Pay off your debt faster without changing your lifestyle --is it just a myth?

Becoming debt free has just become a little bit easier.

Alberta Mortgage is proud to now be able to offer a revolutionary debt elimination system for Albertans -home owning or not, that will help people eliminate their debt in as little as one third the scheduled time it would take to be debt free. If you have a mortgage, credit cards, student and vehicle loans, or any other form of personal debt, the mortgage associates at Alberta Mortgage can show you how you could possibly see a dramatic reduction in the amount of interest you pay on your debt without making any significant changes to your lifestyle.

To learn more about this product, and see how much you could save, contact one of the qualified mortgage associates at Alberta Mortgage at 780-479-2222, or visit www.albertamortgagecentre.com.

How do decreasing property values affect my mortgage?

Property values all over Alberta have been steadily dropping since late 2007, and this change has had a dramatic impact on Albertan homeowners. In particular, with property values in some cases dropping by as much at 17%, homeowners who purchased homes with 0-5% down now owe more on their home than it is worth. As a result, they are no longer able to refinance their existing mortgage in full --meaning that they cannot take advantage of the lower fixed mortgage interest rates now available without first making a substantial prepayment on their mortgage.

To learn more about the affects of a declining market on your mortgage, call one of the qualified edmonton mortgage brokers at Alberta Mortgage at 780-479-2222, or visit www.albertamortgagecentre.com today.

If my mortgage currently carries a large prepayment penalty, is it worth refinancing?

Fixed rate mortgage interest rates in Canada are currently at historical lows, meaning mortgage money is effectively cheaper than it had been at most any point in Canadian history. While the existing economic climate is not being welcomed by most Canadians --homeowners or not, the accompanying decreases in mortgage interest rates are certainly a welcome reprieve. Today, 3 year, fixed rate mortgages are available well below 4%, meaning that for any home owner who locked into a fixed rate mortgage at anytime in the past 4 years can potentially save thousands in interest and lower monthly payments over the course of their mortgage term.

Even after paying penalties, the benefits of replacing an existing mortgage with a new fixed rate mortgage can often far outweigh any associated costs. In particular, the greatest two benefits of refinancing to a lower mortgage interest rate are as follows;

A decrease in monthly payments, and therefore more discretionary income; and second, lowering the amount of interest that makes up each payment --meaning that at the end of your term, you will owe less on your home than you would with a higher rate mortgage!

To find out just how much you could possibly save, call one of the qualified Alberta mortgage professionals at Alberta Mortgage at 780-479-2222, Apply Online, or visit www.albertamortgagecentre.com.