Canadian Money Forum banner

home equity

  1. Does home equity backfire when there is bankruptcy?

    Real Estate
    Hello, I am trying to comprehend the nature of "home equity" and how it relates to bankruptcy. As I understand, home equity is the portion of your property that you truly “own.” So, for a house with a market value of $200,000, let's suppose I made a $40,000 down payment in order to pay the...
  2. Using investment property equity for retirement income?

    General Personal Finance Talk
    Hello, Quick question for anyone willing to take a look... Let's say Im retired, I have investment savings and a rental property. Can I use the equity in my investment property to draw as retirement monthly income? Let's say I put a HELOC on it - Is the tax deductible in this case? Thanks, G