would the ideal solution. To find out more of these products you can visit our page on refinancing your home.
If you don’t own your home: then it is simply a case of us working hard to find you a lender that will provide you with a loan at a low interest rate. Our team of advisors will work with you to build a case for why a lender should extend this loan to you. To find out more about personal loans, you visit our page on personal loans.
Why Use The Money Depot?
The Money Depot has been Canada’s go-to source for loans since 2009 and we have been in the business of lending money to Canadians since 1999. We work with dozens lenders across the country to help take the stress out of refinancing, and getting access to affordable loans by allowing consumers to get multiple offers from several lenders in a matter of minutes. We get Lenders competing for your business. If you’re tired of hearing no from the banks then get in touch with us! We say “Yes” more often
At The Money Depot, we care about our clients and treat you like individuals. We realize that everyone’s financial circumstances are unique, and we get to know each and every one of them. You are not just a name on a piece of paper, or a number at a bank; you are a person.
Although our loans are short-term solutions to your financial needs, we will work with you to ensure you have a long-term plan. With a loan from The Money Depot, you will be able to address your current issues while you work to improve you credit score, increase your income, and find a more permanent solution. We know what you are going through and are here to help you get on with your life. No need to be embarrassed or feel awkward; you are not the only one that has ever been in this situation. Kick the elephant to the curb and call us for a consultation today.