1 May

Reverse Mortgages- Need to Know

Reverse mortgage

Posted by: Dave Love

HomeEquity Bank is the only bank in Canada that currently offers the CHIP Reverse Mortgage as well as a secondary product, Income Advantage. These two products are options for homeowners unlike anything else out there. Instead of borrowing money to purchase a house, they will lend you money if you already have purchased one. CHIP […]

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11 Apr

A Reverse Mortgage Success Story!

Reverse mortgage

Posted by: Dave Love

A few years ago, I met with my Home Equity Bank representative. He was trying to encourage me to go visit my financial adviser referral partners and offer Reverse Mortgage products. I explained that I did not know anyone who had a reverse mortgage so it was hard to promote to financial advisers or anyone. […]

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19 Mar

House Rich…..Cash Poor

Reverse mortgage

Posted by: Dave Love

With almost 50% of homeowners ready to retire and wishing to stay in their home and 30% of those people with most of their money tied up in home equity, the downsizing dilemma is real. Can they afford to stay in their home or is downsizing the better option. Are they house rich….cash poor? In […]

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14 Mar

Why I chose a Mortgage Broker

Mortgage Tips

Posted by: Dave Love

Amanda Moss and her husband Robert have had a mortgage on various properties for almost 10 years. The Chilliwack B.C. couple was a few years into their mortgage term, but looking to pay off some extra bills and clear up some financing. They hadn’t considered the option of refinancing until Amanda got some advice of […]

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28 Feb

The Reverse Mortgage- On the rise!

Reverse mortgage

Posted by: Dave Love

The reverse mortgage market in Canada has been increasing at a phenomenal rate over the last few years. In fact, for HomeEquity Bank, the provider of the CHIP Reverse Mortgage, growth was well over 40% in August, bringing Canada’s outstanding reverse mortgage balance to $3.03 billion. Compare this to the latest growth in lending for […]

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5 Mar

Are Variable Rate Mortgages worth it, if Banks don’t follow the BOC?

General

Posted by: Dave Love

The Bank of Canada (BOC) recently lowered the bank of Canada overnight rate by a quarter of a percent in January.  This came as a surprise to everyone and the few people who had variable rate mortgages were rubbing their hands together, looking forward to their payments decreasing.  They did decrease but not the same […]

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26 Jan

The Bank of Canada BOMBSHELL! Lower Interest rates……What next?

General

Posted by: Dave Love

The bank of Canada changed it’s overnight lending rate by a quarter of a point last week which surprised economists, mortgage brokers and everyday citizens of Canada.  There had been talk of it happening but most people took it for just that, talk… Here is an article that provides the everyday consumer with 5 things […]

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31 Dec

The U.S.A is going to raise interest rates……Is Canada to follow?

General

Posted by: Dave Love

An interesting article on whether or not the Bank of Canada will follow in the footsteps of the Fed in the United States.  It seems like whenever we get close to raising interest rates, something happens on a broad scale and we pull our heads back in our shells.  The latest, plunging oil prices………   […]

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