A reverse mortgage may sound like a good deal for cash strapped seniors. You can turn your home equity into cash without having to sell your house.
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While it can be tempting to get the biggest house that a lender will help you buy, it is important to make sure that you are can comfortably make your mortgage payments.
Trying to buy a new house when your current house is underwater presents a big challenge. Here are some options of what you can do when you end up in that situation.
One investment that is eligible to be held in your RRSP is your mortgage. This is where you make your mortgage payments to the RRSP instead of a bank.
The American Dream has revolved around owning a house. However, being "tied down" to a house might no longer be the real American Dream.
Do you have a monthly mortgage payment but get paid every 2 weeks? One of the simplest ways to reduce the total interest you pay is to split your mortgage payment in half and pay that amount every 2 weeks.
If you and your spouse are both over 60 and your house is completely paid off, you may have considered getting a reverse mortgage to take advantage of the equity you’ve built up in your home.
When you have mortgage debt forgiven due to a short sale or foreclosure, will you be liable to pay for the forgiven amount when it comes to tax time?