To Pay off Debt, or Create Wealth?
“Pay off your debt, pay off your debt!” This is what Canadians have been hearing for months and months now; and with record household debt levels, it’s no real wonder why. Yes, we have a lot of debt and yes, we need to be finding ways to continue to pay it off – and the…
Read moreWhen Buying Investment Property, is it Better to be Young?
Ask anyone over the age of 55 and they’ll likely be able to give you a long list of things that were better when they were young. But, is buying investment property one of them? While investing in real estate is always a much better option than buying stocks, bonds or mutual funds (especially in…
Read moreCo-Signing a Mortgage: What, and Who, is It?
Many people start to panic when a lender tells them that they’ll need someone to co-sign a mortgage for them, but they shouldn’t. Needing a co-signer simply means that you nearly meet that lender’s requirements, but they need a little more reassurance that the loan will be paid off. When you have a co-signer on…
Read moreCanadians Doing Nothing About Debt
“There’s been a lot of talk this year about us Canadians and our debt. And a lot of that talk has revolved around how we know just how much debt we have and that we’re not worried about it. But, do we really know how much debt we’re currently holding? And if so, why aren’t…
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Need a Co-Signer or a Guarantor? Know the Difference!
As Toronto mortgage brokers, it’s something we see quite often. A person wants to apply for a mortgage, but they know they won’t qualify on their own (or they just found out that they won’t.) Panic-stricken, they start reaching for any option available. Can they get a co-signer? A guarantor? Who can they ask? Whoa, hold on a second! A co-signer and a guarantor are two very different things, and it’s important that you understand them both. So that when the time comes to ask, you’ll know what you’re asking of the person.
Read moreGetting a second mortgage in Canada – Things to be taken into account
The purpose of taking out a second mortgage loan in Canada.
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