In 2020, banks issued deferrals to almost 800,000 Canadian mortgages. Once payments resumed, Canadian homeowners decided they no longer wanted to worry about mortgage payments and looked for ways to eliminate the debt. Loans are common options for paying off a...
According to the Financial Post, rising interest rates aren't good news for some home equity borrowers. Those with fixed-rate home equity loans won't feel the difference. But, those with a variable rate home equity line of credit may see their rate go up. HELOC...
Canada is a nation of homeowners, with nearly 70% of Canadians owning a home. Homeownership comes with many benefits, but one of the best is building equity. Equity represents the difference between what you can sell your home for and the amount you still owe on the...
Home renovations can significantly add the value of your property, improve living conditions, and make your home more energy efficient. However, renovations often come with high costs that can strain your finances. If you're planning to upgrade your home but lacking...
As Canadians approach retirement, financial security becomes a top priority. For many homeowners, their house represents a significant portion of their wealth. But how can you tap into that wealth without selling your home? This is where a reverse mortgage comes into...
If you are Canadian homeowner and want to get a second loan on your mortgage, then it is possible by taking out equity from your property. Second loan on a mortgage commonly known as Second Mortgage is used by homeowners to fulfill various financial needs such as home...