My advice is simple: Over 50? Get a secured line of credit while you can qualify. + MORE Nov 15th

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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How much you need to earn to afford a home in Toronto and the GTA + MORE Oct 8th

Looking at the Toronto housing market through a lens of percentages, shifting sales numbers and interest rates may be the go-to method for industry insiders, but for many run-of-the-mill buyers, there’s really one thing that matters: “What kind of home can I afford?” To help answer that que.... More »
 property

Making sense of the markets this week: September 24, 2023 + MORE Sep 23rd

Allan Small, Senior Investment Advisor at the Allan Small Financial Group with iA Private Wealth, shares financial headlines and offers context for Canadian investors. No surprise: Canada’s inflation rate ticked up in August Canada’s annual inflation rate jumped to 4% in August, up from 3..... More »

Mortgage borrowers to see payments increase by 20-40% at renewal: Bank of Canada May 19th

The Bank of Canada says it it concerned about the ability of households to service their debt, particularly as mortgage holders are facing payment increases of up to 40% at renewal..... More »
mortgage

Toronto housing bubble: Is it ready to pop? + MORE Nov 25th

The Toronto real estate market has experienced remarkable growth over the past two decades. The average home price in Toronto surged by a staggering 489% from 2000 to 2022, according to the Toronto Real Estate Board (TRREB). This rapid price growth has raised concerns about the future of affordable .... More »
 bank mortgage

Is the family responsible to pay the mortgage for a loved one who has passed away? + MORE Aug 18th

When someone dies and owes money on a mortgage, is their common-law spouse responsible for paying it off? The house was in the name of the deceased only—the common-law spouse wasn’t a co-signer on the mortgage, and her name is not listed on the deed.  —Louine You’re 2 minut.... More »
My advice is simple: Over 50? Get a secured line of credit while you can qualify.
Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.
The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend as needed. Many successful investors have been doing this for decades. Borrowing to invest makes smart financial success. Don’t let anyone tell you differently.
We’re seeing more reasons for Canadians to get a secured line of credit now: Age; Income; and Qualification.

If you’re 50 or older and have a mortgage coming due, or maybe you have no mortgage, you should strongly consider getting a secured line of credit instead of just renewing your mortgage.
If you’re retiring, opting for a reduced work schedule or anticipating a reduction in your income for any reason, please act now!
If you don’t think this applies to you, guess again. The new mortgage rules have made it much tougher to qualify…

Continue Reading On canadamortgagenews.ca »

These Homeowners Need a Private Mortgage

– canadianmortgagetrends.com

Most of us don’t give much thought to private mortgages. We are vaguely aware they exist, but perhaps have the impression they are mortgage solutions for financial derelicts. But that is totally not true. More often than not, they are needed when bad things happen to good people. And private mortgages and B-lender mortgages are […]

Continue Reading On canadianmortgagetrends.com »

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