Showing category "Mortgage Tips" (Show all posts)

Reverse Mortgage in Canada Misconceptions. Myths and Facts of a Reverse Mortgage in Canada

Posted by Inessa Semerenko on Thursday, January 26, 2012, In : Mortgage Tips 


Myth: The lender owns your home.

Fact: You remain the owner of your home. All you are required to do is pay your property taxes and any other maintenance fees required as well as maintain your property and be sure to have proper fire insurance.


 
Myth: You will have to pay taxes on the money you get from the Canadian Home Income Plan or any reverse mortgage in Canada.

Fact: In Canada the money that you receive from the Canadian Home Income Plan or any reverse mortgage in Canada does not qualify a...

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Top 10 Ways to Improve Your Score

Posted by Royalton MFS Group on Wednesday, January 11, 2012, In : Mortgage Tips 

10. Learn what your current FICO® Credit Score is and what appears on your credit report. Score Power® gives you immediate access to your credit report and includes your current FICO score.

9. Don't open new credit cards that you don't need just to increase your available credit. This approach could backfire and actually lower your score.

8. Try to keep your total account balances as low as possible. High outstanding debt may negatively affect your score, as you have a greater chance of missi...

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Mortgage Top 10 Tips

Posted by Royalton MFS on Thursday, December 29, 2011, In : Mortgage Tips 

Whether you are a first time home buyer, renewing your mortgage or looking to refinance, finding the best mortgage product can be a difficult process. We’ve pulled together a few top tips that will help save you time and money as you shop for your mortgage.

 

1. Do your homework

If you already have a mortgage, dig out your documents and find out more about the product you currently have. It’s not enough to just know what your monthly payments are, find out what rate you are on, when it’s u...


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