Leamington
When you take out a mortgage, the only thing you tend to think about is whether you can afford your current monthly repayments – but what if they were to rise? Could you afford to pay them then? A survey by the Bank of Montreal has found that almost 1 in 6 Canadians would not … Read more
How a Mortgage Rate Increase Can Negativey Impact Debt Payments Taking out a mortgage is the only way for most people to purchase a property, but it isn’t always easy to get the credit you need. As well as needing a substantial deposit, you’ll need to have a reliable income in order to obtain financing. … Read more
Getting a Mortgage When in Debt Owning a home is a dream that many people can relate to. Being able to move away from renting and dealing with landlords is liberating, but there are a couple of challenges to overcome before you can safely get a mortgage. One of those is dealing with your debts. … Read more
How Can I Keep My House if I Can’t Pay My Mortgage? A mortgage is the largest and most expensive loan that most people will get during their lifetime. This loan covers the cost of a home, enabling you to escape the pressure of paying rent, while also building a legacy for your kids and … Read more
Mortgage Debt Where have some of your most meaningful memories been made? The likely answer is your home. While we often think of houses in terms of financial assets, a home serves a multitude of purposes, from being the refuge after a long hard week to the literal shelter for your family, to being a … Read more
Working as a Mortgage Broker and Going Bankrupt If you’re a Mortgage Broker/a Mortgage Agent and you’ve just become bankrupt in Ontario you might wonder whether you can still continue in your role. And while this is on a case-by-case basis, it’s important to know that typically you won’t lose your license if you’ve found … Read more
How To Walk Away From A Mortgage It’s possible that you have negative equity in your home. This basically means that the mortgage has a higher value than the market value or equity of the property. It is often referred to as being underwater. Ultimately, this means that when it’s time to sell, the home … Read more
Getting a Mortgage after Bankruptcy: Is It Possible? The bankruptcy process takes its toll on your creditworthiness. Following the date of bankruptcy, most creditors will not lend to you. But what about getting a mortgage after bankruptcy? Is that likely or not? Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free … Read more
Many Canadians think that it’s impossible to get a mortgage renewed after bankruptcy. But luckily, that is not actually the case. A home mortgage is a type of secured debt, and these kinds of debts are not included when you file for bankruptcy. This means that you can keep your mortgage and continue making payments … Read more
What is Jingle Mail? This name arose in Alberta in the 1980’s when mortgage holders started to mail their home keys to the banks. The envelopes would jingle. Alberta and Saskatchewan are the only Canadian province where non-recourse residential mortgages are commonly available. A non-recourse mortgage is one where the mortgage holder is not responsible for … Read more
