THE DAVISVILLE & LEASIDE INSIDER

THE DAVISVILLE & LEASIDE INSIDER

Monday, May 30, 2011

When is it worth it to break your mortgage?

In this excerpt from the MoneySense Guide to Buying and Selling Your Home, a book in the "Best of MoneySense" series, writer Julie Cazzin looks at when it makes sense to break your mortgage.

Joakim Tjernell was pretty proud of himself—he’d done a damn good job of shopping for a mortgage. It was back in June of 2009 and Tjernell, a 32-year old translator, had been eyeing units in a slick modern condo building on Toronto’s Bathurst Street for a while. There was a lot of paperwork—Tjernell’s wife is a freelance graphic designer, so they had to prove that she had regular income. “This was the first time we had a mortgage, so we were nervous about getting approved,” he recalls.

Source: Julie Cazzin
Special to Globe and Mail Update
Published Monday, May. 30, 2011 7:37AM EDT
Last updated Monday, May. 30, 2011 7:43AM EDT


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