Purchasing a home is usually one of the largest assets an individual will own, while getting a mortgage is usually one of the largest debts.
While the approval process is one of the steps to successfully closing your mortgage transaction, as your lawyers we strive to effectively communicate what the contractual and legal terms of your mortgage mean.
While a mortgage, in its simplest form, entails a bank lending you money in exchange securing its interest in the loan against your property, there are important considerations to think about before signing the mortgage documents.
Here’s an insightful article from the Financial Services Commission of Ontario setting out some of the risks associated with getting a mortgage: click here.