House rich: How to access the equity in your home Nov 16th

Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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This 34-year-old hospital worker has three kids and a mortgage to pay off. Making $104,000 a year, he wants to save $50K each for his kids. How can he start? Dec 23rd

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With the national average home price up a record 18.5% in August 2020 compared to the same time last year, more Canadians than ever have a significant portion of their wealth tied up in their homes.
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to baby boomers who’d like to help their adult kids financially, to young parents struggling to save due to the high cost of living and childcare.
Many are now looking at ways to access the  equity in their homes. These include refinancing their traditional mortgage, obtaining a home equity line of credit (HELOC) or getting a reverse mortgage. But how can you determine which option is best for you? To help you decide, we’ve outlined four common scenarios of house-rich homeowners, and how—or if—they should go about tapping into the equity in their properties.
Scenario 1: Pensioners who need to increase cash flow
While lucky enough to have company pensions, these retirees underestimated their post-work cash-flow needs…

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