Homeowners may benefit from refinancing their mortgage by lowering monthly payments, accessing equity, or consolidating debt. In spite of this, refinancing is a complex process that requires careful consideration in order to avoid potential pitfalls. Here are some pitfalls to watch out for when refinancing a mortgage in Canada.
Ignoring the Associated Costs
Refinancing often involves various fees and expenses that need to be considered to determine the financial feasibility of the process. Some standard...