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QUOTE (JoefromTO @ Oct 14 2009, 03:08 PM) I answered some of your questions in red. If you can use your LOC to actually purchase a property in full, then your either sitting on alot of equity or the property your buying is inexpensive, compared to your LOC property. When you have a LOC on a...

QUOTE (JoefromTO @ Oct 14 2009, 11:07 PM) I`ve heard of lending cash out this way...can you tell us more about how to do this/set it up? and what kind of reasonable returns can be expected and time frame? This is the kind of stuff that puts meat to the words. I think he`s just saying that you...

Hey everyone, me again. I`m sure this question has been answered a million times on this forum, but I`ll ask it again.. Why is having a HLOC so much better than having a standard mortgage?

QUOTE (gwasser @ Oct 13 2009, 03:52 PM) First of all, it sounds like you bought your personal residence and use renters to help cover the bill rather than an investment property. I guess you could say the house is an investment in the sense that I am no longer paying $650 in rent monthly, plus...

QUOTE (nubiwan @ Oct 13 2009, 07:56 PM) How can someone be low on cash but good for a mortgage? You mean co-signing a loan? Bit lost. I`m very green on the subject, but I would assume it would be someone with a steady work history in one industry. If you have a big lump of money and no job...

Wow! That was more response than I anticipated. Thanks for your input everyone.. much appreciated. Paul

Hi everyone. I`m entirely new to this forum. I have recently (2 months ago) bought my first house in Niagara Falls, ON. The mortgage I went for was the longest-term available. I`m in the neighbourhood of $270 biweekly. I have two tenants living with me paying $975/month combined. My question...