By

Ross Taylor
Ten facts about reverse mortgages There’s a lack of information around reverse mortgages, and as more seniors look to this type of financing to help their adult children as well as finance their retirement – it’s time to set the record straight on some misconceptions. That’s according to HomEquity Bank, a Schedule 1 Canadian Bank...
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Seniors carrying more debt than ever before Mortgage debt among seniors is increasing right across Canada, and for those aged 70+ it has increased 12% compared to 2013. That’s according to the results of a Debt in Retirement study conducted by HomEquity Bank and Equifax Canada. The study was conducted in July, 2015 and focused on...
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Mortgage portability can be a borrower’s lifeline A buyer called me recently to pre-approve him for a $490,000 mortgage as he is upgrading the family home. Today he  has a $250,000 mortgage  with a major chartered bank.  I am able to comfortably approve him with practically any lender, but I suggested he first go back...
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Properties with rental suites now more affordable Some buyers look specifically for homes with a rental suite, as a way of reducing the cost of home ownership and increasing affordability. Recent rule changes at CMHC have made both these scenarios more possible, and savvy realtors are sharing this information with their clients to help generate...
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Be a Better Mortgage Broker It doesn’t matter how long you have been doing something, you can always do it better. Dustan Woodhouse has just released the first of a three part series of books called Be The Better Broker. This is a series of books that teaches the core principles of successful Mortgage Brokering. This...
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Repair bad credit for future mortgage Janet bought her first house with me last month, despite having no credit score whatsoever! She has decent income, but after some bad debts which were racked up by an ex-boyfriend several years ago, she never bothered to rebuild her credit history. Gun shy. This means that when she...
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Is the GTA real estate market settling down I was speaking recently with Lisa LeGrow, from York Region’s Main Street Realty. She always has great insights for me on the local market. She noted there has been a subtle change there – whereas only a few weeks ago, homes under one million dollars were going to...
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1.85% Variable Rate Mortgage Meridian Credit Union has decided to flex its muscles and is offering their closed, five year variable rate mortgage at an incredibly low 1.85%. That is Prime less 0.85%. Back when I got my first mortgage at 14.75% in 1990, I never dreamed we would ever see rates so low! And...
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