Key Findings from the Canadian Mortgage and Housing Corporation 2012 Mortgage Consumer survey
Consumers are looking more to the Internet for mortgage information and use
of social media is also growing
Recent buyers continue to rely heavily on mortgage professionals and others
for advice and information on a range of mortgage related topics
terms of share and loyalty
mortgage sooner
improvement
consumers and have some unique needs
Recent buyers are exploring their mortgage options and are
actively engaged in the mortgage process
Mortgage brokers and lenders both continue to do well in
Post transaction follow-up continues to be an important factor
driving client satisfaction and potential future business
Recent buyers report taking actions to pay down their
While there are positive indicators regarding the
financial literacy of recent buyers, there is room for
First-time buyers differ from other mortgage
To read the entire survey, please visit www.cmhc.ca/2012survey
Reverse Mortgage - Facts Vs Myths Many misconceptions abound about the Reverse Mortgage. When clients are educated, Reverse Mortgages may be the ideal solution for there financial needs. Myth : The bank owns the home Fact: The homeowner always maintains title ownership and control of their home, and they have the freedom to decide when and if they’d like to move or sell. Myth : Those with a reverse mortgage will owe more than their house is worth Fact : HomeEquity Bank’s conservative lending practices allow clients to take a maximum of 55% of the home’s appraised value. In fact, 99% of HomeEquity Bank’s clients have equity remaining in the home when the loan is repaid. Myth : Reverse mortgages are too expensive because the rates are high Fact : HomeEquity Bank rates are modestly higher than regular mortgages because there are no payments required. Myth: A reverse mortgage is a solution of last resort Fact : Many financial professionals recommend a reverse mortgage becau...
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