Category

Mortgage Renewals & Refinancing
Renew Mortgage
A reader asks whether COVID-19 has affected her ability to renew a mortgage while still in a consumer proposal, and whether it's possible to refinance, pay off the remainder of the consumer proposal and establish a secured line of credit.
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Text:Rising Interest Rates And Your Mortgage Background: Well-lit home in the evening
Published: • Since the summer of 2017 we have seen the Bank of Canada Prime interest rate increase five times – from a low of 2.7% to the current 3.95%. This means that most homeowners with variable rate mortgages saw their mortgage payment increase five times in eighteen months! At the same time, five-year fixed...
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mortage renewal 700450X THUMBNAIL
Canada's mortgage stress test and a new international accounting standard -- IFSR 9 -- are creating tremendous uncertainty for mortgage renewals, including for some borrowers, shockingly high interest rates.
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mortage renewal 700450X THUMBNAIL (1)
Auto-renewing your mortgage is easy, but can be a very poor financial decision. These top 3 mortgage renewal tips will help you get the best rate and terms and may save you thousands of dollars.
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https://askross.ca/alternative-mortgage-lenders-canada-bad-credit-private-second-mortgages/
The media paints alternative lenders as shadowy, less-than-reputable lenders who prey on desperate homebuyers. We look at the important role that alternative and private lenders play in the market and compare them with traditional "A" lenders, such as banks.
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If you are a homeowner in the middle of a consumer proposal, did you know you can get a home equity loan or mortgage refinancing to pay off your consumer proposal and get on with your life? There are several reasons why you might do this: Keep more of your pay every month. Your overall...
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Published: • Your Bank Isn’t Always The Best Choice For A Mortgage Most of us have accounts with a chartered bank, so it’s natural we turn to them when we need a mortgage. “It’s convenient to have it all in one place.” “They know my situation best.” “My family has always done their mortgage with…”...
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Published: • Got equity in your home? 7 ways you can make it work for you One of the nice things about being in the real estate industry for so long is I have seen lots of examples of Canadians boosting their net worth dramatically by virtue of building equity in their home. When I...
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How To Take Equity Out of Your Home When You Need Additional Cash One of the benefits of our bullish real estate market is many of you have accumulated substantial equity in your homes. Some are content to think of this as a core part of their retirement plan, while others are itching to put...
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