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Everything You Need To Know About Debt Consolidation

Sometimes when an individual is in debt to different sources (like having two credit cards from different companies, a student loan, and a mortgage) it can become necessary to take out a single loan in order to satisfy them all. This is called debt consolidation,...

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Mortgages 101

At its most basic a mortgage is the loan one would take out with a financial establishment in order to buy a house. Most Canadians with a mortgage take out these loans to borrow the money needed to buy their home. A business may even take out a mortgage...

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How to Avoid Foreclosure

Something could always happen, you could get sick, your work hours may be cut in half, or you may have to take on the increasingly expensive care of an elderly parent. Something totally unexpected and financially overwhelming may knock you out of balance...

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Low Down payment Loans with First and Second Mortgages

There are many different types of mortgages. The two basic types of mortgages are Conventional Mortgage and High Ratio Mortgage. If you can’t afford the 20% down payment for a conventional mortgage, a High Ratio Mortgage allows for a smaller down...

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Paying off Student Loans? You Can Still Qualify for a Mortgage

The more educated you are, the more likely you are to be well informed, well prepared to embark on an ambitious career . . . and probably knee deep in student debt. Statistics show that after graduation, most people will take several years to pay off...

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What is a Home Equity Line of Credit Loan (HELOC)?

A Home Equity Line of Credit (HELOC) works much like a regular line of credit. You can borrow money whenever you want and up to the predetermined credit limit. You can also pay the money back and borrow it again when needed. Some homeowners take out...

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Second Mortgages versus Home Equity Lines of Credit

A second mortgage is a loan with a second-priority claim against a property in the event that the borrower defaults.  Interest rates on home equity loans and secondary mortgages are often much lower than those on credit cards and consumer loans. By...

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Does Your Credit Score Matter?

The so-called FICO credit scores were developed by the Fair Isaac Company, a California company that specializes in statistical scoring models. The credit score is a single number ranging from 350 to 900. The majority of lenders and even employers use...

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Avoiding Property Foreclosure

The Canadian government imposes property taxes on homeowners and businesses to finance county and municipal costs. Property taxes are meant to pay for services such as snow clearing, police and fire personnel. They help fund public schools and other...

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The Difference between Fixed Rate and Variable Rate Mortgages

For many people, home ownership is the most important asset on their financial portfolio. How to finance the purchase of a home is among the most significant economic decisions households will face. The typical choice clients have to decide on is whether...

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