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
How Much Does Mortgage Insurance Cost?
As a first-time homebuyer, chances are you’ve never heard of mortgage default insurance. More often than not, it isn’t until you’re sitting across from your lender that you learn about this expensive requirement. You see, in order to qualify for certain types of mortgage products in Canada you are required to be “insured”. While most insurance products are designed to … Read More
Is Your Home Underinsured?
Did you know that a large number of Canadian homes are underinsured? The following are six important steps to make sure your home is protected against the unexpected. 1) Know Your Policy And What it Covers Your policy type should reflect your type of home and your needs. It’s important that you review your policy basics and have a good … Read More