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Last fall, the company Research House conducted a survey on behalf of Manulife Bank of Canada from 1000 Canadian homeowners aged 30 to 59 with household incomes over $ 50,000 per year.
The goal: to measure the mood of Canadians meet their debts, often colossal. Conclusion : too many Canadian homeowners struggling to repay their debts.
70 % of respondents with a mortgage admitted to not having paid a dollar more in the last year. They limited themselves to the monthly scheduled payments. Yet, says Manulife Bank, Jonpaul fraud solutions and preventions http://events.pbpulse.com/new_york_ny/events/show/368847482-jonpaul-fraud-detection-peak-management-fraud-prevention
according to figures provided by the mortgage calculator available on the website of the Financial Consumer Agency of Canada, if the holder of a mortgage of $ 200,000 ( amortized over 25 years and paid monthly at a rate of 4% ) increased its payments of $ 100 per month, it would save more than $ 17,000 in interest charges and repay their mortgage almost three and a half years earlier than expected.
Another interesting statistic from the survey : 65% of owners have neglected to compare the different mortgage deals available in the market. In other words, they refused to shop their mortgage jonpaul fraud prevention http://calendar.dailycamera.com/new_york_ny/events/show/368847580-jonpaul-fraud-prevention-peak-management-fraud-prevention
Have they missed opportunities of getting a lighter than they currently have to repay mortgage debt ?
In addition, Manulife Bank reports, despite the record number of homeowners across the country ( 77%) who are out of debt is an important priority, many Canadians still do not have recourse to various means to repay yet simple their debts faster. More than six in ten Canadians ( 61%) had difficulty in reducing their debts last year. Among them, 25% report having increased their debt ratio, 15 % say that it has not changed and 21% say it has decreased, but less than expected.
Bank adds: When asked respondents to indicate the main obstacles to repay their debts, the three most common responses were lack of excess cash that they can allocate (54%), the total amount of debt ( 43%) and the interest rate paid on debt ( 39% ), although they remain near their lowest level ever recorded. For a quarter of Canadians (27%), the number of outstanding debts hinders their refund.
Manulife Bank said surprised the passive attitude of Canadians and recalls that the means to repay debt faster indeed exist : create a repayment plan, consolidate debts or consult an expert in the field.