More and more Canadians are going into their retirement years without a lot of money saved in the bank. It is suggested that in order to live a financially comfortable retirement, couples should have saved 50-60% of their peak pre-retirement income, which equates to roughly $42,000 to $72,000 a year or $275,000 to $1,025,000. Singles […]
Housing Market
Is a Rent-to-Own Right for You?
Are you a homeowner who needs to refinance past 80% of the value due to financial challenges? Are you wanting to purchase a home but don’t have sufficient down payment or have credit issues? You may want to consider a rent-to-own situation. For the homeowner, refinancing past 80% is a thing of the past (except… Read More…
Stealing The Home From under You – The Growing Problem of Title Fraud
Stealing The Home From under You – The Growing Problem of Title Fraud Imagine this. A Canadian homeowner – a successful professional with a lovely home in a nice neighbourhood – arrives home after work one day to find a “For Sale” sign on his lawn. Imagining that it may be a practical joke, he… Read More…
Investment Properties – An Alternative to RSP’s
Over the last few years, relatively weak stock markets (compared to the late 90’s) along with continued global economic uncertainty have changed the way many Canadians are investing their hard earned dollars. More and more Canadians are venturing into the rental property market, some swayed by the real estate appreciation that we’ve seen over… Read More…
Investing in Rental Property
Over the last few years, relatively weak stock markets (compared to the late 90’s) along with continued global economic uncertainty have changed the way many Canadians are investing their hard earned dollars. More and more Canadians are venturing into the rental property market, some swayed by the real estate appreciation that we’ve seen over… Read More…
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…