Tapping home equity is still an uncommon idea for a lot of people although this has been increasingly becoming the norm in the past decade with the increase in home values in Canada. This can be both good and bad. It can be good because not everyone will be wise about spending money they can […]
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A second mortgage is unlike a first mortgage or financing a mortgage. With a second mortgage, the lender will have to evaluate the equity built into the home before approval. Less significance is placed on other factors such as credit score and income source whether you will be getting a second mortgage from private lenders
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There are so many debt consolidation options in Canada. There are about 8 that are available for everyone with their own sets of pros and cons depending on someone’s needs. In today’s article, we will talk about the most popular ones especially for individuals who are self-employed or may have a less-than-stellar credit score. Use
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Do you know that just by owning a home, you are significantly wealthier than someone who makes the same but is renting? This is because any money you pay for your mortgage goes towards increasing the value of your home equity. Your home equity is essentially your deposit or ‘forced savings’ in the form of
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Debt consolidation has many benefits, one of which is avoiding paying huge interest rates. With debt consolidation, paying debt is made much easier because instead of having to remember paying a few bills each month, you’ll only have to remember paying one. With these said, is it worth it to refinance mortgage for you to
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Getting into debt is unavoidable these days. Although most people wish that their debt will always be within their control and remain manageable, circumstances can change to make managing finances a lot more challenging. This is why one of the most popular types of home equity loans is getting a HELOC. A HELOC is popular
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People have been using their home equity as a source of emergency funds or as a backup savings plan for years, but not a lot understand how it really works. If you haven’t tapped your home equity yet, 2019 might be the year to consider tapping your home equity for huge bills, consolidate loans, or
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Do you know that about 3 million Canadians have an existing home equity line of credit but survey says that half of us don’t truly understand how they work? According to survey, 35% of people in Canada have a home equity line of credit and 19% admitted that they borrowed more than they intended. Rising
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Getting a loan when you have outstanding debts, been refused for a credit card, had past issues with loan payments, or declared bankruptcy can be very tricky. However, it is possible to still be approved for a loan because bad credit does not only affect you but also more than a million other Canadians. Bad
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Debt consolidation loans are increasingly becoming popular, but what benefits can you get if you decide to apply for a debt consolidation loan in Canada? Debt Consolidation Loan A debt consolidation loan is a type of loan that an individual with a lot of various loans can apply for in order to convert multiple loans
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