If there is one thing we've all learned with Covid-19 is that unforeseen circumstances can show up at any time and have an impact on our finances, especially on our ability to make regular mortgage payments. With early intervention, cooperation, and a well executed plan,...
The new "normal" brought in by Covid-19, has made people question the future of real estate and whether or not they should be investing. While people might be nervous about travelling and even leaving their homes, it’s not stopping the real estate market from continuing...
Mortgage rules are undergoing some changes due to the current situation with Covid-19. The Canadian Mortgage and Housing Corporation (CMHC) announced changes to the eligibility rules for mortgage insurance, in the agency’s latest response to the COVID-19 pandemic. What are the new rules? The new rules...
This is part two of our blog on joint mortgages. After discussing the advantages and disadvantages of having a joint mortgage, we are going to address the different part of a mortgage as to how they look into a joint agreement and a non-joint agreement....
With the growing challenges couples face to buy property, in part due to houses becoming more and more expensive, more and more people are considering a joint mortgage. What is a Joint Mortgage? As the name indicates, it is a mortgage that you take out with another...
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...
In the past, we’ve blogged about the topic of mortgage and divorce. There is also the question of how to deal with debt in a marriage. What happens to the debt each individual has before getting married? Will the individual’s debt affect the other person’s...
More so now than ever before we see people worry about their debts. COVID-19 brought an unprecedented reality to all of us. If you are out of work as a result of the coronavirus pandemic, you have noticed by now that the bills were not...
Predatory lending is not something new and has been affecting many Canadians across the country for many years (check our previous post on this topic). However, the unprecedented financial situation caused by COVI-19 has made predatory lending easier and many Canadians are falling for...
One of the surprising news this week was the just announced rate cut by the Bank of Canada. Since the start of the month, the rate has been cut twice. This time around the central bank’s benchmark interest rate was cut by 50 basis points...