334 –  Mortgages & Home Equity Refinancing: What Are the Risks in 2021?

334 – Mortgages & Home Equity Refinancing: What Are the Risks in 2021?

Author: Doug Hoyes January 23, 2021 Duration: 33:03

Housing activity in Ontario has been nothing short of crazy. In the middle of a global pandemic, we're seeing multiple offers on homes and rising real estate prices. Why? And is it a good time to refinance if you have debt? Enter Ron Butler – noted mortgage expert. On today's podcast, Ron explains what's going on with mortgages, the impact of low-interest rates, and whether house prices will keep climbing. Ron and Doug also discuss debt consolidation with home equity risks and what you should consider before refinancing. Tune in to this lively discussion!

Related Links:

Ron Butler's appearance on show 293: https://youtu.be/VDSd6z5EJzA

Butler Mortgages Website: https://www.butlermortgage.ca/

Ron Butler on Twitter (@ronmortgageguy): https://twitter.com/ronmortgageguy

 

 

Time Stamps:

1:54 – Going to the bank vs mortgage broker

5:50 – What's going on with mortgages in this crazy market?

7:00 – Low interest rates are a fuel to buy sooner

8:14 – Can we expect another mortgage deferral?

10:30 – Should we be thinking about debt consolidation in 2021? What are the risks?

15:48 – Can you use a HELOC for a down-payment again?

18:42 – Will real estate keep going up forever?

22:31 – Impact of bidding wars on mortgage qualification

25:07 – Are parents still helping their kids buy a home?

26:09 – Is housing a religion?

29:37 – It's an unusual time, but this too shall pass, so think before buying.


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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