Yes, you will be able to obtain a mortgage after declaring bankruptcy.
A mortgage is essentially a very large loan that you take out in order to buy a house. As with any loan, the lending party (usually a bank), will look at several factors in order to determine the amount of the loan you’re allowed and the interest rate … Continue reading
Mortgage refinancing may come with great monetary benefits such as lowering the interest rate on the mortgage payment and even avoiding high interest rates on other loans. However, when careful consideration and analysis is overlooked, it may also add to the financial burden associated with mortgages, leading to a never-ending debt cycle.
Here are some factors to consider when refinancing … Continue reading
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 and shake up your financial situation. You may be able to keep up with the bills for … Continue reading
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 payment so you can own a home – and you can own it now.
In Canada, mortgage insurance is … Continue reading
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 all the student debt. This is especially bad news for people who are trying to purchase their … Continue reading