1) What is a Reverse Mortgage in Canada? A reverse mortgage is a loan secured against your primary residence that allows homeowners aged 55+ to access a portion of their home equity as tax-free funds. Unlike a traditional mortgage, you
Introduction If you’ve entered into a consumer proposal in Canada, you’re not alone. Thousands of Canadians use this government-regulated debt settlement process each year as a way to avoid bankruptcy and get their finances back on track. But if you’re
Feeling anxious about your mortgage is completely understandable, especially when bills are rising and income feels tight. If you’re worried you can’t pay your mortgage in Canada, this guide walks you through what typically happens, your rights, and the practical
Second Mortgage Exit Strategy (Durham Region): Get Back to an A-Lender in 6–18 Months If you own in Durham Region Oshawa, Whitby, Ajax, Pickering, Clarington, Uxbridge, Scugog, or Brock—and you’re in a second mortgage or private first, you’re not alone.
Life happens. Sometimes unexpected expenses, job changes, or financial challenges leave you wondering if you can skip a mortgage payment. In Canada, some lenders allow this through special features, but skipping a payment comes with important consequences. Your balance grows,
Mortgage Co-Signer vs Guarantor in Canada: Expert Playbook to a Smarter Approval in 2025 Canadian homeowners and buyers are leaning on help more than ever, especially first-timers, self-employed borrowers, and anyone rebuilding credit. Two common ways to strengthen an application
Many Canadian homeowners wonder if they can access funds from their home value equity without refinancing and without the stress of breaking their mortgage. The short answer is yes, you can use equity without refinancing. Whether you’re planning renovations, covering
Bank of Canada’s Important Decision: What a Sept 17th Rate Cut or Hold Could Mean for Mortgages & Housing The Bank of Canada releases its next interest-rate decision on Wednesday, September 17, 2025 at 9:45 a.m. ET, followed by a
Breaking a Fixed Mortgage in 2025: When Paying the Penalty in Ontario Actually Saves You Money In 2025, it can be smart to break a fixed-rate mortgage in Ontario if the total savings from a lower rate over your remaining
Ontario’s 2025 Mortgage Reset: How Rate Cuts, 30-Year Insured Amortizations & a Cooler Market Affect Your Next Move Short version: Ontario’s housing market has more choice than it did at the peak, mortgage rates have eased from recent highs, and
The Ultimate Guide: 3 Powerful Levels of Mortgages Every Canadian Homeowner Should Know When it comes to securing financing for a home purchase, refinancing, or debt consolidation, not all mortgages are created equal. In Canada, borrowers typically navigate three levels
Struggles of Renovation Mortgage Loans and Equity Access in 1. Rural Communities and 2. Small-Town Canada For many Canadians, owning a home in a rural community or small town offers peace, In rural and small-town Canada, accessing renovation mortgage loans