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Debt Consolidation and Refinancing Options for Canadian Homeowners
For many Canadian homeowners, paying off debt is the number one priority for achieving financial health. Here we explore various debt consolidation and refinancing options Canadian homeowners can choose from to achieve financial freedom once and for all.
Read moreThinking of Refinancing? Now is the time to do it!
The last time Mark Carney spoke about interest rates, he said that hikes were “less imminent.” And now that he’s leaving us for the Bank of England, it’s likely that he won’t have to speak about them at all; as rates probably won’t go up until midway through next year. Still, even they do go…
Read moreHome Refinancing can Help You Get Out of Debt
All week long we’ve been bringing you some pretty scary statistics when it comes to debt. The scariest stats of all though were probably brought forward yesterday, when we showed that Canadians now have an average debt to income ratio of about 161%. But we never sound the panic alarm without at least offering a…
Read moreRefinancing vs. Renewing a Mortgage
Often, the terms “mortgage refinancing” and “mortgage renewal” are used interchangeably. But really, there is only one similarity between the two. That’s the fact that they both deal with your mortgage. Mortgage renewals typically only renew your mortgage. This is especially important with Ottawa mortgages because Canadian mortgages work on terms and amortization rates. When…
Read moreUsing Home Equity to Purchase a Second Home
More and more Canadians are starting to purchase second homes; and as the number of retirees grows, so too will the number of second homes that are purchased. So, if you’re one of those Canadians looking to soon by a second home, how can you pay for it? One option is to simply save up…
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How to Remove Cosigner from Mortgage
So you cosigned a mortgage for someone, and now you want off of it. Whether it’s because the other person isn’t making up their share of the payments, or because they’re now in a position to handle a mortgage on their own, you want your name off the mortgage contract. But it was a huge…
Read moreBanks vs. Brokers
As more and more Canadians start to turn to Toronto mortgage brokers and Ottawa mortgage brokers to find them the best mortgage deals, the banks are becoming increasingly worried. The mortgage market is already competitive enough within the Big Banks themselves, and brokers offering homebuyers and homeowners a better deal are now eating into those…
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