Not Paying Your Mortgage for 3 Months Missing a mortgage payment once is stressful. Missing three months in a row can feel terrifying. Collection calls start, letters arrive in the mail, and you may wonder: “Am I going to lose
The Critical Differences Between a HELOC and a Home Equity Loan Every Canadian Homeowner Must Know When you’ve built up equity in your home, it can feel like you’re sitting on a powerful financial tool — and you are. Two
A personal loan secured by your home allows Canadian homeowners to borrow large amounts at lower interest rates by using their property as collateral. This type of financing, typically offered as a home equity loan, home equity line of credit
1) What These Options Actually Mean (Plain-English Overview) Debt consolidation means rolling multiple high-interest debts (credit cards, lines of credit, personal loans) into one new loan with a lower interest rate and a single monthly payment. If you own a
1) What Is Home Equity (and Why It Matters) Home equity is the difference between your property’s market value and the balance of any mortgages or liens secured against it. As you pay down your mortgage and/or your home value
If you’ve completed (or are completing) a consumer proposal and you’re wondering whether homeownership is still on the table—good news: you can absolutely qualify for a mortgage after a consumer proposal. The path is different, and the rules are tighter,
Why Credit Rebuilding Is Different for Homeowners As a homeowner, you already have secured debt (your mortgage) and often have available equity. That opens strategies renters can’t access, like consolidating high-interest cards into a lower-rate mortgage refinance, HELOC, or second
Wage garnishment in Canada happens when creditors or the Canada Revenue Agency (CRA) legally deduct money from your pay cheque to recover unpaid debts. For homeowners, this can make keeping up with mortgage payments harder and create serious financial strain.
A Helpful Guide on Steps to Take the Moment You Receive a Foreclosure Notice in Ontario First, Understand What You Received (In 20 Minutes or Less) In Ontario, most lenders use Power of Sale rather than full foreclosure. Your envelope
What Is a Reverse Mortgage in Ontario? A reverse mortgage is a loan secured against your home that allows Ontario homeowners aged 55 or older to convert a portion of their home equity into cash, with no required monthly mortgage
7 Ways Debt Could Impact Your Mortgage Renewal (and How to Fix It) Debt doesn’t have to derail your plans—but does having debt affect your mortgage renewal in Canada? The short answer is yes. From credit-card balances to car loans,
Vendor Take-Back Mortgages Ontario: 2025 Guide A Vendor Take-Back (VTB) mortgage is when the seller acts as the lender for part of the purchase price. In Ontario’s tight, rate-sensitive market, VTBs can bridge appraisal gaps, help buyers qualify, and help