In this issue:
- Protect more than your family’s mortgage. Protect their future.
- Your offer was accepted. What now?
- Why I won’t sell mortgage insurance
- Toronto housing market frenzy may be subsiding
Your lending institution offers mortgage insurance. But why settle for an insurance product that does just one thing? When it comes to protecting your mortgage, there’s another option to consider.
Term insurance is an innovative solution that helps protect your family’s future as well as your home. Not only does it offer more protection, more flexibility and more value than traditional mortgage insurance, but it’s also often a better price.
Buying a new home is The Canadian Dream and for most of us, this will be the biggest asset purchase in our lifetime. We all hope to live well and prosper and at some point, pay off that mortgage, live mortgage free and enjoy the true value of home ownership. We may even pass this valuable asset on to our children or grandchildren tax free! But for some of us this may not happen!
When your mortgage application has been approved, you will at some point be asked if you want mortgage insurance, and you can choose from an array of options that “cover” you in the event of illness, disability or death. Most of us have a natural instinct to insure against such events so we generally sign on the dotted line. Your mortgage advisor earns an additional commission and you feel safe in the knowledge that you have covered your bases if disaster strikes. Except that you really haven’t.
It is like a tap has been switched off. That’s how realtor Louise Sabino describes the housing market in the wake of the Liberal government’s provincial plan aimed at cooling Toronto’s scorching property prices.
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