A reverse mortgage is a loan based on the value of your home. With a reverse mortgage, you are not selling your home to the lender. You still hold the deed to your house and you get to live in your home.
Read more about How to Know if a Reverse Mortgage Is Right for You? »
Debt consolidation is a great way to pay your various debts through one payment plan with one lender. The total amount you owe has not changed, but most debt consolidation loans have lower interest rates than many other types of loans. The savings from paying a lower interest rate could be significant.
Read more about 10 Ways to Slash Your Debt During the Pandemic »
In March of this year, many Canadians took advantage of an option called mortgage deferral. When your mortgage is deferred, your principal payments are postponed thus lowering your monthly expenses to cover interest charges only.
Read more about COVID-19 Mortgage Payment Deferrals »
Refinancing a mortgage is a good alternative to other borrowing options such as lines of credit and other loans. You can refinance your mortgage as many times as you need. With that said, the lender you want to use may only allow a certain number of refinances or a specific credit score minimum to proceed. Talk to different lenders and see what their requirements are to get mortgage refinancing.
Read more about Can You Refinance Your Mortgage a Second Time? »
One thing that we pride ourselves on at Mortgage Broker Store is our ability to deal with difficult power of sale and foreclosure situations. Since we are generally well known for this expertise, we get a lot of calls related to legal issues with mortgages. This specialization gives us a general idea into the state of mortgages in Ontario. We’ve looked through our website statistics and the number of inquiries we’ve gotten and have come to some general conclusions.
Read more about Power of Sale Bank Warning »
Mortgage Broker Store Inc has been a “private mortgage first” lender for over 13 years, and we’ve learned many lessons along the way. When we started, the website was built on the now-defunct “RV Site Builder,” and now we run on the world-class WordPress platform with help from industry professionals to enhance the look and feel for the website.
Read more about Building a More Modern Mortgage Website »Answers to common questions about this Mortgage Broker Store page.
The blog covers private mortgages, second mortgages, power of sale, home equity, bad credit mortgage options, debt consolidation, and practical mortgage education for Ontario homeowners.
No. Blog articles are general education. A mortgage recommendation should be based on the property, income, credit, debts, timeline, and lender options available for the specific file.
Yes. If an article matches your situation, you can contact the team and reference the topic so the discussion starts with the right context.
Use the articles to understand terms, risks, and possible paths, then confirm the numbers and lender requirements before making a decision.
