A second mortgage is a mortgage that is taken out against a property that already has a home loan (mortgage) on it. Generally people take out second mortgages to satisfy short-term cash or liquidity requirements, have an investment opportunity or to pay off higher-interest debts (such as credit cards and student loans) that a second mortgage might offer.
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Economic Insights from Dr. Sherry Cooper
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Preparing for the Spring Market
According to the Canadian Real Estate Association, the Spring market is anticipating a drop in home prices edging down approximately 6% from 2022, putting the average home price at $662,103 in 2023. The downward trend stems from rising interest rates and continued uncertainty in the marketplace.
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Fraud Awareness Month
Did you know? March is fraud awareness month in the mortgage industry, which makes this is a great time to talk about title insurance!
As our insurance experts, FCT is a leading provider of title insurance and has some helpful information for you:
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Economic Insights from Dr. Sherry Cooper
Even bond traders and economists are stumped about what the next few years will bring. The repercussions of a global economy that stopped suddenly, shed millions of jobs and initially contracted 30% only to rebound in a flash on the back of free-money government programs are still being felt.
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Family Day Ideas
For those who celebrate Family Day, we thought we would highlight some ideas for special things you can do with your loved ones, and remind them how much you care!
From crafts and cooking to volunteer work or exercise classes, below are a few ways you can celebrate Family Day this year:
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What to Know about Second Mortgages
A second mortgage is a mortgage that is taken out against a property that already has a home loan (mortgage) on it. Generally people take out second mortgages to satisfy short-term cash or liquidity requirements, have an investment opportunity or to pay off higher-interest debts (such as credit cards and student loans) that a second mortgage might offer.
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A Guide To Solving Commonly Faced Mortgage Issues
Getting a mortgage is a great way to raise capital, and if you meet the criteria, a somewhat sure way to find significant sums of money when you need it. This said, there are many roadblocks, and with increasing regulations, qualifying for a mortgage can be a challenge. If you are new to the mortgage industry, it can be even harder to figure out the system and find the assistance you need.
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A Comprehensive Checklist For Buying A New House
Putting the finishing touches on buying your dream home requires your diligence. This comes with identifying a budget, deciding on a location, finding a competent mortgage broker, negotiating the price, taking care of the paperwork, and other activities, which are all crucial parts of the home-buying process.
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How To Prepare For Shopping For A Home And A Mortgage
In today’s competitive real estate market, homebuyers need all the help they can get in finding the right home at the right price. And once you find your ideal house, you want to quickly present a winning offer and close on it fast. Finding the right mortgage broker and mortgage products to help you purchase your home is a really important step.
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How To Prepare Your Home For Sale On A Budget
Like every home seller, you will want to sell your home quickly to get the maximum buck. But in order to do so, you need to professionally prepare your home to get your potential buyer to notice. Gasp! That means spending a boatload of money!
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Common Challenges That New Homebuyers Go Through
Buying a house is not an easy task. Starting from searching for the best location and the right property to obtaining finances to secure the place, there are many problems a home buyer faces before and after buying their dream house. Additionally, some of these challenges could end up being quite expensive if not addressed early. So to help you out, Nola Stairs has explained how to solve some common challenges that new home buyers go through.
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Five Tips To Help You Negotiate Your Home Purchase
There were many challenges when getting a decent and established mortgage, especially during a pandemic. With the number of people losing their jobs and the general changes taking place, people were uncertain about the future. While there was some security and a basic understanding of future finances and making payments before the pandemic, people were no longer going through the same processes.
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Five Tips To Ensure Your Mortgage Application Is Approved The First Time
As you begin your journey towards homeownership, the first big step you need to take is finding the right mortgage to finance your dream home. However, mortgages can be challenging and overwhelming, especially if this is your first one. There are various factors involved before being eligible for a mortgage, so you’ll need a professional’s help to enable you to make the right choices throughout the mortgage process.
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A Resource Guide To Mortgages
As mortgage professionals, we need to keep up to date with the latest trends and industry news while staying connected to our peers. Therefore, to stay current, I use various online and offline sources to understand effective tools which help to foster business relationships. These tools allow me to empower clients with the most up-to-date solutions.
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Purchase Plus Improvement Mortgage By Nola Stairs
In this day and age, finding the home of your dreams with everything you are looking for is really easy. But in some cases, these properties may need a bit of TLC to match your needs perfectly. To provide the place with the TLC it needs, it’s going to cost you money and a significant amount. If you need to redirect your savings towards this, I suggest that you look for a Purchase Plus Improvements (PPI) mortgage.
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A Glossary Of Terms Used By Realtors And Mortgage Brokers
Every industry has its own language and terms. These words and phrases can be confusing to anyone who is not part of the daily operations of a specific industry, and the mortgage and real estate business is no exception.
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When Will Prices Soften Within the Canadian Real Estate Market?
Original Article Source Credits: REMAX , https://blog.remax.ca/
Article Written By: NA
Original Article Posted on: May 11th, 2021
Link to Original Article: https://blog.remax.ca/when-will-prices-soften-within-the-canadian-real-estate-market/
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Improved purchasing power could boost recovery prospects
Original Article Source Credits: MortgageBrokerNews.ca , https://www.mortgagebrokernews.ca/
Article Written By: Ephraim Vecina
Original Article Posted on: 14 May 2021
Link to Original Article: https://www.mortgagebrokernews.ca/news/improved-purchasing-power-could-boost-recovery-prospects-356111.aspx
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Preparing to get a mortgage
Original Article Source Credits: Government Of Canada , https://www.canada.ca/
Article Written By: NA
Original Article Posted on: 2020-12-29
Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/preparing-mortgage.html
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Mortgage Pre-Approval: What Lenders Want To Know
Original Article Source Credits: REMAX , https://blog.remax.ca/
Article Written By: NA
Original Article Posted on: October 9th, 2020
Link to Original Article: https://blog.remax.ca/mortgage-pre-approval-what-lenders-want-to-know/
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