Where will Your Kids be Living when You’re 65?
There’s nothing better than family, right? That’s what many of us believe. But what about when it comes to living with that family? And more specifically, living with our children? Having those children is a goal many of us strive to achieve in our single years. And it’s a choice we’re all very happy with during our working years when our children are small. But what about when they grow up? After they’ve graduated high school and are now responsible adults in their own rite? Sure, there’s probably still nothing better than them in our lives. But do you really want them living with you at that stage?
Read moreCan You get a Second Mortgage on a Commercial Loan?
A few days ago we talked about the differences between a commercial mortgage and a residential mortgage. And while the two certainly do have their differences, that post also outlined some of their similarities. One of those similarities, that was not covered in the earlier post, was that second mortgages can be obtained on both. However, there are still some differences between a second mortgage on a residential loan and one on a commercial mortgage. And the reasons a homeowner wants a second mortgage are probably going to be different than the reasons of a business owner.
Read moreThe One Time You Need a Credit Card
Generally, credit cards bring a kind of debt that you don’t want. They come with high interest rates and are considered ‘bad debt,’ since you’re not actually investing in anything for your future when using them. However, there is one time you need a credit card, and that’s if you run a home business.
Read moreHow Does a Second Mortgage Differ from a First Mortgage?
Last week we covered the differences between second mortgages and home equity loans. We began that post by saying that a second mortgage is any mortgage taken out after, or in addition to, the original mortgage on the home. But aside from the fact that second mortgages are taken out in addition to the original mortgage, what are the differences between a first mortgage and a second mortgage?
Read moreBMO Lowers Fixed Mortgage Rate
Perhaps in an Effort to Combat HST, BMO Lowers Mortgage Rate
Read moreStaying on Top of Your Debt
Keeping your finances in order and staying on top of debt can be troublesome for many Canadians.
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