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Comment on Manulife ONE Mortgage Review by Ed RempelThis is a discussion on Comment on Manulife ONE Mortgage Review by Ed Rempel within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; M1 is also significantly more complex for the Smith Manoeuvre than bank readvanceable mortgages , since you need to create ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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05-19-2008, 02:53 PM
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Comment on Manulife ONE Mortgage Review by Ed Rempel
M1 is also significantly more complex for the Smith Manoeuvre than bank readvanceable mortgages, since you need to create a subaccount to be the tax deductible one and manually transfer the interest and the amount readvanced to invest ...
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