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Debt Consolidation- All Your Questions Answered

Debt consolidation represents taking out a mortgage loan using your property as collateral and utilizing existing equity in your home to merge all debt payments (liabilities) under this one loan to reduce the payments to just one monthly payment. Learn more

How to Borrow Using Your Home Equity in 2021

If an Ontario homeowner is facing ongoing household debt and damaged credit, a good option to consider is to tap into the existing equity in an owned property. Many Ontarians have put money into their homes to increase the overall value of their property. Why not make your property work for you? Learn more

Debt Consolidation in Toronto And The GTA

In the fourth quarter of 2020, bankruptcy rates in Canada increased by the largest amount since 2009. Bankruptcy as it is better known is a financial designation given to a borrower who is unable to repay any of their debts. Learn more

When Should You Get a Private Mortgage?

When searching for mortgage financing, there are many different types of mortgages available for the Ontario homebuyer. There are also many different types of lenders that are available in Ontario to help an Ontario borrower reach their mortgage and financing... View Article

The 2020 Year in Review

2020 will undoubtedly be remembered as a year marked with unprecedented events and a year where everyone was trying to make their way through unchartered territory. It is no secret that Covid-19 has proved to be stressful for many. We... View Article

Second Mortgage Explained

A second mortgage is a loan against a property that already has a mortgage on it. Just like a mortgage or loan, you are expected to repay the second mortgage with interest. If you do not make the required payments, the lender can sell your home to get their money back.

How to Stop a Power of Sale

With COVID-19 causing a second lockdown across Ontario, borrowers are wondering how they can stop power of sale on their home if they cannot to keep up with the required payments. While this is a challenging predicament to be in, there are ways to stop a power of sale.

Should I Take Out a Second Mortgage?

A second mortgage is an additional mortgage you get on a property that already has a mortgage. A second mortgage can look like a regular mortgage where you borrow all the funds at once. It can also come in the form of a home equity line of credit (HELOC) where you borrow funds as you need each month up to an amount approved by your lender.

Mortgage Arrears in Ontario

In 2020 alone, The Canadian Bankers Association reported 0.25 percent of mortgages were in arrears across Canada. The financial crisis of 2008 led to a decrease in interest rates, causing a surge in home purchases. Now, just 12 years later, homeowners are suffering yet another economic crisis, paired with a pandemic that has forced many Canadians into financial flux.