After your final mortgage payment, remember to update your homeowner’s insurance, confirm the property title is in your name, and plan how to use your extra funds. […]
Read More… from What Happens When You Pay Off Your Mortgage in Canada?
Being late for a mortgage payment is different than missing it entirely.
Many institutions offer up to a 15-day grace period (aim within 10 days for extra security) if you’re late with your payment. But don’t become reliant on this leniency.
Missing a mortgage payment completely means you’ve missed one payment in your cycle. So, when you owe 12 monthly payments a year but only make 11, you’ve missed one payment.
The consequences for missing a mortgage payment vary but might include penalties such as:
Lowering your credit score
Higher fees
Possibility of losing your home […]
Read More… from What Happens if You Miss a Mortgage Payment?
If you’re wondering whether homeownership is still within reach with less-than-perfect credit, the good news is that it’s possible! While challenges exist, there are ways to overcome them with the right support, preparation, and information. […]
While owning your own home is freeing and exciting, a mortgage is a massive responsibility. However, it’s a responsibility that shouldn’t leave you stressed or financially unstable. Simply by understanding what you can afford, paying off your mortgage is just as routine as any other bill you may have. But what if you’re looking for […]
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