If you happen to be going through a separation or divorce, you need to be aware that there are mortgage products designed specifically to allow you to refinance your home in order to buyout your, soon to be ex, spouse. (more…)
Debt consolidation refers to taking all your separate debts and creditor and putting them into a single loan. Making it easier for borrowers because it there is only one payment, less interest paid on each dollar, strengthens credit scores, and simplifies the repayment process.
A debt consolidation loan’s terms will depend on your credit score (the better your credit score, the better the interest rate), amount of debt, and type of loan taken.
Debt consolidation loans come in many forms and cover consolidating many types of debts.
When you incorporate your business, you can protect your personal finances and personal property in the event of a legal action being filed against you as the only assets liable would be those that belong to the corporation specifically. Incorporating your business also allows you to purchase assets under that company which lets you increase your business assets, credit rating and enter into real estate investment’s.
Foreclosure is an unfortunate event and it can happen to anyone, even you. The good news is, if you are still in your home but you’re already in foreclosure, you may be able to stop it. Generally speaking, real estate lawyers or very specialized mortgage agents, are the only people who are qualified to explain what Foreclosure and Power of sale means and what might be done about stopping it as we have the experience and expertise to analyze all documentation to help you make an informed decision.
In Ontario, a second mortgage on a property title will appear as a separate charge on that property but does not change the first mortgage. Since there is higher risk to the lender, taking a second mortgage typically has a higher rate of interest.
A second mortgage can allow homeowners to use the equity that they have in their home. If your first mortgage has high pre-payment charges, or a low rate, a second mortgage can be a better option than a refinance. This option may also be best for those who are self-employed, have bad credit, or for those in need of fast cash.
For many people, carrying debt on high interest credit cards, student loans, car loans or personal loans is a reality. But it doesn’t have to be. (more…)