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600 Matheson Blvd W Unit 5, Mississauga, ON L5R 4C1
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Dove Mortgages

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Call Us: (647) 417-4760

Simplifying Finances for a Family in Markham

In 2019, Dove Mortgages helped Robert and Samantha acquire their family home in lively Markham, a place that provided not only a residence but also prospects for their career advancement and family life.

Dove Mortgages’ support successfully helped Robert and Samantha navigate financial challenges, achieving not only immediate debt relief but also a more secure financial foundation.

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The Clients: Robert and Samantha

  • Clients: Robert and Samantha, clients of Dove Mortgages since 2019
  • Marital Status: Married with a 13-year-old boy
  • Income: Dual income household with a combined income of nearly $110,000
  • Occupation: Robert – Government Employee, Samantha – Marketing Professional
  • City: Markham, ON
  • Objective: Pay down approximately $120,000 of high-interest bad debts
  • Results: Debt consolidation, leading to lower monthly repayments, resulting in savings of approximately $450 per month

The Challenge

Robert and Samantha’s monthly financial stability is impacted by the challenge of juggling various loans and credit debts. These debts stemming from a mix of personal and unexpected medical payments had reached a point where managing multiple payments became overwhelming. 

Objectives

  • Reduce ‘bad debts’
  • Streamline loan repayments for greater manageability

Results

  • Merged debts into one loan for simplicity, eliminating the need for multiple payments
  • Decreased monthly repayments, leading to savings of about $450
  • Enhanced financial security and alleviated stress
  • Established a structured strategy to build an emergency fund and boost savings for their children’s education

The Dove Solution

Dove Mortgages created a thorough financial analysis and a tailored debt consolidation plan. Through utilizing the equity in their home and skillfully negotiating for reduced interest rates, Dove Mortgages merged their debts into a single, easier-to-handle loan. This strategic decision streamlined their financial situation and decreased their total monthly payments.

dove mortgages debt consolidation
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