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If you have have overextended yourself with credit card debt, or have consolidated all of your consumer debt into your mortgage, or are at the point where you just want to cancel your credit cards, we have the 3 steps for you to follow to get your credit back in...
With the up and coming changes to Mortgages on October 17th, we took a moment to look back at the evolution of the mortgage, and to highlight these new changes and what they mean LOOKING BACK BEFORE 2008 During this time, lending and mortgages were much...
A perfect example of the unpredictable volatility in the Canadian jobs report, the September gain of 67,000 jobs was dramatically larger than economists’ expectations of roughly 7,500 new jobs. Most of the rise was in part-time work, however, and it was boosted by...
So it seems that there are still Canadian consumers who have reservations or misunderstandings about why a mortgage broker is their best choice. Time to take a quick look at 5 reasons you should use a broker. 1. Almost always free to use. 41% of...
By now you will have likely heard that the Federal Finance Minister has made drastic changes to mortgage lending rules making it tougher to qualify for a mortgage. For Canadians with less than a 20% down payment, their purchasing power has been dramatically reduced....
Often times it’s the simple math that will betray you when selling a property. In your head you do quick calculations, you take what you think your property will sell for and then subtract what you owe on your mortgage, and the rest is your profit! Well… not so fast,...
The Minister of Finance announced on Monday new Canadian mortgage rules effective October 17,2016. The new rules will impact high ratio buyers – those with less than 20% down payment. Other rule changes are expected to follow so stay tuned for details as they unfold....
Bankruptcy challenges are daunting. But it doesn’t mean you’ll never get a mortgage again. In fact, if your loan to value is low (a bigger down payment) and your income is stable with good job tenure, you are well on your way to mortgage success Here are the 6 crucial...
Every mortgage secured by a property will be registered with the land title office.There are two ways your mortgage can be registered on title: Standard charge or collateral charge. Not long ago, most lenders registered all mortgages as a standard charge. In recent...
10 Questions for First Time Buyers As a first time home buyer, the process of purchasing a home can seem very daunting. From a financing standpoint, here are 10 common questions I hear from first time home buyers. 1. What’s your best rate? This is by far the most...
5 Reasons Why Your Bank Rate Isn't Better I recently had a client ask me what difference I could provide given that his bank’s website was offering the same interest rate I had quoted him the day before. Before responding to him, I went on his bank’s website to check...
How to Grow Strong Credit One of the comments I hear the most often from people is that they wish financial literacy was taught in school. I cannot agree more. The worst of it is when I meet with someone and though they have the employment and the down payment...