Posted on
April 14/2020By
northwood
If you are planning a divorce, then you will likely be dealing with many emotions. However, one thing that often falls by the wayside during a divorce is mortgage payments. Couples need to try and find an amicable solution that will help reduce their financial burdens so that both parties can enjoy a clean slate when all the papers have been signed and the dust has settled. Here, we will discuss some of the mortgage payment options and solutions at your disposal in the event of a divorce. Sell the Home Most experts agree that the best option is for the home to be sold. Moreover, the easiest way to accomplish this is if you have equity in the property. Then, the home can be sold, and the profits can, ideally, be split evenly between both parties. Still, this option may be difficult for some couples, especially if they have…
Posted on
April 07/2020By
northwood
The housing market in 2019 was dominated by limited supply, high demand, and low rates, primarily in the lower-priced end of the industry. As for 2020 and beyond, some experts predict more of the same, while others have predicted some marked changes that will take the real estate market by storm. Here, we will discuss some of the trends to look for in 2020 regarding the real estate mortgage industry and the real estate market at large. Mortgage Rates Will Either Remain the Same or Go Down Slightly While mortgage rates will fluctuate depending on where you live, Freddie Mac’s most recent numbers had real estate mortgage rates sitting at roughly 3.75%, which is nearly a 1% difference from what the monthly average was a year ago. As such, the drop in rates caused an upswing in refinancing over the last three months, as purchasing activity also enjoyed a surge…
Posted on
March 23/2020By
northwood
Mortgage qualification is usually something that first-time homebuyers worry about, and neophytes will often make mistakes that can cause stress and financial ruin down the line. However, mortgage qualification issues can be avoided, as can many common mortgage mistakes that many first-time homebuyers make in attempts to own the home of their dreams. Here, we will discuss the most common mortgage mistakes that you should never make. Becoming Impoverished Over Home Ownership Many new home buyers will make the mistake of investing most of their money into home-related expenditures to pay it off faster and increase its real estate value…
Posted on
March 21/2020By
northwood
Most economists who specialize in banking have predicted that the Bank of Canada will not change rates, except for Scotiabank. Moreover, inflation, which was reported at 2.4% in January, is on the higher side of things, and we should note that housing prices are on an upswing, according to the most recent numbers. In addition, unemployment levels are low, and all of the trends mentioned above and numbers should place some pressure on the Bank of Canada to increase rates in 2020. Here, we will delve deeper into residential mortgages in Ontario and Canadian interest rate trends for 2020. How…
Posted on
March 16/2020By
northwood
When a couple divorces, they may worry about how their assets will be divided. However, if the couple has debt, then there is the additional issue of determining who will be held responsible for any debt that is owned by or between both parties. For instance, if one party is awarded more property than the other in the settlement, then they may also have to deal with more debt obligations to compensate. Here, we will discuss debts, such as mortgage debt, and how they are divided in a divorce. Credit Card Debt If your spouse has any credit card debt…
