Mortgage Refinance London Ontario: House Rich, Cash Poor

It’s a common story in London: families own beautiful homes but feel squeezed every month. On paper, they’re doing well — but day‑to‑day, cash flow feels tight. That’s what being “house rich, cash poor” looks like, and it can be solved without selling the home you love.

Client‑style example: A family with strong equity wanted breathing room and a new kitchen. They refinanced, accessed $75,000 in equity, paid off high‑interest balances, and still lowered their monthly payments. The renovation brought joy; the payment relief brought calm.

When does this make sense?

• You have significant equity but limited monthly flexibility.

• You’re paying double‑digit interest on other debts.

• You want to invest in renovations or an income‑adding suite.

• You want to regroup after a few tight years and rebuild savings.

Smart safeguards:

• Keep a clear budget so the new cash flow doesn’t evaporate.

• Consider setting a prepayment schedule to re‑accelerate after six months.

• If you access equity for investing or a rental suite, keep a paper trail and talk to your tax professional about interest deductibility.

Done thoughtfully, a refinance can turn locked‑up equity into a plan you can feel every single month.

Related reading:

- When Did Life Get So Expensive?: https://jasmortgages.ca/blogs/b/new-blog-post-1575

- What Would You Do With $1,000 A Month?: https://jasmortgages.ca/blogs/b/new-blog-post-9309

Ready to see your numbers? Book a time here: https://jasmortgages.ca/book-appointment
Or call me at 226-688-6680 / email me at [email protected]