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Worthwhile Canadian Initiatives (Newsweek Feb 2009)

https://donnasmortgages.com/articles/Canada1.pdf  

Power of Sale/Foreclosure/Bank Sale/Judicial Sale

  A power of sale proceeding occurs when the lender has taken over the property due to a default on the loan/mortgage. This has also been referred to as a foreclosure or bank sale. The province you live in will dictate the rules the lender is required to follow. Prior to the lender issuing the… Read More…

Residential Second Mortgages and Home Equity Loans

A second mortgage is a registered lien on your property. This lien is in second place, behind the first mortgage. Because second mortgages are riskier, the interest rates are usually a minimum of 10-12%. A new second mortgage can be used to purchase a home or to refinance an existing home. If refinancing, the new… Read More…

Reverse Mortgages

Are you 60 years of age or older and find that your cash flow isn’t what it used to be?  If you’re struggling to make ends meet then a reverse mortgage could be for you.  Or perhaps you’d like to access the equity in your home for investment purposes but don’t want an extra payment. … Read More…

Is Your House Paid For?

This might seem like a strange question, but as your mortgage lenders for life, we are constantly searching for ways to significantly benefit our clients. Through an innovative financial service, tens of thousands of American and Canadian homeowners are building equity and paying off their mortgage and all their debt in a fraction of the… Read More…

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