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If you’re a Canadian homeowner, you’re probably familiar with the term “second mortgage.” Second mortgages are one of the most common borrowing tools for people who are in the process of building up home equity

Do you have a mortgage on your home? It may hold more value than you think.

Should I refinance my home mortgage loan? Although it might fly under the radar for many households, this question should be asked periodically because it could radically change your monthly finances. When you refinance a mortgage in Ontario, you get the opportunity to lower your interest rate, shorten the term of your loan, or tap into your home equity to free up some funds for a large purchase or to consolidate debts.

Nobody likes being in debt, but for most it's a part of life. There are bills to pay, cars to fix, medical emergencies to deal with, children to feed - you name it, there's a bill for it. And the worst part? Even if you don't add another cent to the debt, it will keep growing because of the interest rate on each bill's monthly payment.

When purchasing a home in Canada, most Canadians will do so using a mortgage, which is a type of loan designed specifically for property transactions. Today, approximately 40% of all Canadians currently have a mortgage. Loans are most often sourced from banks, large financial institutions and credit unions, but there are also a large number of private lenders that offer mortgage products as well.

Small and medium businesses in Canada can sometimes face significant obstacles when trying to get loans from the big banks or traditional financial institutions. Even healthy, profitable companies can find themselves rejected for small and medium-sized loans, and economic uncertainty can make this problem worse.