What is the best way to borrow money against your home?
Here are the most popular ways to borrow money against your home equity in Canada.
How long does it take to get a small business loan?
You can obtain a business loan in Canada in as little as 24-48 hours if you have all your documents prepared and meet all the eligibility requirements.
How to build credit for your kids in Canada
During college years, this is the best time to get your kids started on the process of building credit. Once they graduate, credit generally makes getting started easier. Even if they get a good job, it’s going to be at least one year before banks and landlords take them seriously as a responsible adult. There are some things you can do to help them start the process.
What You Should Know About Getting a Mortgage When You’re Self-Employed
When you’re self-employed, dealing with fluctuations in your income can be tough. What’s even tougher in some cases however, is trying to get a mortgage without a regular paycheque. Here’s what you need to know about getting a mortgage in Canada when you’re self-employed.
The Principles of Interest
Two basic parts of most types of credit account payments are principal and interest. Principal is the amount borrowed, which can mean the price of an item (like a car or house) or the amount of credit used (as in credit cards and credit lines). Interest is the cost the lender charges the borrower to extend credit, which is where some borrowers get confused or pay more than they bargained for.
Removing a Charge-Off From a Credit Report
Creditors use charge-offs as a last resort when a borrower stops paying a credit card, personal loan, or other debt. At that time, the debt is moved to the creditor’s bad credit ledger and the charge-off is reported as a derogatory remark on the credit file. Although a lender may write off a debt, it doesn’t end there for the borrower. A charge-off does not make the debt disappear. Removing a charge-off from a credit report is possible but there are no shortcuts in the process.
How to Repay a Reverse Mortgage
Reverse mortgages may have the word “mortgage” in the name, but unlike a traditional mortgage, you aren’t required to make any regular payments during the term of the loan. You do have to pay back the lender eventually though. Here are some of the ways you can pay back a reverse mortgage lender.
Reverse Mortgage vs. HELOC: When Each One is Best
Are you trying to decide between a reverse mortgage and HELOC? Here are some things to consider.
When is the Right Time to Take Out a Reverse Mortgage?
Is now the right time to apply for a reverse mortgage? Here is when taking out a reverse mortgage can make the most sense.
Pros and Cons of Reverse Mortgages
Are you considering a reverse mortgage? Here are some of the pros and cons.