Car Payments A Little Too High

For home owners with variable rate mortgages, the increase to the prime lending rate may be causing some financial hardship right now. Mortgage payments combined with car payments or loans for a recently purchased boat or RV that got you through the pandemic and lock downs may be adding up to a lot!

I may have some good news for you, while mortgage rates are not likely to take a nose dive in the immediate future, we could help you reorganize some vehicle loans. TMG is currently working with a refinance company. If you want to find out what could be done, send me an email with the year, make and mode of your vehicle, the approximate remaining balance, the current payment, and what your goal is. The latter might be to reduce the payment or you may want to borrow against the vehicle to pay off some other debt.

This "refinance" option would only apply to newer vehicle. Having said that, it doesn't hurt to ask in case we can help with an older vehicle.

We have also used this program to lower a person's car payment so they can qualify to buy a home by qualifying for a larger mortgage with the lower vehicle payment.