Steven Miszkowicz asked: If you have used your IRA, or other self directed retirement plan, to purchase an investment property the mortgage loan you obtain must be NON-RECOURSE. What does this mean? A traditional loan provides for “recourse” to the borrower. In other words, if, for whatever reason, you don’t make the mortgage payment the [...]
The House Team Of Mortgage Intellingence asked: When it comes to mortgage financing, more and more Canadians are choosing to work with a professional mortgage broker. According to a recent study by the Canada Mortgage and Housing Corporation (CMHC), 23 per cent of mortgages written were arranged through a broker.Canadians are just catching up with [...]
Louie Latour asked: If you are considering mortgage refinancing with your bank, you should read the following discussion first. Banks fall into a special category of mortgage lenders and routinely charge Service Release Premium (SRP) for their loans. What is SRP and why should you avoid banks altogether for your next mortgage loan? The answer [...]