Lines of credit(LOC) are popular products pushed by the banks because they can earn better interest for the bank than variable rate mortgages and human nature being what it is, people have difficulty paying them down. Most new clients are unaware their LOC may be secured against their home as a  mortgage. The positive side […]

We are delighted to announce that THE PRICE TEAM now assists home buyers with moving expenses.* “We aim to make the home buying process as convenient as possible” says Tracy, and we love, absolutely love helping to educate first time buyers on the entire process. We will assist you in selecting service professionals by recommending […]

It’s insidious and it’s just plain wrong when your bank uses the guise they are helping you when in actual fact they are hurting you. When the banks are doing everything in their power to rob Canadians of their financial wealth and their interest, fees, penalties and ‘tricks’ it’s time to stop trusting the bank. […]

Many Canadians dream of owning rural property(including farms) with lots of land AND low taxes. For decades mortgage lending on rural properties with ‘acreage’ has been restricted to the value of the house and 1 to 5 acres maximum, depending on the lender. This meant that purchasers were required to bridge the gap with their […]

That’s the Taco Bell slogan. It’s meant to remind us that fast food doesn’t end with hamburgers. In the world of mortgages, the closest equivalent to “the bun” is the 5 year fixed mortgage. It has been the most popular mortgage/term in Canada for decades. Why? Because Canadians are(generally speaking) ‘risk averse’ and so we pay […]

Awe the call to the land…the open space, fresh air, low taxes. it could be the fond memories of driving the tractor with dad as a kid, or weekends at grandpa’s farm. It could even be finding a plac when the neighbour can look into your kitchen. We hear it lots. We want to buy […]

The federal government’s deadline is coming up fast. As of March 18th Canadians will no longer be able to refinance up to 90% of the value of their homes. It is being reduced to 85%, meaning that 15% of your home equity will become ‘untouchable’. In addition, the maximum amortization on ‘all’ mortgages will be […]

About a year ago, the bank arbitrarily sent a letter to Cindy and Len telling them they were raising their line of credit which was collaterized against their Guelph home from prime, to prime plus one per cent. We have written about this before; clients have no protection on these collateral mortgages as the bank […]

Jill from Fergus called after being referred by a good friend who had a pleasant experience dealing with us. “if anyone can help you, these guys can,” she told Jill. Jill is a single grandmother who worked in a local factory until one day she could not lift her arms. Long story short, she was […]

Mark Carney, governor of the bank of Canada this week issued a broad warning that the economic crisis is far from over, that consumers need to ‘rein in’ their appetite for cheap money. Carney said that household debt is too high(increased 7% in 2010 vs. a 3.5% decline in the U.S.) and that ‘inevitably’ there […]