Separation and divorce can feel overwhelming. Questions start piling up fast: Who keeps the house? Can I qualify for the mortgage on my own? How does a spousal buyout work? What happens to our joint debt? Can child support or spousal support count as income? What if I’m the one paying support? What if I don’t currently have a job? What if we don’t have 20% equity in the home? When emotions are high, housing uncertainty can become one of the most stressful parts of the process. The good news? There are mortgage solutions available in Canada specifically designed for separation and divorce situations — and most people do not even know they exist. As a licensed mortgage broker, this is something I help clients through every single week. The mortgage side of separation does not have to be the hardest part. The Biggest Question: “Can I Keep the House?” In many cases, yes — it may be possible. Canada’s mortgage insurers, including Canada Guaranty , CMHC , and Sagen , offe...
Updating you in regards to the ever changing mortgage trends! Great Mortgage Rates & Products! Thinking outside of the Box!!