I read this article today. Yet another story on a potential pitful of these charges. I myself have had a couple clients fall in to this exact story. In what brokers hope is a precedent, media pressure appears to have saved a borrower from the hefty discharge costs associated with a collateral mortgage. “We asked […]
Collateral Charge Mortgages
Collateral Charge Mortgages and Visa’s
Some may think that a mortgage and a Visa would not be directly related. One being ‘good debt’ and the other being ‘bad debt’. However, in the banks world they mean the same thing and can come back to harm you in a great way. A collateral charge mortgage have a couple reasons why they’re […]
Collateral Charge Mortgages
CBC did a follow up to it’s report a little while back I had blogged about. Now I’m not saying collateral charge mortgages are the worst product out there, I’m saying that they are not for everyone and if you had a choice to not have one, then don’t as it can restrict what you […]
Collateral charge and renewal
Just yesterday we had a mortgage lender come in to our office and talk about their specific mortgage products and so forth. Some very good information and I’m glad that they came in! It’s always good to learn what other mortgage products are available to you, the public! There was one thing though that this […]
TD Takes Heat for its Collateral Mortgages
Thank you Canadian Mortgage Trends for this great article! I’m hoping more and more people start to realize how important it is to speak to a professional who is NOT tied to one lending institution. This is not just with a mortgage, it’s with investments, insurance and so forth. There’s a reason why we’re here…to […]