Alberta couple plans to pay off their family's mortgages after $3M ...

Alberta couple plans to pay off their family's mortgages after $3M lotto win. An Edmonton couple is taking a family-focused approach to their windfall after discovering they won a top prize on a scratch ticket. Georgette and Michael Hales won the $3 million prize on a $30 Platinum …

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Alberta Couple Plans To Pay Off Their Family's Mortgages After $3M ...

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dailyhive.com

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My Parents Are Still Paying Off Their Mortgage After 20 Years

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My parents originally bought their house for $290k in the early 2000s. I thought the mortgage would be at least mostly paid off by now because they make about $140k combined annually, …

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How This Couple Paid Off Their $320,000 Mortgage In 6 Years

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Mar 5, 2016 · Andrew and Brenda Daniels have achieved what many couples in their 30s can only dream of: living mortgage-free. The Daniels, who are both 37 and have two young children, …

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How This Couple Plans To Pay Off A $300,000 Mortgage In 7 Years …

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Feb 11, 2015 · In 2014, we made three more lump sum payments totalling $21,027, which mostly came from savings and a pension adjustment. And we recently made our lump sum payment …

ratehub.ca

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Mortgage Payoff Calculator

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Payoff in 17 years and 3 months. The remaining balance is $372,217.43. By paying extra $500.00 per month starting now, the loan will be paid off in 17 years and 3 months. It is 7 years and 9 …

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How One Canadian Couple Managed To Pay Off Their Mortgage In …

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Feb 12, 2015 · Here are the details of their plan. When Trevor MacKenzie moved into his wife Rebecca’s home in Ontario, Canada after getting married in 2012, it had about $104,800 left of …

financialpost.com

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Just Paid Off My Mortgage. What Should I Be Doing With The

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Paid our house off 6 years early by making double up payments and anniversary lump sum payments. This frees up around $900 every 2 weeks. 44yo married 3 kids. I need to start up a …

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Can This Couple Trade Their Home For Two Condos When They Retire?

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Oct 26, 2023 · Before then, they have to pay off the $425,000 mortgage on their Alberta house, build up their non-registered savings and pay off their car loan. Lyle earns about $102,000 a …

theglobeandmail.com

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Can This Couple Pay Off Their Mortgage Before Retirement ...

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Jul 3, 2024 · Clive and Julia live in the Greater Vancouver area and their biggest expense is their large home, valued at $3.5 million with a $950,000 variable-rate mortgage at 6.3 per cent. This …

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Alberta Couple Laid Off In Their Late 50s Now Face 31% Collapse In ...

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Dec 6, 2019 · A rental property the price of which collapsed by 31 per cent in Alberta’s boom/bust economy produces a zero return after mortgage and other costs. Their $750,000 house also …

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With Careful Tax Planning, This Alberta Couple Can Retire Early And ...

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Oct 20, 2017 · Their U.S. rental property produces net rent of $483 per month after mortgage costs of $660 a month, property taxes and other expenses. The annual net rent before tax, …

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FAQs about Alberta couple plans to pay off their family's mortgages after $3M ... Coupon?

What happens when you pay off a mortgage in Canada?

One of the things that happens when you pay off your mortgage in Canada is you have to pay fees. There are several fees involved in mortgage discharges, including the following: Lenders charge a fee for discharging a mortgage. ...

Did Alberta couple win a top prize on a scratch ticket?

An Alberta couple is taking a family-focused approach to their windfall after discovering they won a top prize on a scratch ticket. ...

Can I pay off my mortgage without a lawyer in Canada?

However, some provinces or territories may allow you to discharge your mortgage on your own without the assistance of a lawyer. However as mentioned, the documents may still need to be notarized by a notary or lawyer. So what exactly happens when you pay off your mortgage in Canada? ...

What happens if a mortgage is repaid in Canada?

Once you’ve made your final mortgage payment and the loan is fully repaid, the lender’s lien on your property must be removed. To do this, your mortgage must be discharged. Your lawyer can help you with this process, though you may also be able to do this on your own, depending on where you live in Canada. ...

How to pay off a mortgage early?

Outlined below are a few strategies that can be employed to pay off the mortgage early.: Extra payments are additional payments in addition to the scheduled mortgage payments. Borrowers can make these payments on a one-time basis or over a specified period, such as monthly or annually. ...

What is a biweekly mortgage payment option?

The biweekly payments option is suitable for those that receive a paycheck every two weeks. In such cases, borrowers can allocate a certain amount from each paycheck for the mortgage repayment. Another option involves refinancing, or taking out a new mortgage to pay off an old loan. ...