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Financing, Mortgages and Insurance What options are best for you and your situation?


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Old 2018-05-11, 03:25 PM
eastendguy eastendguy is offline
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Default Investing most of your cash in your home? Bad idea?

So I was reading insurance documents and we are not covered in case there is a war and the home is damaged. I put the full 20% down payment on my home... I could lose all that money due to a war!

I think cash in the bank account could be safer... or is it? Banks in Canada are guaranteed up to 100k.
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Old 2018-05-11, 03:35 PM
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good2know good2know is offline
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a WAR IN oRLEANS? Cant imagine that ever happening really.
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Old 2018-05-11, 04:08 PM
alsh alsh is offline
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If there is a war I would be worry about surviving not my house coverage. There are lot of things insurance don’t cover
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Old 2018-05-11, 04:13 PM
Sarah2012 Sarah2012 is offline
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Not hard to make more money in the market these days. I would invest all that cash in a TFSA, take advantage of the low mortgage rates for the next few years. Then you can always pull the TFSA money when you renew your mortgage if you want to - or you have cash on hand in an emergency.
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