March 9, 2010

Reverse your fortunes

You have a property whose value has appreciated over the years. A home which you bought years ago for only $100000.00 may today be worth over $500000.00. Your home is a savings account you may never have considered

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February 17, 2010

Wake up and smell the coffee

Yesterday Finance Minister Jim Flaherty announced some minor changes to the mortgage lending rules.
These changes which take effect on April 19th 2010 are designed to save the general home buying public from themselves

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October 14, 2009

There is bad credit and then there is baaaaad credit

Yes I am a mortgage broker, and yes I claim to be able to obtain mortgages for individuals with bad credit. Having said that, I must clarify what constitutes bad credit and what you as an individual must do to help yourself. First of all let us begin with the do’s and don’ts of procuring a mortgage.

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September 16, 2009

Newcomers to Canada

Can a new immigrant, get a mortgage, upon their arrival to Canada? Many unscrupulous private lenders would have you believe that they are the only ones ready willing and able to fund a new immigrant’s quest for a mortgage. This would of course involve much higher than normal lending fees, plus additional costs for opening […]

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September 8, 2009

When it comes to mould, prevention is the best remedy

Mould presence can be divided in three categories. Firstly, it is considered to be a “small zone” when the mould covers an area smaller than one square meter. You can clean a “small zone” yourself using a detergent solution such as an odorless dishwashing liquid. Note that, contrary to popular belief, bleach cannot be trusted for disinfection purposes, since too many immeasurable factors must be taken into account.

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May 25, 2009

Penalties assessed due to mortgage contract cancellation. Are they valid or ultra vires?

Financial institutions have many mechanisms to discourage borrowers who wish to benefit from the current low interest rates.
Borrowers wishing to terminate their mortgages are now facing several obstacles even though there exists a law that limits a penalty for a breach of a mortgage contract to three months interest.

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May 1, 2009

Montreal bucks trend as home prices increase by 3.2%

Reading the newspaper this week was truly an eye opener, or was it? Headlines in the Montreal Gazette shouted “Montreal home prices climb”, while the national trend actually indicated the contrary. There has been a country wide decline in home prices to the tune of 4.1%, yet in Montreal we have witnessed an increase of […]

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April 3, 2009

Take advantage of low interest rates, don’t let them take advantage of you

Spring is here and the peak season for house hunting is upon us. Mortgage rates are quite low making the prospect of purchasing a new home, particularly your first, very enticing. The downside to looking while the interest rates are low is that the vendors are psychologically not prepared to lower their asking price. They […]

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March 17, 2009

Are you a gambler?

“Know when to hold em, know when to fold em. Know when to walk away, know when to run.” Prophetic words from Kenny Rogers in his tale of the gambler. I am amazed at how many people out there are closing their eyes to the realities around them. We are in tough economic times as […]

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February 17, 2009

Is the media killing our economy?

“The times they are a changing” to quote my favorite poet of the 60’s and 70’s Robert Zimmerman aka Bob Dylan. In all my years I have never seen the economy crash and burn as quickly as it has this past year. Companies have been downsizing or closing altogether, thus putting more people on the […]

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