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The Reverse Mortgage Dilemma.

The Reverse Mortgage Dilemma.

A dilemma for clients and Brokers alike. Short version; Engage your Mortgage Broker for a better understanding of this product. HomeEquity Bank Guarantees that the amount to be repaid will never exceed the fair market value of your home at the time that it is sold. No...

Buyer Beware the ‘lowest’ Rate in “Mortgage Wars”

Re-posting and edited from a piece written for www.rew.ca Short Version; Yes, a certain lender or Broker may offer a rate .05% lower than another.  But what is the true cost? The client may save $4.31 per month per 100K of Mortgage balance. ($250.20 over 5 years) but...
Moving Up, Sideways, and Downsizing – Ten Costs to Consider

Moving Up, Sideways, and Downsizing – Ten Costs to Consider

Short Version Purchasing a Property should be a calculated move, lacking in surprises. 1. Speak to you Mortgage Broker ask if you ‘Qualify to Port your mortgage’. It is not well known that although the mortgage may be ‘portable’ both the...
Ask your Broker or your banker the following Question; Part 2.

Ask your Broker or your banker the following Question; Part 2.

What have you done with your INVESTMENT property mortgage and why? This is another question which I encourage clients to ask or their Mortgage Broker or their banker. Short Version An open and questioning mind may lead one to mortgage products which result in savings...