Executive Summary. A reverse mortgage allows homeowners to borrow against their primary residence, without making any ongoing payments; instead, interest simply accrues on top of the principal, and most commonly is not repaid until the homeowner either moves and sells the home, or when it is sold by heirs after the original owner passes away.
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New Mortgage Rules 2018: What You Need To Know Posted at 09:45h in Blog by CapitalSiteAdmin 0 Comments If you own a home in Canada, are currently house-hunting, or are looking to buy sometime in the near future, you’ve no doubt been following the news closely for the past few months.
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Using a mortgage broker to help you finance a new home is still a good option. Here are some national firms you should consider. If you’re thinking of buying a home in the near future, chances are good that you’ll need to obtain a mortgage. When doing so, you have two basic options – deal with banks and other lenders directly or hire a mortgage broker to do the hard work.