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Real Estate and Mortgage Institute of Canada Inc.
Toronto:
2175 Sheppard Ave E, Suite 307
Mississauga: 1065 Canadian Pl, Suite 203
t: 1-877-447-3642     e: support@remic.ca

Tag Archives: real estate and mortgage institute of canada

What is a mortgage?

What is a mortgage?  According to the Ontario Mortgages Act, R.S.O. 1990 c.M.40 (the legislation that governs mortgages in Ontario), the word mortgage is defined as, “any charge on any property for securing money or money’s worth.” Most consumers would not necessarily understand that technical definition.  In actuality, a mortgage is evidence of a debt.  […]

Power of Sale in Ontario

Power of Sale in Ontario The power of sale in Ontario begins when a borrower defaults on his or her mortgage obligations, including any of the covenants contained in the Standard Charge Terms, the lender can consider the borrower to be in default. When this occurs the lender may commence certain actions to collect the outstanding […]

Understanding Your Credit Score

Understanding Your Credit Score In understanding your credit score we must first define what it is. The Credit Score is a numerical representation of your current and past credit and can range between 300 (the lowest score representing the worst) and 900 (the highest score representing the best). The scoring model used by Equifax and Transunion […]