27 Oct

DO YOU MOVE EVERY 3.3 YEARS?

General

Posted by: Tracy Luciani Price

An interesting statistic that just came out from Stats Canada is that Canadians move, on average, every 3.3 years. At first blush, this seems a lot of moving doesn’t it? Some people live in their very first  home until they retire, but this is the exception. Tracy and I bought in Fergus this past summer, […]

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8 Oct

MORTGAGE MAYHEM IN THE FINE PRINT

General

Posted by: Tracy Luciani Price

Restrictions contained in the the fine print of your mortgage could cost you thousands of dollars. Often these restrictions are contained in the fine print and often homeowners are not even aware of these restrictions until they find the need to break their mortgage. This is why it is so important to talk to the […]

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8 Oct

IT’S ABOUT TIME BANKS CAME CLEAN ON PENALTIES

General

Posted by: Tracy Luciani Price

Quite frankly, it’s long overdue. Our mortgage industry has been pushing for years for banks to clearly define their penalties. Finally a few lenders are now putting their penalty clauses in their commitments but most have them contained in a 30 page mortgage charge which is given at the lawyer’s office(which clients never read) as […]

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27 Sep

RENEWING EARLY PAYS OFF FOR DRAYTON COUPLE

General

Posted by: Tracy Luciani Price

Rose called after reading in one of our previous articles which stated that it would be better to call us about six months prior to mortgage renewal. We encourage our readers to call sooner rather than later so we can check credit, book the best rate, or help clients get ready for the maturity of […]

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20 Sep

BANK PRE-APPROVAL GONE WRONG

General

Posted by: Tracy Luciani Price

Pete called in a panic. He went out and bought a house based on his bank’s pre-approval. The Agreement of Purchase & Sale gave him 5 banking days to obtain financing, otherwise the deal becomes null and void if he does not waive the financing condition, thereby firming up the purchase. Not only did the […]

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13 Sep

NEED A MORTGAGE? WHO SHOULD YOU CALL FIRST?

General

Posted by: Tracy Luciani Price

When you need advice about where you stand, credit wise that is, before you apply for a mortgage, who  should you call first? folks the answer here is anything but gray, it’s black and white. The answer is us. When approaching your bank first for a mortgage, you are likely to be told at first […]

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23 Aug

INFLATION…DEFLATION? WHICH IS IT?

General

Posted by: Tracy Luciani Price

Over the past quarter, we have seen some rates dip versus increase as predicted. Yes bank prime increased two times but fixed rates have come down and the discounts on variables mortgages have become more attractive as well. New reports of moderating inflation coupled with slowing recovery have taken the pressure off the Bank of […]

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10 Aug

BANK DECLINE DOESN’T STOP KITCHENER COUPLE FROM PURCHASING

General

Posted by: Tracy Luciani Price

Ross was a guy who just doesn’t give up. When his mother(who got her mortgage through us) asked us to help her son, his wife and her three grandchildren we knew our work was cut out for us. Although they had good credit, their debt load was too high to fit any bank’s criteria. But […]

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5 Aug

GETTING A MORTGAGE IS MUCH MORE THAN ABOUT THE RATE

General

Posted by: Tracy Luciani Price

Although even 1/4, 1/2 to 3/4 % can mean tens of thousands of dollars more interest. When you renew or refinance with the same lender(on your own, without a broker), you are likely not getting the best rate. As a matter of fact, we can also guarantee it, because most lenders(banks and non banks alike) […]

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