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Posted by: Tracy Luciani Price
We are born into this world into a home with our parents. Home is where the heart is. Home is where we feel safe, a place where we can let our hair down, have fun and be ‘us’. Home can be in an igloo, a wigwam, a cottage, a rental or a home that we […]
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New subdivisions are popping up all over Ontario but many unsuspecting buyers are getting trapped by the financing available by the builder. The longest ‘Hold’ period on mortgage rates for resale housing is 120 days / 4 months. For new build housing the banks offer ‘Capped Rate’ mortgages to buyers for 6 months or more. […]
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It’s a Sellers market out there…and a hot market too! With it can come disappointment if you are not properly prepared. You, your realtor and the seller all think you have been pre-approved and you are on solid footing. You purchase only to find out there is a blemish with your credit, or because you […]
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As some of you head toward retirement it’s time to start thinking about the mortgage you are carrying. Too often we see clients who wait for a health crisis and then come to us for help. Remember, it’s very difficult to get money from a bank when you are retired. Strategize with us before retirement […]
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TOP 7 REASONS TO AVOID A BANK MORTGAGEBack in 2010 the Big Banks introduced a new mortgage product called a ‘CollateralMortgage’ (CM). Today, Banks no longer offer the traditional ‘standard charge’mortgage. CMs are dangerous and should be avoided. Here’s why:1. CMs act as revolving credit giving you global limit access for potential future needswithout the […]
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CBC MARKETPLACE EXPOSES UNDERSIDE OF BANK MORTGAGESIf you own a house and have a mortgage, you must get informed about what’s reallygoing on with bank mortgages. In fact once you’ve watched these episodes, you will beshocked, disgusted, even appalled and angered.Kudos to CBC MARKETPLACE for doing such a good job and a public service byexposing […]
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ELIMINATE DEBT BY MOVING UP WITH ONLY 5% DOWNMost home owners think that only first time buyers qualify for the minimum 5% downrule and that 20% down is required.Not true. The 20% equity rule applies to refinance only. Yes it used to be the 5% downwas only for first timers and to qualify you could […]
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ARE BANKS BECOMING MORE LIKE CASINOS?While this is a simple question, the answer is much more complicated especially when itcomes to a mortgage.Let’s start with the graphic of Mr. Potter (a former movie actor) which reads “THEHOUSE ALWAYS WINS!” Well that is definitely true of both casinos and our banks aswell isn’t it?If you think […]
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BIG SIX BANKS REPORT ‘OBSCENE’ RECORD $34.8 BILLION IN PROFITS FOR 2015…AND STILL COMPLAINING! This heading is from ‘CanadaMortgageNews.ca’ and we think, is really a headline that deserves some deep thought. “RBC reported a $10 Billion annual profit for 2015, almost a third of the whole, gigantic profit pie. Yet they are crying the blues […]
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RATES GOING DOWN LIKE GAS PRICESExactly one month ago the Financial Post carried a front page article ‘Why HomeOwners And Buyers Can Expect More Rate Hikes From Big Banks’. This was after RBChad raised its rates 10 basis points followed quickly by two others. The article gave theappearances of perhaps being bank inspired.This appeared to […]
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