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Archive for the Second Mortgage Category

A Second Mortgage That Isn’t a Mortgage? What’s the Deal?

A Second Mortgage That Isn’t a Mortgage? What’s the Deal?

With the most recent changes to mortgage lending/borrowing rules, those established by the Canadian Mortgage and Housing Corporation, coupled with a higher interest rate, many Canadians looking to refinance their mortgages are finding it much harder to do so than originally anticipated. While a second mortgage offers…

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How Much Are We talking Here? Reviewing Second Mortgage Closing Costs

How Much Are We talking Here? Reviewing Second Mortgage Closing Costs

The GTA housing market has been red hot for a few years now and homes have increased so much in value that many homeowners are finding themselves house rich, but cash poor. This is because Canadian families are carrying more debt than ever and most of their…

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