How a Mortgage Broker Can Help Stop a Power of Sale
A mortgage broker can be a critical ally if you’ve missed a mortgage payment in Ontario—especially if you’re at risk of default or already facing a Notice of Sale. Here’s how they can help at each stage:
You Missed Your Mortgage Payment. Now What?
In Ontario, if you’re late on your mortgage payments, the consequences can escalate over time—but you typically have multiple opportunities to catch up or work out a solution before losing your home. Here’s a clear breakdown of what happens:
Step-by-Step Guide: Choosing the Right Loan as a Homeowner
As a homeowner you can both build and access equity of your home. This article provides a comprehensive guide on how to. It’s important to evaluate all options to minimize any risks and find the most economically sound option.
What is a Second Mortgage?
A second mortgage is a type of loan that is secured against your home in addition to your primary mortgage. It allows you to borrow money using the equity you’ve built up in your home, without having to refinance or sell. Because it’s “second” in priority to your original (first) mortgage, it comes with slightly higher risk for the lender—and often higher interest rates.
Home Equity Loan & HELOC: a Detailed View.
Both products allow you to access the value built up in your home — but how you receive and repay the funds, as well as the flexibility, varies greatly.
How to Get a Reverse Mortgage: A Step-by-Step Guide
Reverse mortgages can offer financial flexibility in retirement, but the process is a bit different from a traditional mortgage. If you’re exploring this option, here’s a clear, step-by-step guide to help you understand what’s involved and how to prepare.
10 Things to Know Before Getting a Reverse Mortgage
Whether you’re considering a reverse mortgage for extra income, home renovations, or medical expenses, here are 10 key things you need to know before moving forward.
Reverse Mortgage: Frequently Asked Questions
All frequently asked questions about Reverse mortgage in one place.
Reverse Mortgage Alternatives
While a reverse mortgage can be a good solution for some, it’s important to compare it to other options like a HELOC, refinancing, downsizing, and renting part of your home.
Reverse Mortgages in Canada: Risks and Benefits
For Canadian homeowners aged 55 and older, especially those living in Ontario’s high-value housing markets, a reverse mortgage can be a powerful way to unlock home equity without selling their property or taking on monthly payments. While this financial tool can provide much-needed cash flow in retirement, it’s important to understand how it works and who it’s best suited for.