Many newer mortgage borrowers in Canada have never seen mortgage interest rates with any rate starting at 4% or higher. For others, you might recall when mortgage interest rates hit a staggering 21% in the early 1980s. This article is directed to anyone who has a mortgage renewal coming up in the next 18 months and is worried about how much higher their replacement mortgage payments will be, plus strategies to reduce the payment and to manage the stress.

Death of a loved one brings about many changes not to mention strong emotions. Often the kids are thrust into uncharted territory when a potential property inheritance or residual debt is involved. Whether a cottage on the lake, farm land, or a house in the city, this article is about how to best view the budding situation, dissect the issues, and how mortgage financing can potentially help out. It can apply where there is one party to many.

As a senior, is your home equity really the “sacred cow” you have grown up to believe?

Besides falling, the number one fear for many seniors is not having enough money to pay their day-to-day living expenses as they grow older. For those who still own homes, likely 90% of your net worth is the equity in your house while investments, RRSPs and TFSAs will make up the last 1/10^th.  The fear is real - only 30% of seniors have some sort of pension plan to fall back on, and CPP/OAS pays only about $1200/mo.