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Why Banks Want You To Sign the Renewal Agreement That They Mail Out To You Most banks boast a higher than 90% renewal rate on their mortgages (some even higher than 95%). Since it costs them a lot more money to acquire a new client vs. keeping an existing one, banks...
Many people ask the question what is a mortgage broker? There are countless opinions on whether it is smarter to work directly with a bank when acquiring a mortgage or whether it is more beneficial to work through a mortgage broker. Opinions fall in favor of both...
What Happens with Mortgage Fraud and Why You’re Not Safe Nowadays, with the amount of information that is shared on the internet and social media, identity theft and Ponzi schemes are happening regularly. Homeowners are taking the necessary steps to protect one...
The incredible rise of house prices across Canada over the past few years may come as no surprise, but many home owners are sitting on a time bomb and nobody knows when it will explode; however, there has been a lot of talk of rising interest rates to help slow down...
Are you really ready for home ownership Around the end of May 2014, the market started to experience a declining trend in mortgage rates. Though the housing market was already superb, professionals in the industry began gearing up for an influx in home buying....
When looking for a mortgage you have two choices, mortgage broker or bank. Ask yourself is a broker or bank going to give you the best possible rates. This should be a big deciding factor when making the decision whether to use a mortgage broker or bank. If you use...
HELOC? Is it me you’re looking for…to better your home financing options? Do you have a large amount of equity built up in your home? Are you looking to further enhance your financial position? A HELOC may be just the type of financing that you are looking for. ...
Buying a home is a great chance to find your dream property and make an investment into your future. Being a first time home buyer can be an exciting, but also overwhelming, experience. As a first time home buyer there are many different parts of the process to learn...
A guarantor or co-signer is a person who agrees to repay a loan for another person if that person goes into default. Having a guarantor loan may be the only way for someone with bad credit, low income, not enough down payment, or questionable employment history to get...
Another Troubling Sign for Canadian Economy The Canadian economy contracted in May by 0.2 percent, the fifth consecutive monthly decline. Here we go again. Another in a long list of serial disappointments for the Canadian economy. What is particularly...
There are many types of mortgage fraud. One of them is the use of straw borrowers, also known as a straw-man. The term straw-man originated in ancient Rome and is based on the theory that every person has two personas—one of them is as a real human being, and the...
During the past couple of years the term “collateral mortgage” has gained a bit of a negative reputation, especially since TV shows like CBC’s Marketplace have taken notice. Marketplace felt it was worth doing a segment about collateral mortgages because the lenders...