Tag Archives: Mortgages

This is a guest post by the experts at Ratehub.ca When you need money to consolidate debt or renovate debt, sometimes a home equity line of credit (HELOC) can come in handy. A HELOC is a loan that’s secured by the equity in your home. The equity refers to the… Read more

Moneyproblems.ca is about finding experts who can help you manage your way out of debt problems with great information and advice. Today we bring you a guest article from the experts at Ratehub.ca. If you’re planning on buying a home, but are unsure about how large your mortgage should be and what it costs to run… Read more

This is a guest post by the experts at Ratehub.ca As mortgage rates have come down this year because of a couple of Bank of Canada rate cuts, you may be wondering if it’s time to consider refinancing your mortgage. Reasons For Refinancing There are three main reasons why you… Read more

The Bank of Montreal slashed 5-year mortgage rates today to a low of 2.99%. It looks like our Canadian banks are thinking about starting a bidding war to gain your business and boost their mortgage portfolios. Before you jump at these ultra low rates, consider the long term impact on… Read more

Question: I recently closed a business and there was an outstanding amount of $50,000 owed to a bank. We had tried to negotiate a debt settlement payment schedule with them, as we have excellent credit and did not want anything to tarnish this. We had agreed to a payment schedule,… Read more

Question: My husband & I own a house jointly. The house is worth $570,000 and the mortgage  is $420,00. While my husband and I each  have $75,000 equity, I owe $69,000 and my husband owes $63,000 in credit card debt. We make a combined income of $80,000.  If we file… Read more

You owned a house that went into foreclosure or a forced sale and your mortgage was insured by one of three Canadian Mortgage insurers: Canada Mortgage and Housing Corporation (CMHC), Genworth Canada or Canada Guarantee. The sale proceeds were not enough to pay the mortgage and you now have a… Read more

Questions: At what point can I get a mortgage during a consumer proposal? If so, what are the (ball park) interest rates usually offered? Would a refinance be better if I currently own my home? Do you think my current lender would renew my current mortgage if I have recently… Read more

Question: My mom owns her home (no mortgage) but has a line of credit owing with the house as collateral. If she was to declare bankruptcy would she need to sell the house to pay off the line of credit owing or would it be considered a debt and be written… Read more

Question: Is it possible to renew or refinance a mortgage to the bank while you are in a consumer proposal, debt management plan or even bankruptcy? Would I need a co-signer for refinancing or renewal? Mortgage Renewal and Debt Proposals Since a consumer proposal or debt management plan can last… Read more