Mortgage refinancing and debt consolidation

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How we reduced a family’s monthly payments by 3,200 shekels: a real story ​Many people think that if they took a mashkanta, those terms will stay with them for the next 30 years. And if, over time, a car loan, a renovation loan, and a growing overdraft are added to it, paying every month becomes simply unbearable. ​I handle complex cases and help people combine all their loans and refinance the mashkanta so breathing becomes easier. I’ll tell you using one family as an example. ​What they came to me with: ​The couple came in complete despair. Their salaries seemed fine, but there wasn’t even enough money for groceries, because everything was going to the banks. ​Here’s what it was BEFORE: ​Mashkanta (taken 5 years ago, the terms were long outdated): 6,200 ₪ per month. ​Regular loans (car loan + covering the old overdraft): 3,800 ₪ per month. ​In total they paid: 10,000 ₪ every month! ​They were working just to pay off debts. ​What did we do? We refinanced the mashkanta (mikhzur mashkanta) and combined all their debts. We negotiated good terms with the bank and moved all the expensive consumer loans into the new mashkanta (secured by their apartment). The interest on a mashkanta is always lower than on regular loans, so this is very advantageous. ​Negotiating something like this with the bank on your own is not always easy, especially if there is a constant overdraft on the account. But if you know how to submit the application properly, the bank is willing to cooperate. ​What happened AFTER: ​All the small and expensive loans were completely closed. ​The overdraft on the account was cleared. ​The family was left with just one payment on the new mashkanta. ​New payment: 6,800 ₪ per month. ​💡 Real savings: 3,200 shekels EVERY month! ​Just imagine: over a year, that’s almost 38,000 shekels that stay with the family. Now they can live calmly, pay for kids’ activities, and even save for a vacation, instead of feeding the banks ​If loans and borrowings eat up most of your salary, don’t wait until the situation gets out of control. There is a way out, even if it seems to you that your case is “too complicated” and the bank will refuse you