Pay Out CRA Taxes with Your Home Equity

Do you owe CRA for business or personal income taxes? 

Did you know that most traditional banks will not lend to a consumer with CRA taxes owing!

If you own your property, you may have options to borrow against the available equity in your home to use to pay off your taxes owing. CRA charges late interest on balances owing and the repayment structure they might provide you with, could be unaffordable. By using your home equity to pay off this debt you would be freeing up monthly cash flow by rolling the debt into your mortgage payment.

At MMG, we do have options available for this situation and the request is becoming more and more popular from homeowners.

The right solution will depend on each client’s individual circumstances, so it is important that you reach out to us or your current mortgage broker today to see if this is an option for you!