Is Financial Stress Making YOU SICK!  

By Tracy Luciani Price  

After looking after hundreds of clients and their mortgages over the past 15 years we believe there is a direct correlation between financial problems and sickness.  

Chronic stress over finances is literally making people sick and it is usually women first.  There is a root cause to many people’s illnesses that a pill, a doctor, a naturopath, a massage therapist or a surgeon cannot cure.  For men, the stress of not providing enough money can give them a heart attack one day.   

It can start with chronic overspending– more going out than coming in.  Both wife and husband who earn an income both spending with no real accounting or budget.   There are so many pressures today with kids’ school, cell phones, internet, mortgage, car payments, good running shoes and recreational events.   Kid’s hockey can cost a $1,000 a year with travel and equipment!  The blame game starts.  Couples who began their relationship on a solid footing are all of sudden arguing and fighting all the time , the stress levels ramp up, and someone gets really sick.  

Or it can begin with a job loss or a job with no real personal satisfaction after year after year doing something they hate, just to bring in a paycheque and then sickness creeps in.  Then there can be putting years of dedication to an employer to find yourself all of sudden, redundant.  You’re 50 years old and no one wants you. Trying to live on less money and depressed about it for years and all of sudden you get cancer.  

Our bodies whisper to us and we are masking our problem with pills, over the counter medications and quieting the whispers with alcohol and drugs.  They tell us things aren’t right with us but we don’t listen.   And then one day, after hundreds of days of whispering to us, we get a horrible debilitating disease.  But the root of the disease was the stress over finances.  

It’s easier to fix your finances while your body is still whispering, rather than wait till a health crisis strikes.  We are here to listen and to help.    Mortgages are our business, but we are here to help people change their lives for the better.  

WHY YOU SHOULD NEVER GET A MORTGAGE FROM YOUR BANK  

By Tracy Luciani  

The age old adage is so true, ‘DON’T PUT ALL YOUR EGGS IN ONE BASKET.’  Yet so many homeowners do without realizing the huge risks they are taking, by doing so.   If people thought about it for just a second, it makes no sense to give up all your control to one bank, YOUR BANK!    

In essence if you do, YOUR bank owns YOU!  Your paycheque, your mortgage, your visa, your line of credit and your bank accounts.   If you don’t make a payment on any of these debts, the bank has the right to access your bank account and paralyse you.   We have seen it many, many times, good people who always pay their bills, one day have a problem.  People have lost the homes because the bank had total control of everything.     Keep control on your finances by making sure you do not take a mortgage with the bank you deal with!  

Scarier than this, is many of the major banks and some credit unions are putting collateral mortgages on their clients homes.  The mortgage is registered up to 125% of the value of the home.  Since many of these mortgages are closed in the branch, many homeowners do not know the bank has registered the mortgage much, much higher than the actual debt.  If you don’t know whether or not your bank has registered a collateral mortgage against your property, a simple title search will tell you.     

Sure we all need our banks for our chequing and savings accounts so we can manage our financial affairs.  But why give your bank, unbridled full control over everything! We have many lenders who are not banks which offer better rates, a mortgage for only the amount that is borrowed and with much reduced penalties in the event you sell or refinance. And you don’t have to change your banking because the debit for the mortgage can be with a void cheque from your bank.   Sure we still deal with the major banks in some mortgage situations but we make our clients aware of what’s in the fine print of their mortgage commitments and caution them about the pitfalls of a collateral mortgage.  Call us for the best mortgage advice each and every time.