A home equity line of credit (HELOC) is a line of credit that allows you to borrow from the equity in your home. Home equity is the difference between the value of your home and the unpaid balance of any current mortgage you may have.
A second mortgage is when an additional loan, with a different mortgage lender, is taken on a property that is already mortgaged. When the mortgage holder makes payments on the second mortgage, they must also continue to make payments on the primary mortgage.
As you approach retirement age, if you have registered retirement savings or pension plans, you’ll need to know all about Registered Retirement Income Funds (RRIFs).
Today, Canadian retirees need to adjust their retirement plans to account for the changing retirement landscape.
Canadians are increasingly turning to reverse mortgages to live the kind of retirement they deserve. Last year alone, CHIP Reverse Mortgage inquiries more than doubled.
Dr.Gordon Atherley has had an active life. He spent many years working as an epidemiologist,
People often ask if there are any restrictions when it comes to selling a home when the owner has a reverse mortgage.
A remortgage is when you take out a new mortgage to replace your current one, for the same, or more money.
At the beginning of 2018, the federal government introduced new rules —”B-20 Guidelines”—that have had a significant impact on many people looking to get a mortgage.