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Many real estate professionals had anticipated the worst-case scenario when the Covid-19 pandemic hit. Predictions included large-scale numbers of mortgage arrears, notable declines in property values, and a drop in the number of home sales in Ontario and Nationally. Learn more
It can be a little confusing when contemplating the different types of secured mortgage loans that Ontario lenders can provide. It can also be a little intimidating when determining which lenders may be suitable when seeking a secured mortgage. Learn more
Lending is based on assessing risk. To mitigate risk, lenders will ensure as best they can that the money will be there to repay the loan. To best access risk, all Ontario lenders will calculate what is called the Loan-To-Value (LTV). Learn more
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
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
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
The Covid-19 Pandemic has touched everyone in some way. If not through a direct job loss or layoff, we have probably seen friends go through it. Routines have been upended, finances tested, and we have had to completely modify our daily routines as the Pandemic has taken its grip.
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 needs.
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
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.
