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In Ontario, balloon payments catch homeowners off guard. These payments are enormous lump sums that the mortgagor must pay at the end of the mortgage. Many don’t plan for these payments and are thrown into duress, panic, and power of... View Article
When households experience financial difficulties, such as failing to pay their mortgage, accumulating debt, and facing foreclosure, homeowners often approach the bank for a refinance. Banks denying this request can be a death blow to a desperate applicant, and may... View Article
The market can be so big that, depending on the price window selected in an app, it can be a buyer’s market in the home-price range set by the buyer or a seller’s market in a different price range. When... View Article
Home flipping can bring a fast buck for almost every serious investor, especially when the real estate market is booming. Conversely, this venture is hazardous. Many first-time investors rush into flipping projects without adequately preparing and make costly mistakes, diminishing... View Article
Canadians applying for a mortgage may have to confront the term “high-risk mortgage.” The term might sound intimidating to someone with financial difficulties, resulting in bad credit, limited proof of income, or several debt obligations. Understanding what makes a mortgage... View Article
Canadian homeowners often wonder whether being young or old affects mortgage approval. In Canada, the banking system does not set income limits to mortgage eligibility, but income stability, credit history, and repayment scheduling are age-related matters that can impact mortgage... View Article
Almost all Canadians wish to pay their mortgage early. After all, the residential mortgage debt is usually the most significant liability an individual faces for 25 years. Fortunately, accelerated payments rescue the homeowners, reducing the mortgage term by thousands of... View Article
For homeowners in Canada, the decision to relocate often comes with the additional consideration of how to best manage their mortgage debt. The options are either to port the existing mortgage to the new property or break the current mortgage... View Article
One question that first-time home buyers consider is, “Is mortgage insurance something that I need?” Many people misunderstand mortgage insurance, but it’s imperative in the Canadian housing market. Every buyer must know where it’s needed, who pays for it, and... View Article
There’s an undeniable financial shift in Canada. In 2025, many Canadians will see mortgage rates increase due to economic pressures and policy changes. Household budgets have become strained from significant payment increases, and 1.2 million fixed-rate mortgages are up for... View Article
