Shawn Stillman Quoted on The Globe and Mail – A quiet rule change will make it tougher for Canadians with a HELOC to get a second mortgage

https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-a-quiet-rule-change-will-make-it-tougher-for-canadians-with-a-heloc-to/ Lenders often try to approve borrowers for the maximum amount, says broker Shawn Stillman, of Mortgage Outlet. “Banks have been pushing HELOCs for years,” he says. (To be fair, a lot of brokers push HELOCs, too.) “It’s very hypocritical that banks have been promoting lines of credit and telling people, “Don’t worry, this big […]