Money

In the unwelcome circumstance of splitting with a partner, we have to deal with the unpleasant job of sorting through assets, including the mortgage. There’s pretty much nothing worse than trying to divide such a major asset. After all, divorce and mortgage do not mix well together.

Each province sets its own laws concerning the division of marital property, but for the most part, anything acquired during the marriage that you still own at the time of the separation must be divided equally between the spouses. Under the law, both parties have an equal right to the matrimonial home, but the mortgage lender doesn’t care. They just want to collect their money. So, how can you handle your mortgage if you and your spouse split up?

Below are the best practices for managing divorce and mortgage with a calm, calculated approach:

Like most drivers out there, you are probably overpaying for auto insurance. You work hard to be a responsible, accident-free, ticket-free driver but your premiums remain high or they even increase on occasion. The insurance market is saturated with many insurance companies so the good news is you can always shop around for favourable auto insurance quotes.

Before you start to explore your different options and hastily re-sign with your current company or with a new one that does not give you the best possible quote, below are 5 steps you can take to lower your auto insurance and receive a quote you deserve and that fits your budget.

When you retire, you’ll experience inevitable changes in your lifestyle and finances. Your income will mostly consist of Old Age Security, CPP, a private pension, and any other investment income you may have. In some cases, these may not be enough, and you may need a loan. Most lenders require a borrower to be actively employed, but some provide their loan services to retirees.