Reverse Mortgages (55 yrs+) This is an idea whose time is now. Factor together our aging population, exploding home values, and the high cost of living, there is so much home equity that seniors age 55 and over can tap into. The list of possible uses is limited only by your imagination: Pay off debt Need...Read More

Don’t Listen to Interest Rate Predictions Personally, I don’t put much stock in predictions, unless they are to affirm the status quo. All I have been hearing is how interest rates will increase this year. I accept interest rates will be higher in my lifetime, but don’t ask me to tell you when. I have...Read More

Buy first home or repay student loans? Today’s question came from Alison in Mississauga: “Hi Ross I currently have a $50, 000 CAD student loan which I must now start paying off. I have a short term work contract, making a $70,000 a year salary. I have about $10,000 in savings, but am unsure about how...Read More

First home or student loans? This is part two of the response to a question from Alison, who wanted to know if she should first pay off her student loans before saving for a house. You can read part one here. Hi Alison, I like the idea of power saving for the foreseeable future –...Read More

Why refinancing makes sense What is mortgage refinancing? Refinancing is the process that pays the existing mortgage and/or any other legal claims against the property and sets-up a completely new mortgage. Refinancing can save you lots of money when market interest rates drop one or more percentage points below your present rate. Mortgage refinancing can...Read More

Come to the dark side Anytime someone wants to borrow money – for whatever reason, from whomever, lenders always ask themselves one  simple question –“will they pay this back?” This is true even if it is your best friend hitting you up for a personal loan, or if you are sitting in your local bank...Read More

Marriage break up who gets house Liz from Ajax wrote me the other day; “I recently asked my husband to move out of our home (which he did) and I am now planning to divorce him. As we discuss the financial aspects of our divorce, he wants to keep the family home, and get me to...Read More