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  Everything You Need to Know About Second Mortgages If a second mortgage is what you need, there is no reason to be ashamed of it. There are several reasons why you might need that money, perhaps you wish to return to school, or you need to pay back some credit cards that have been stressing you out for some time. If not, then perhaps you wish to repair your home to make it more livable for your family and increase its property value down the line. You might want to consider taking advantage of your existing property's home equity which is more significant than any cash you might have access to. This post will take a close look at second mortgages and just how you can use them for your rainy day. What is a Second Mortgage? Before we discuss how it can help you, we must first discover what it is. It is essentially a loan taken out against a home you own. You must already pay this property’s mortgage to qualify for a second mortgage. The good thing about...

  Top Facts About RRSP Home Buyer’s Plan Every Canadian knows that if they want to save up for when they retire, putting their funds into a Registered Retirement Savings Plan (RRSP) . It is an incredible tool to help individuals accumulate their Savings. There is virtually no tax charged on any amount put into these accounts, nor is it charged on any interest it generates down the line. Individuals that put their funds in an RRSP account can certainly enjoy not paying tax on their funds while also accumulating interest until such time that they decide to withdraw from this account. That brings us to the point of this post, and that is: can you use your RRSP funds to help with a down-payment on your first property in Canada? The idea is that the funds need to stay in your RRSP account until you are of age to retire so that you are financially secure. Individuals that withdraw their funds earlier have to pay penalties for early withdrawals. However, the RRSP H...