Planning to Retire With a Mortgage? You’re Not Alone

EditorAbout Mortgage Brokers, Agricultural Mortgages, Commercial Mortgages, Credit Rating, FamilyLending.ca, Financial Tips, General Interest, Household Budget, Mortgage News, Mortgage Term, MortgageCanadaCalculator, Real Estate Advice

Canadian’s won’t be retiring their mortgage debt anytime soon, according to a recent survey by the Bank of Montreal. Data shows that more than half (51%) of Canadian homeowners plan to carry their mortgage into their retirement. But there’s more to this figure than meets the eye, says Phil Soper, chief executive of Royal LePage Real Estate Services. Soper argues that … Read More

Reverse Mortgages on the Rise

EditorFamilyLending.ca, Financial Tips, General Interest, Household Budget, Life Insurance, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

Aging Canadian’s in need of a financial boost are cashing in record numbers, according to data released earlier this month. A report released by the parent company of HomEquity Bank, the nation’s sole provider of reverse mortgages, states that a record number of reverse mortgages (with a rough total worth of $67.2 million) were closed in the fourth quater of … Read More