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Alternative Mortgage Lending

February 4, 2019 Mortgage by CanWest No comments

Alternative Mortgage lending is arranged when you have one of life’s common setbacks, such as work injury, divorce, car breakdown, or layoff from employment which has temporarily affected your credit score. Maybe you are in arrears on your mortgage and they have threatened a Foreclosure action? Maybe you have a bad credit score or want […]

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Second Mortgages – What are they?

February 3, 2019 Financial Planning, Mortgage by CanWest No comments

If you’re a Homeowner, you’ve probably heard about second mortgages. But what is a second mortgage? It’s a type of loan that is secured by your home, similar to a first mortgage provided by a traditional bank. Over time you build up equity in your house, and a second mortgage allows you to use the […]

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Take Charge of Revenue Canada Debt

February 3, 2019 Mortgage by CanWest No comments

Many self-employed people, presently or in the past, have accumulated tax arrears at some point. The CRA has strong powers to make sure they collect what people owe. They charge penalties and interest on all tax arrears. They can withhold child tax credits and GST credits until the arrears are paid. They can take money […]

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Debt Consolidation

February 2, 2019 Mortgage by CanWest No comments

Debt consolidation is a common way to ease the burden of household debt payments. Home equity is the difference between the value of your home and the unpaid balance of your current mortgage. For example, if your home is worth $250,000 and you owe $150,000 dollars on your mortgage, you’d have $100,000 in home equity. […]

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What is a Private Mortgage?

February 1, 2019 Mortgage by CanWest No comments

For those having trouble qualifying for a traditional mortgage, other solutions are still available, one of which is a private mortgage. And with increasingly stricter mortgage regulations and qualification requirements being introduced by the government, they’re growing in popularity. Whether you have bad credit or want to consolidate your debt, Canada West Mortgage has a network […]

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Mortgage in Foreclosure

February 1, 2019 Mortgage by CanWest No comments

Foreclosure is the legal steps that a lender takes to recover arrears and principal on mortgage loan that is in default.  If your Mortgage is in Foreclosure, contact us right away, as our lending partners are specialized and will help take steps that can stop the mortgage foreclosure from proceeding. Click here to apply online! […]

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Advantages & Disadvantages to a Reverse Mortgage

February 1, 2019 Mortgage by CanWest No comments

A reverse mortgage is a special loan for homeowners 55 +, that lets them borrow against the value of their home, without having to sell their home. Unlike a typical home equity loan, reverse mortgages do not have to be repaid during the life of the homeowner, thereby protecting a homeowner from the possibility of foreclosure. The […]

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Commercial Mortgages

January 31, 2019 Mortgage by CanWest No comments

Commercial mortgages are mid-term loans made using business or commercial real estate to secure payment. The proceeds from commercial mortgage financing loans are typically used to acquire or redevelop commercial property. You can also use commercial mortgage financing to bridge the arrival of longer term financing from a conventional institutional lender, or to provide time […]

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RRSP`s in Canada – Who are they for?

January 30, 2019 Financial Planning, Mortgage by CanWest No comments

An RRSP is a retirement savings plan that you establish, that the CRA registers, and to which you or your spouse or common-law partner contribute. With the federal government’s Home Buyers’ Plan, you can use up to $25,000 of your RRSP savings ($50,000 for a couple) to help finance your down payment on a home. To qualify, the RRSP funds you’re […]

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