A new trend we are seeing is more people refinancing their homes to consolidate debt and put away funds for the proverbial ‘rainy day’ should it come unexpectedly. There is growing concern about job security in this volatile economy as export manufacturers have seen demand diminish for their products as both the U.S. and […]

  A common misconception about more frequent payments is that they help you pay down your mortgage faster. Bob and Alice brought in their(bank mortgage) amortization schedule. They had been on biweekly payments for 5 years and thought they were paying down their mortgage faster. What they did not know was that the bank put […]

Three years ago we helped a client who was a former bankrupt get a no money down mortgage.  These were the so called ‘subprime mortgages’ which were all over the news as the main culprit for the real estate downfall in the States.  Here in Canada we also had some subprime mortgages for clients who […]

  Three clients (that’s right 3 new clients…what is happening?) called this week all at the end of their rope.  Welling up in our office, all of them told us how the house of cards was caving in.  All three couples had a common denominator.   The financial pressure was so great that they feared losing […]

  Until just recently there was a strong consensus that rates would start rising later this year. Then with last week’s downgrading of the United States credit rating, everything has changed 180 degrees. Peter Gibson, CIBC World Markets was quoted as saying a few days ago, “I think it’s now clear that there are a […]

  Jason bought a house based on a preapproval he received from his bank. When he went to waive the financing condition the bank told him that he wasn’t approvable. That’s when we got involved. We determined that he bought too high, and could not afford the property he wanted. It gets better. His credit […]

BEWARE OF BANK RENEWALS A new client of ours told her bank that she was not renewing with them, and that she was looking for a new mortgage. Banks have the right to put you in a 6 month mortgage, but not a 5 year closed, fixed rate mortgage like her bank did to her. […]

  The opportunity to buy a vacation or investment property in the U.S.A. has NEVER been better. Consider this. U.S. house prices, especially in Florida and Arizona have dropped upwards to 60 per cent. The loonie is now above par giving you extra buying power like never before AND mortgage rates are still near all […]

  Our contest is over and the grand prize winner of a one week summer vacation at a beautiful log home/cottage (Lantern Lane) in Port Elgin in late August is Kim Lesperance from Fergus. Congratulations Kim. Thank you to participating sponsors, The Breadalbane Inn, Tandoori, Stone Creek, The Goofie Newfie, O’Brien’s and The Brew House. […]

  They say the more you earn the more you spend.  And lately we have had clients with big paycheques but with big headaches over debt. The Big Banks love BIG INCOMES.  If you are making six figures or more, you are a target for your bank.  Let’s face it, they have more money they […]