Your Mortgage Financing Can Support Your Home Renovation
Feb 03 2020
Your mortgage term is nearing its end and you've received a renewal offer from your existing mortgage provider. Do you simply sign that mortgage renewal and carry on? You certainly can; however, we suggest you get a second opinion to ensure that what you're being offered is a great option and, more important, a solution that fits your future needs and goals.
Jan 30 2020
More and more Canadians worry that they will continue working and never officially retire. According to data published for Canada 150 celebrations, about half of Canadians who are working past the age of 60 choose to do so - but the other half must continue to work to meet their essential expenses. And in the 2019 Sun Life Barometer survey, 47% of working Canadians of all ages believe they are at risk of outliving their retirement savings.
Jan 27 2020
Mary, an 85-year-old widow, had fully paid for her townhouse but only received a limited monthly income unless she took in students each year. She wanted to travel and quit renting her property, so she came to see us. Auxilium secured a reverse mortgage for Mary. She now has $250,000 in cash that supplements her retirement income and gives her the freedom to travel.
We usually associate zombies with Hallowe'en, but when it comes to old debts they could revive when you least expect it. More and more Canadians are facing record-high levels of debt, due in part to extremely low interest rates. If you've passed the point when budgeting will help you get your finances back on track, chances are zombie debt has caught up with you.
Jan 22 2020
It can be an overwhelming experience to find yourself in debt, with your credit sliding from bruised to bad. If you want to make a major purchase, like buying a house, it might feel as though that dream is slipping away. While it can be difficult to find your own way back to a strong financial situation and repair your bad credit, there are many solutions available to you.
- What is a credit score and how do lenders use them?
A credit score is a three digit number calculated from your data-rich credit report and is one factor used by lenders to determine your creditworthiness for a mortgage or loan. Your score can affect whether or not you are approved, as well as what interest rate you are charged.