Be Prepared if you Want to Refinance Your Mortgage
Refinancing your mortgage sounds like such a simple thing, doesn’t it? You decide that one part of your current loan isn’t working out very ideally for you – maybe you want a longer term or a longer amortization period – and you go speak to a mortgage broker who can help make that happen. Easy….
Read moreWhen Canadians Foresee Being Mortgage-Free
All Canadians want to pay off their mortgages faster. But just how fast do they think they’ll be able to do it, and is that view realistic? According to an RBC Housing Snapshot Poll released last week, Canadians think they’ll be mortgage-free much sooner than they may actually be. The poll shows that 72% of…
Read moreWhen Looking at Debt, We Must Compare Apples with Apples
Here it comes, the debt talk again. We’ve been hearing now for two years about how our debt-to-income ratio is climbing, and that it currently sits dangerously high somewhere near 155%. The worry comes from the fact that when the bottom dropped out of the U.S., their ratio was at 160%, and the fact that…
Read moreUnderstanding Old Age Security
It was just a couple of weeks ago that Stephen Harper proposed raising the age of receiving Old Age Security benefits at the World Economic Forum; and sent Canadians into a near-riot at the very mention of such a thing. Before any official proposal was even put forward, or before Harper could fully explain what…
Read moreConfusion Surrounds Canadian Housing Market
The confusion with the current state of the Canadian housing market began when interest rates were set to record lows early last year. That created a surge of homebuyers, and of home sellers that knew those buyers were ready to pay whatever price was put on a home. That led to home prices climbing and…
Read moreING Direct Offers Canadians a New Kind of HELOC
ING Direct surprised everyone in early December when they started offering collateral mortgages – and only collateral mortgages. But it seems, that wasn’t the only move the lender had on the agenda in order to get their already popular product out to even more Canadians. Now, the lender that “saves you money,” is going to…
Read moreAre Payday Loans Criminal?
Many of us know about payday loans, or have at least seen one of the many storefronts offering them – there are over 1300 in Canada, after all. And while many of us know of, or have heard of, these storefronts that charge extremely exorbitant fees and interest rates, are payday loans criminal?
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