Greener Home Improvement Loans & Grants
  
Recently I have been approached by a few people asking me to help them find $100k loans for home improvements.
There are a few great options from the government and municipality; you don't need me.
*Available on primary residence only*
For Toronto residents: HELP (Home Energy Loan Program)
Up to $125k, interest-free & max of the 15-year term.
For non-Toronto residents: Canada Greener Homes Loan
Up to $40k, interest-free & max of the 10-year term.
Click on the links, and you will be directed to their official pages for program details, eligibility check and application.
You're welcome.
How to Lock A Door Without A Lock
There are many commonsense reasons why you’d want a little extra security. If you frequently travel, staying in hotel rooms or Airbnb rentals can be risky because doors don’t always lock securely, if they lock at all. Plus, cleaning staff and who knows who else has keys.
Whether you want more secure doors when you’re home or away from home, there are plenty of options. Some temporary locks are made for doors that swing in, and others for doors that swing out. Some must be screwed to the door, door jamb or floor; others are removable.
The photo in this article is for a product you will find on Amazon called "Portable Door Lock," and it is sold for about $10.
This lock works by disabling the doorknob rather than wedging the door shut, so it’s only as secure as the lockset and the wood in the door jamb. To use it, insert the pins on a metal plate into the door strike and close it. Then insert the pin on the locking mechanism into a hole in the plate, and push the mechanism down to prevent the knob from turning. This provides excellent security for in-swing doors that don’t lock and doors with locks that others have keys for.
Now that we are starting to travel more with the lessening impact of COVID, this might be something worth investing in.
Financing The Buyout Of The Marital Home After A “Grey Divorce”
In 2021, there were more than 1.6 million divorced people in Canada between the ages of 55 and 89 years old. This phenomenon, commonly known as “grey divorce,” is defined as those over the age of 55 going through a divorce. For many of these individuals, staying in the home they love is a priority, but they may not have the funds on hand to finance a buyout.
If you lack the means to generate new wealth or face difficulties borrowing due to a lack of employment income, it can be tempting to dip into your retirement savings or investments to cover the cost of a home buyout. However, there is a better solution.
For those looking to finance the buyout of their marital home, a reverse mortgage may be the answer. The reverse mortgage can help you tap into the equity you’ve built in your home to buy out your spouse’s half of the home. With a reverse mortgage, you can access up to 55% of the value of your home and turn it into tax-free cash. What’s more, there are no monthly mortgage payments, which can help free up additional cash, which you can use to pay for renovations, cover medical expenses, or pay down debt. How you choose to use your funds is up to you.
If you have questions, contact me for a confidential conversation today.
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