22 Nov

What’s Next for your Home After a Separation?


Posted by: Janelle Bentz

Growing up, most people dream about living a fairytale with a wonderful partner and a life of bliss. Unfortunately, real life is not always a fairytale and not every relationship lasts forever. In fact, latest statistics show that 38 percent of all marriages in Canada end in divorce.

Separating, whether through divorce or ending a common law relationship, is never an easy step. Losing someone close to you (whether for the better or not) is hard – but it doesn’t have to mean losing your home too. Most individuals who are going through a separation feel as though they are forced to sell their home and split the equity depending on your agreement, but there is another way.

spousal buy-outs

Spousal buy-outs are one of the mortgage industries best kept secrets and we want to blow the lid on this great alternative! While not everyone will want to remain in their home, many individuals may opt to remain rooted – especially for those with children who are already enrolled in school and happy in their neighborhood. This is where the Spousal Buy-Out Program comes in.

Backed by all three of Canada’s mortgage insurance providers (Canada Mortgage and Housing Corporation, Sagen™ and Canada Guaranty), this program is designed to allow one party to refinance the shared home up to 95 percent of its appraised value. In order to qualify, both you and your ex-partner must currently be on the deed to the property. As a one-time opportunity, the Spousal Buy-Out Program can also be used to pay off other debts outside the separation agreement, further assisting with the transition.

Now you may be thinking “I wish I could, but I can’t afford it”. Well, don’t sell yourself short just yet! We understand the cost of purchasing a home, whether outright or from your partner, can be high. Fortunately, The Spousal Buy-Out Program was designed to help YOU and mitigates these costs by allowing individuals to bring on a cosigner, such an existing family member or even a new partner, to assist.

If you are separating from your spouse or partner and would really like to hold onto your shared home, there are a few things you will need including:


An appraisal report will likely have been obtained to determine Equalization of Assets. However, in some cases the appraisal may not be acceptable to a lender unless it was originally ordered by a third party. The appraisal must also have been produced within 90 days (less with some lenders) to ensure accuracy. If the original report was previous to 90 days, a new one must be obtained.


To qualify the lender must be provided a signed copy of the separation agreement. The details of asset allocation must be clearly outlined.


A standard agreement of sale indicating the new ownership.


This is required so the lender can verify your ability to manage your mortgage payments.


This is an optional one-time option for paying off additional debts outside of the separation agreement. The proceeds can only be used to buy out the other owner’s share of equity and/or to pay off joint debt as explicitly noted in the signed separation agreement.

Moving on in life can often be difficult, but this program allows you to maintain some of your routine and security by ensuring you – and your children – can remain in the home you love.

Blog courtesy of Dominion Lending Centres Canada.

22 Nov

The Cold Buster Smoothie


Posted by: Janelle Bentz

Boost your immune system with this vitamin-packed thirst-quencher!

Cold and flu season is upon us. If you’re experiencing symptoms of illness or looking to fight them before they start, then this tasty drink recipe will help your immune system do its work.

Here’s why the combination of ingredients in this smoothie packs a big punch: It’s high in antioxidants.

  • It helps clear toxins through the liver.
  • It’s filled with Vitamin A, which helps clear congested lungs.
  • It’s a great source of energy fuel and brain food.
  • It’s free of dairy products, which will help suppress mucus production when you’re under the weather.

Bursting with flavour and nutrients, the mixture of blueberries, oranges, kale, apples, carrots, and beets are not only adult-approved, but popular with sick kids too!


Total time: 10 mins

Serves: 2-3


  • 3 cups of blueberries
  • 1 orange, peeled
  • 2 carrots
  • 2 cups of spinach
  • 2 cups of kale
  • 1 apple, core and seeds removed
  • 1 small raw red beet
  • 1/3 cup ice
  • 1/2 cup water


Place ingredients in a blender and blend until smooth. Add more water until mixture reaches desired consistency.

Blog courtesy of Dominion Lending Centres Canada.