During the great depression, when Franklin D. Roosevelt was President, only four out of 10 Americans owned their own homes and millions of construction workers were out of work. With mortgages limited to only 50 percent of a home’s value, it was nearly impossible for the average American to own a home. In 1934 Congress…
One of the biggest financial decisions a lot of people are likely to make is the choice to purchase a home. The reasons may vary from one person to another. Some choose to do it because they want to build equity and gain a big tax break, while for others it is a way to…
Are you thinking of applying for a mortgage? What do you need to know? Well wonder no longer – here is the smart guide to applying for a mortgage in 2012. 1. Be realistic about how much you will be able to borrow – most lenders work on salary multiples of around 2.5 – 3…
If you’re self employed, you already know how hard it can be to get a Canadian mortgage for someone without a traditional job. Being self employed shouldn’t be punitive; you’re going to need to get creative about your financing if want to get a home or refinance your current home. When you work with a…
A secured line of credit is a great way to fund retirement or big ticket purchases, but do you know how they work? A line of credit is something most of us use each and every day like store credit and credit cards; both of these are money borrowed, repaid and borrowed again. Instead of…