Watch this 1 minute video to learn whether the proceeds from a reverse mortgage are taxable or not.
We often hear that a recession is coming. You may be wondering, why do we worry about recessions so much? Let’s gain a better understanding of recessions by looking at what a recession is and what does it mean for the average Canadian.
Better still, so far as the US government is concerned, there are no restrictions for Canadian citizens wanting to purchase real estate in America. With that in mind, here’s what you should know about buying and financing an investment property in the US.
After flat and falling interest rates for many years, 2022 has been the year of rising interest rates. We saw prime rates go up for the first time in almost 4 years. Fixed rates are going up as well.
Let’s look at what rising interest rates means for consumer in the Canadian mortgage market.
A favourite watercooler topic of the Canadian media is whether a real estate correction is upon us. In this article we look at three signs that a real estate market correction may or may not be happening.
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.
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.
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.
Are you trying to decide between a reverse mortgage and HELOC? Here are some things to consider.
Is now the right time to apply for a reverse mortgage? Here is when taking out a reverse mortgage can make the most sense.