How to Take Care of CRA Debt?
If you owe CRA a significant amount of money due to a re-assessment & have no way to pay it, you may have options. Any schedule 1 bank that you walk in to won’t allow you to refinance your home to pay CRA debt, but I deal with a schedule 1 bank that WILL allow you to do this (as long as you have sufficient equity, of course).
If you have good credit you could be eligible to access up to $150,000 worth of equity (possibly more on a case by case scenario) without being penalized by unduly higher rates. And if you do have credit issues you could still be eligible to do a refinance with rates appropriate to your credit score.
If income verification is your challenge due to being self-employed, there is also a way you could be eligible.
To see if you qualify, or for more information, contact me today at 1.877.336.3545