The financial world has irreparably changed. The way your corner bank did mortgages for your parents is not what you will experience today. The crazy part is that a surprising amount of Canadians do not know this. The fact is – your mortgage you signed with your bank is a Collateral Charge Mortgage (whether they…
The 0% percent car loan helps new car drivers to own their first car and others to buy their second. These car loan offers may run for a specific period, such as through August and October, to attract new clients to buy the car model they desire. This form of financing is a special for…
Few transactions are as confusing and costly as obtaining a first mortgage or refinancing an existing mortgage or owned property. Between the excitement, the paperwork, and the planning, for those without degrees in finance, mortgage mistakes are easy to make. Compounding the issue, despite increased regulation, banks have little incentive to explain the process to…
Borrowers should know what is an adjustable rate mortgage before choosing a loan for their home acquisition. The definition of adjustable rate mortgage (ARM) applies to loans with changing interest rates. The rates on this type of loan usually start with lower payment amounts than mortgages with fixed rates. However, ARM payments can vary greatly…
Back a few years ago I was in a tight position with money. I had credit card debt, a car loan, and mortgage to boot. Around this time I received a call from my lender telling me that I could lower my mortgage rate. In fact, the lender even mentioned that I could do a cash out…
In yesterdays article we talked about whether you should pay off your mortgage early or not, and in that article I gave valid reasons why this may or may not be a good idea. So in this article I’m going to take this idea one step further and see if it is better to pay off…
Do you you have a dream to pay off our mortgage someday. I know this is one my dreams, to be free and rid of a monthly mortgage payment that does noting but eat up your income. However before you consider, should I pay off my mortgage early, you may want to think about some…
If you’re like me and dread making that monthly mortgage payment I know exactly how you feel. It’s that one payment that comes and goes each and every month with no sign of going away anytime soon. So in this article I’m going to show you how to get a lower mortgage payment and on…
Earlier this week I talked about how I plan to pay off my mortgage in 5 to 10 years, however one of the big controversy’s I’ve been facing lately as I plan to buy my new house is whether I should go with a 15 year mortgage vs 30 year mortgage. So in this article I’m…
Lately, I’ve been talking about the process of selling my house and gearing up to buy a new house and as a result, I’ve been covering topics such as fixing a bad credit score to improve my loan rates setting up a budget to watch my finances a bit closer and now I’m going to…