Becoming a first-time home buyer is a truly exhilarating experience regardless of your age or how long you’ve waited to get here. It’s an important milestone that needs to be celebrated properly! However, if you’re about to buy a home in BC and have started prospecting the market, you’ve probably seen how ruthless the housing market can be
A Foreclosure is a legal action that a lender can take if a person or company who borrows money using a mortgage stops making payments on the mortgage or violates any terms of the mortgage like “example” outstanding property tax or fire insurance policy that elapses etc.
British Columbia works on the modified Torrens land title system that “guarantees” your title. It is questionably one of the best systems for land registration. This system is very accurate in determining who the owner is and what registered charges are against the property. The province assurance fund also pays financial compensation in appropriate cases where the possibility of lose of title through fraud occurs.
Despite the ongoing pandemic, the vaccination progress and overall stable medical statistics have created optimism regarding Canada’s economy. And the real estate market is not the exception! More so when talking about mortgage renewal rates.
So, how does this affect Canadian homeowners about to renew their mortgage agreement with a federally regulated financial institution?
Usually, when people file a consumer proposal, it is to assist them with debt consolidation by restructuring it all into one manageable payment. Once they’ve done this, homeowners usually see significant cash flow relief but still have this monthly bill looming over them.
If you are living in British Columbia and are looking for debt load relief by paying out your consumer proposal early, then keep reading!
The purpose of a depreciation report is to give a standard to follow to all strata and strata companies in BC. This helps condo purchasers and mortgage lenders have a clearer view of the building’s health and the common property associated with it.
In this article, we’ll discuss whether or not depreciation reports are mandatory in British Columbia for purchasing a strata property.
Choosing between a line of credit vs a mortgage is simple once you understand how each one of them works. In this post, we’ll explain the differences between the two most popular home equity loans homeowners can choose from, so you can make an informed decision.
We hope this article will help clarify any questions you might have and give you a roundup on the basics of home equity lines of credit vs mortgages.
Despite high real estate prices, ineffective regulation, and a lack of unbiased info, Canada continues to attract a large volume of real estate deals even following the Covid-19 pandemic. But with so many buyers investing in a wide range of residential, commercial and industrial properties, can Canadian non-residents get a piece of the pie too? In today’s blog we’ll discuss what mortgage options non-resident buyers have in BC’s current housing market.
Lack of access to funds is one of the main obstacles new entrepreneurs face. And although there are quite a few options available for those starting a new business, the loan terms that come with the money borrowed can sometimes be tough to accept. In this post, we’ll look at what self employed loans are and how one can help you start or grow your business.
Is there an easy way to get a home equity loan with bad credit? Will a low credit score allow you to pull equity out of your home and use it for home improvements, a family vacation or your daughter’s wedding? The answer is yes! Click to learn more.