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How Does a Second Mortgage Work? What Alberta Homeowners Need to Know in 2025

By James McLean

How a second mortgage works
How a second mortgage works

How Does a Second Mortgage Work? What Alberta Homeowners Need to Know in 2025

The bank turned you down. Now what? If you're an Alberta homeowner with equity in your property, a second mortgage might be your answer. I'm going to share how these financial tools work so you can see if they're right for your situation.

debt consolidation

3 Things You Need To Know About Debt Consolidation

Debt consolidation simplifies managing your finances by combining multiple debts into one loan with a lower interest rate. Understanding the difference between unsecured and secured debts, knowing your loan options, and working with the right lender can make all the difference in getting out from under crushing debt loads.

Second Mortgage vs. HELOC: Which Is Right for Your Situation?

Trying to decide between a second mortgage and a HELOC? Both let you tap into your home's equity, but they work very differently. If you've been denied a HELOC due to credit challenges, a second mortgage might be your best path forward.

Bad Credit Mortgage Options in Alberta: Your Complete Guide for 2025

This complete guide breaks down everything you need to know about securing a mortgage with challenged credit in 2025, from B lenders and private lenders to credit unions and monoline options. We'll also cover how current homeowners can access their home equity through second mortgages when banks won't approve them.