Defaulting on a second mortgage, which is a lien taken after your primary mortgage, can lead to significant consequences of foreclosure. Just like your first mortgage, a second mortgage requires timely payments. If you fall behind, the lender can deem the loan in...
Private lending has become a significant segment of the mortgage market, offer wide range of solutions where traditional lenders may not reach. Addressing complex financial needs of borrowers and providing solution that fits individuals’ unique requirements making...
A reverse mortgage can be a valuable financial tool for Canadian homeowners aged 55 and older, offering a way to access the equity in their homes without having to sell or move. This comprehensive guide will explain what a reverse mortgage is, how it works, the...
Are you grappling with debt owed to the Canada Revenue Agency (CRA)? Ignoring your CRA debt can lead to serious financial repercussions, including compounded daily interest that can quickly escalate the amount you owe. However, there's a viable solution that might...
It’s a tough spot to be in foreclosure, but there's hope on the horizon for Ontario homeowners. Even if it feels like you’re down to the wire, utilizing a home equity loan might just be the lifeline you need. Facing foreclosure can have a devastating impact on your...
Facing the possibility of foreclosure can be incredibly stressful. However, there are several proactive steps you can follow to avoid foreclosure and maintain stability in your financial life. Whether you're currently struggling with mortgage payments or just cautious...
Facing foreclosure can be a harrowing experience, filled with uncertainty and stress about losing your home. The good news is, there are steps you can take to stop foreclosure and maintain homeownership. Understanding the specific processes, including 'foreclosure'...
Trying to secure a home equity line of credit (HELOC) can feel daunting, especially if your credit score isn't exactly sparkling. But don't lose heart! Even with bad credit, there are paths forward to help you unlock the financial flexibility that a HELOC provides....
Exploring your financing options as a homeowner with bad credit can feel daunting. However, traditional banks aren't your only resort when it comes to securing funds for home improvements or purchasing a new property. In today's market, various alternative financing...
It's no secret that being a homeowner comes with financial responsibilities, but the survey sheds light on specific challenges that existing homeowners are currently facing. One of the key findings from the survey is the increasing levels of debt among existing...
With rising interest rates, many Canadians are feeling the financial squeeze. A Yahoo Canada/Maru poll reveals that a quarter of respondents are “not coping well” with current interest rates, and for homeowners with mortgages, this pressure can be even more intense....
Navigating the mortgage landscape can be complex, especially when life throws financial challenges your way. If you’re a homeowner dealing with a low credit score, inconsistent income or high amount off debt due to missed payments, securing a mortgage through...
For many homeowners, the dream of owning a home can quickly turn into a nightmare when faced with mortgage arrears. Missing mortgage payments can happen due to many uncertainties in life such as job loss, medical expenses, or other financial hardships. If you’re in...