It’s difficult enough going through a Bankruptcy or Consumer Proposal, but believing that it takes 7 yrs before you can become credit worthy is not necessarily true. There are guidelines that need to be followed but you could re-enter the credit market within months of the formal discharge. Mortgage Lenders have the requirement that you [...]
Bankruptcy… 7 Years is a Long Time. Why wait?
Posted on May 14th, 2012Divorce and Finances
Posted on March 22nd, 2012Not Quite Like Death and Taxes….it just feels that way! Sometimes it’s inevitable. Divorce is the way a relationship will end. When a couple chooses divorce there will be a division of assets including but not limited to savings, investments, pensions and the matrimonial home. The equity of the home minus any existing mortgages will [...]
Mortgage Rules Likely To Tighten Again
Posted on March 20th, 2012All indicators are that Jim Flaherty (Canada’s Minister of Finance) will once again tighten mortgage lending rules. If you are going to buy a home this year, it’s best you act quickly on purchasing a home. Traditionally, the rule changes are introduced in the springtime. So, if you are debating on purchasing a home, it’s [...]
Reverse Mortgages… Good, Bad or Just in time!
Posted on March 20th, 2012There’s a lot of buzz these days about reverse mortgages and given the new popularity one may have to assume that they can be good. Baby Boomers are one of the largest demographics in Canada at this moment. Add to that the fact that people are living longer, healthier and more productive retirements than ever. [...]
According to CMHC 44% of First Time Buyers use Mortgage Brokers
Posted on March 15th, 2012A survey conducted by CMHC (Canada’s primary mortgage default insurer) has shown that currently 44% of all First Time Buyers use the resources that only a Mortgage Broker can offer. Generation Y: Also called Echo Boomers (Sixty million strong have grown up on the internet) do their homework on the web before buying. They are [...]
Who Gets the Real Estate Deposit!
Posted on March 14th, 2012Real Estate Deposits, What Happens If the Transaction Doesn’t Close? Buyers don’t go into real estate transactions with the hope of getting out of the deal, but sometimes things happen during the process that cause a deal not to close. With Sellers demanding as much as 5% of the asking price as a deposit, there’s [...]
Real Estate Investors Back in the Game
Posted on March 12th, 2012Our office has seen a lot of interest in buying for investment. Some are buying to flip and others are buying to hold for the future. In any case there are some things that are a must if you plan on entering this circle: 1. Treat Investing as a business. Keep emotions in check make [...]
Don’t be fooled by BMO.
Posted on March 9th, 2012There are plenty of restrictions! What you’ll get through Mortgage Intelligence Oshawa 5-year fixed at 3.09% 10-year fixed at 3.89% *Amortizations up to 30 years *Lump Sum pre-payments to 20% and can be assumed *No Locked Term. Do as you wish to refinance, blend and increase, port, or allow to be assumed and discharge to [...]
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