What are the best debt repayment strategies? From the snowball method to consolidation loans, read on to learn more about your various options.
Sell and leaseback programs, which allow a homeowner to sell their house but continue living in it under the new owner, give Boomers the chance to tap into equity and stay in the family home. Sounds like a win-win situation – but is it a good idea?
Have debt you just can’t seem to pay down? Check out our 12 Months to Being Debt Free series! January kicks off with prepping your pay-off plan. Read on to learn more.
Is it really worth taking out debt for home renos? Lured by reality TV and low interest rates, Canadians are taking on more reno projects than ever.
The CMHC is the biggest provider of mortgage insurance in Canada, but recent efforts have focused on reducing their involvement with high-risk mortgages. The Crown Corporation reported $14-billion decline in insured mortgages in their 2014 annual report. Great news for taxpayers – but what does that mean for prospective borrowers?
There seems to be a lot of confusion out there among current homeowners over their Home Equity Line of Credit (HELOC) options: what exactly are they and when should they be used? While you may be familiar with the idea of tapping into your home’s equity in a pinch, the truth is that a HELOC …
CREA (Canadian Real Estate Association) has once again revised its forecast for Canadian housing market activity as November numbers show sales are down 11.8 per cent from 2011.
Could you use a little extra cash? In today’s tough economy, who couldn’t? This week on Money Wise, we’re exploring an increasingly popular method of borrowing – a home equity line of credit. The problem – many Canadians don’t know what they are, and with household debt levels at record highs, HELOCs can add even more fuel to the fire.
The concept behind a Home Equity Line of Credit (HELOC) is simple – leverage your home in return for a hefty line of credit to draw from. However, it’s the underlying challenges associated with HELOC variable interest rates that makes a HELOC a tool best reserved for the thrifty and financially astute.
Should you take out a HELOC on your home to fund your retirement plan? For some, it’s a good option – but understand the interest and pay back realities.