Ever since the economic halt took place due to Covid-19, many people have been considering refinancing their mortgage. Before you rush into any decision, there a few things you should consider. First and foremost, people normally refinance their mortgages because they want to switch to...
Our last post was about consumer proposals as an option to avoid bankruptcy. We all work really hard to avoid going bankrupt, but, in some instances, it might be the only possible way to deal with debt. Just like with anything else, the most important...
We’ve spoken about this topic many times on our videos and podcasts. As we always say, it is extremely important to stay informed about all the topics concerning mortgages. A consumer proposal is a legally binding debt settlement agreement, filed with a Licensed Insolvency Trustee, to...
If you find yourself having to pay hundreds, or even thousands, of dollars per month for interest payments on credit, you may want to consider debt consolidation. It may be the time to contact a mortgage broker to help you with this situation. You may be...
Many of our blog posts have addressed closing costs when it comes to the home buying process. We’ve also mentioned the Purchase Plus Improvement program and how homeowners can benefit from it. However, there is another group of costs homeowners sometimes underestimate: home improvements. According...
In the world of real estate, it is very common to hear the term prime rate. Many people are confused by this term. Prime rate refers to the lowest commercial interest rate charged by a bank at a particular time and it is used as...
Is there a difference between refinancing your mortgage and home equity? Yes, there is. In fact, you have two options: refinancing the first mortgage that you have or taking out a home equity loan. Both of these can provide funds for whatever you need (debt consolidation,...
As promised, this the second part to last week’s blog post on what happens to a property in case of a separation or divorce. One question we hear very often is: if I move out of the house before filing for divorce, do I lose...
It is no secret that the family home is the most significant asset many families have. So, what happens to this home if the couple ends up getting a divorce? Most couples begin saving for the down payment of this home as soon as they...