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 “NO PROBLEM” only to end up disappointed if you have any credit issues whatsoever. The only thing your bank will tell you is that ‘Your credit is not acceptable’ without telling you why, and that they cannot help you. Not very helpful is it, because they leave you completely in the dark. And you leave your bank feeling like you are a loser, when you are anything but.

This is one of the big advantages we have over the banks, and there are many more. We review your credit standing in great detail with you. If there is an issue, we either structure the mortgage application to overcome the issue, or we show you how to correct it, and get you into a position to qualify for the mortgage you need.

Very few people even check their credit rating on their own once a year, which is recommended. Even if you understand how to maintain a good credit rating, you should still check periodically to make sure that nothing is on here that should not be. It happens more than you think. Mistakes, confusion by creditors about people with same or similar names etc., and then there is fraud, which has become incredibly sophisticated, evasive, and rampant these days.

When arranging a mortgage, the banks are very limited. They only have a few mortgage products, whereas we have only 40 lenders, and hundreds of mortgage products.

Then there is ‘Advice and Service’. We constantly hear from clients that ‘the bank never told me that before’ and ‘We can’t believe how easy it was to deal with you, and how responsive you were’

Why limit your options with a bank? Why put up with inferior advice and service when you don’t need to anymore. Folks, this is all we do. Mortgages, and we are the experts. Our industry has become mainstream. we have a 35% market share and its growing rapidly, mainly because Canadians are dissatisfied with their bank, and because many are learning that dealing with an experienced mortgage broker expert, is the best way to go…and they are telling friends and family like wildfire. if you haven’t used our services before, isn’t it time you did?

Would your bank call you up and suggest that they give you an ‘all time low’ interest rate now, instead of waiting for maturity next year, when rates will be higher. Of course not. The banks are looking out for their interests, not yours.

Well folks, we are dedicated to look after your interests. WE OFFER YOU A LOWER(than bank) RATE AND WILL SAVE YOU THOUSANDS OF DOLLARS over the next term. WE GUARANTEE IT. And you don’t need to be concerned about the penalty. If there ever is a WIN/WIN this is it.

if your mortgage is renewing soon, later this year or even next year, we can help you SWITCH LENDERS FOR FREE, that’ no penalty*** no legal or discharge costs AND we’ll get you a better rate(saving you thousands more) than your lender will offer you.

If your current mortgage rate is 5 per cent or higher, we can save you big money and secure you an ‘all time’ low rate for another 5 years. How does a 2.1% or 3.84% mortgage sound to you. Please check out ‘our rates” at www.ronandtracy.ca. and see how much lower our rates are than the banks.

If you are thinking about refinancing to pay off your consumer debts, we may also be able to help you with the penalty. Invariably, the savings we fnd you far outweigh any penalty.. Most often, we can reduce your total monthly outlay by over 50%. for example, if your mortgage payment, credit cards, and loans total $3,500 per month, we can help you reduce this to $1,750 or even less.

Use the savings to take that trip you’ve been dreaming of, renovate your kitchen or buy a new car with cash(and eliminate a car payment) etc. Won’t that feel so good paying cash for a big ticket item. All you have to do is pick up the phone now and call us for a no obligation analysis. Do not delay, act now. Lastly for this week, we want to emphasize the importance of dealing with an experienced mortgage broker. Please be very careful who you choose. There are many new inexperienced mortgage agents out there that quite frankly do not know this from the stories we are hearing from new clients. They either received bad service or bad results. We are not slapping anybody. We are simply speaking the truth.

Certain conditions apply.

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 Canda to increase rates further.

Last week we heard that rates in the U.S. will not increase until at least 2012 and since Canadian rates cannot be more than 2 per cent above U.S. rates we have to put on the brakes, otherwise our dollar will soar, exports to the U.S. will drop sharply putting us back into recession. The U.S. economy is still very fragile and unemployment is much higher than published. In fact, consumer prices and wages in the U.S. have declined 3 months in a row, which has given rise to new fears of DEFLATION. If you think about it, the U.S.(led by housing) has been in a deflationary recession for at least two years now.

Deflation can be as damaging as inflation as prices(including housing prices) fall, incomes fall, job losses climb etc. What is also worrisome is that credit card rates are climbing at a time when we have record levels of ‘consumer’ debt. We should also point out that the banks are increasing the minimum monthly payments to 3% of balance, which makes it more difficult to pay consumer debt.

Recessions, historically have been caused by excessive inflation. Now there is a possibility here in Canada of a recession driven by deflation. There is also still a possibility of a ‘double dip” global financial crisis which would create a new credit crunch. What we do know is that the real estate market has cooled. We view this as positive actually, since the market is now more balanced, and the fear of a ‘bubble’ has disappeared.

Folks, if you have any consumer debt, whether you are feeling pinched or not, now is a good time to eliminate that (bad) debt now. Debt is debt, however high interest debt is referred to as the ‘devil’ in finances. Using one’s home equity to eliminate high interest debt is the best way to get on sound finncial footing.

Call us today for a free evaluation of the potential costs and savings, and the option of getting a customized mortgage product that better matches your circumstances. As experts in mortgages, our mission is to save you money, provide you with professional, unbiased advice, advice you won’t get from your bank.

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 the deal needed our expertise to figure out how this nice family could get into ther first home. Well it took some work. We suggested ways to reduce the amount of debt. They paid down what they could and their parents helped them out.

With 47 lenders including all the major banks in our arsenal we were able to find a lender who would consider the couple’s child tax credit of 1200 per month.

This couple was able to find a beautiful home with inground pool for the same money they were paying in rent. There is nothing better than a motivated buyer!

This couple just needed to hook up with us in order to make it happen. Ross and his little children will be swimming in their pool in a few weeks. We just love helping first time home buyers!

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) generally do not offer existing clients as good a rate as they do, new clients. This is true even if you pay the full penalty.

What a travesty, over 80% of Canadians blindly renew/refinance with the same lender, without asking any questions, throwing their money down the drain.

Tracy and I always get every client the absolute best rate, the first time, every time. We are like the TV guy from Ing who consistently gives a message. “we save you money” Well folks, he’s working for the bank isn’t he. WE WILL SAVE YOU MORE MONEY? We work exclusively for you and are committed to finding you the lowest rate, guaranteed. Question. Why do the banks not post/advertise their best rates like we do. We are transparent, whereas the banks are not. Check out our rates atwww.rontracy.ca

There are many ways we save you money, not to menion, provding you with invaluable, unbiased advice and superior service and convenience, with mortgage products that will save you even more.

DID YOU KNOW:First time home buyers and the uniformed are easy ‘prey’ of the banks because they lack both knowledge and experience. Choose us first and you will be in the best of hands. We care, we educate and we deliver. CURRENT 5 YEAR FIXED BANK RATE is 5.79% as compared to our best 5 year fixed rate of3.79% WOW

Mortgage brokering is not a new phenomenon, it has been around for decades. In the past, only those who had bad credit would use the services of a broker. As higher risk transactions, generally rates would be higher, loan to value ratios were lower(than mortgages with good credit risks)and brokers were paid for their service by the borrower(called a broker fee),not the lender. Brokers dealt primarily with private lenders as opposed to institutional lenders, and were used as a ‘last resort’

Today’s mortgage broker industry is growing in leaps and bounds because it specializes in all types of mortgages, credit types and financial circumstances. However, mortgage brokers are increasingly chosen as a ‘first’ source of prime lending needs, accessing hundreds of mortgage products and dozens of mortgage lenders in finding the best ‘fit’ for today’s clients. Now, one in every four Canadians choose mortgage brokers because they recognize the many benefits of having a mortgage professional work in their best interests to get them the best possible solution.

Today’s reality is that consumers are realizing more and more, that finding that best mortgage can best be done with the assistance of a professional mortgage broker, as opposed to doing it themselves. today’s mortgage market is more sophisticated and complex than ever and it encompasses a mind boggling array of mortgage options. As a result, the vast majority of brokered mortgages today are prime institutional mortgages as opposed to private mortgages, and the best news, is that the broker’s services are usually free of charge as institutional lenders pay mortgage brokers a ‘finders fee’ for originating mortgage business.

Brokered mortgages not only mean a superior end result, but also save the consumer time and money, often considerable money. In short, those who have used the service know first hand that is a ‘win win’ scenario, and they usually have no hesitation in recommending it to friends and relatives, especially since they know that their mortgage broker acts ‘in their best interests’, is on ‘their side’ and is much more accessible/available than the bank, which invariably means better service.

So, to answer the question “Who uses mortgage brokers?” People who want the best service, unbiased; professional advice, and ‘one stop shopping’ access to the best rates, mortgage products and terms in the marketplace, that’s who. This means that still 3 out of 4 Canadians are likely making higher mortgage payments than they need to, and are paying thousands of dollars in interest to their friendly banker, that otherwise would go in their pockets. Smart people also have learned that they can obtain the lowest rate the first time, everytime without having to negotiate with the bank(which is often not possible) because skilled, knowledgeable brokers do this for them.

Today’s 5 year fixed bank rate is 5.95%. Our best Variable is .60% below prime or 2.15 % Visit us at www.ronandtracy.ca

We are excited and pleased to announce that we just received news that we are # 1 in Ontario out of some 1,700 mortgage consultants.

Tracy, myself and our assistants Jim and Laurie love making a positive (sometimes huge) impact on people’s lives. Whether it be helping folks buy their first home, moving up to that dream home, helping others save tens of thousands of dollars or helping peopkle get out of dire circumstances with creative solutions, ours is a hugely interesting and rewarding business.

The one thing that stands out after ten years building our business in Wellington and beyond, is the number of referrals and the repeat business that we receive. This is proof positive that we have built a solid reputation as mortgage professionals in the industry, as well as broad recognition through-out the region.

What we hear most often from clients is ‘that we really care’, and in a recent testimonial from Kathy in Kitchener was very gratifying. Kathy wrote us this email in response to our thank you letter for a referral she sent us: “Tracy I can’t thank you enough and will keep referring people as much as I can. I have never met such a fantastic woman as you who does the utmost best for her clients. “You are one in a million”  In addition we placed # 13 in Canada.

Please call us today to discuss your needs. You will be so glad you did!

Jennifer has been a client of ours for ten years. When her marriage broke down and her credit was in the toilet, we were able to help her keep her home by having her father co-sign.

We were there cheering Jennifer on when she landed a good job in sales a nd we helped and guided hervas she re-established credit. In January, we gave Jennifer a call to see how she was doing. Her life was definitely on the upswing. She now had a newcar which replaced the old clunker she used to drive but she now had a lot of debt she felt she needed to amalgamate into her mortgage. It deserves mentioning that Jennifer had listened to our advice to go with a variable rate mortgage at .60 below prime, three years ago., so in fact she had paid a significant amount off her mortgage, so refinancing was now an option.

First thing we looked at was Jennifer’s credit. It was stellar except for a R5(which means 4 payments behind) Jennifer was extremely disheartened because she had worked so diligently at improving her credit. Upon further investigation we learned that her bank had pulled a ‘dirty trick’. They reported her chequing account overdraft of $500 on her credit bureau and through some administration mistake, her account was showing as delinquent. Normally banks don’t report overdraft accounts but we are seeing the odd one now. We encouraged Jennifer to call the credit reporting agency Equifax and her bank to get the mistake rectified. She made numerous calls and didn’t really get anywhere. As consumers, it is very difficult to get mistakes corrected at Equifax, and no wonder people throw their hands in the air and give up. We continued to monitor Jennifer’s credit over the next few months and lo and behold the R5 finally showed up as paid. It was still not correct but the best we could get. So we offered an explanation for the recent blip on the credit bureau when we applied for a new mortgage. when Jennifer found out that we were able to amalgamate her car loan and her Visa into a new mortgage at a rate of 2 percent at the same mortgage payment she had previously, she practically fainted. But she was even more surprised to learn that she didn’t need her father to co-sign anymore and she could now stand on her own two feet based on her income and good credit. Helping people like Jennifer is what we love to do the most. If you are in similar circumstances please give us a call, ande if we can’t help you right now, we’ll show you the path to success.

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‘We gotter done’ as they say in the country. In the past if you were self employed for less than 3 years you had trouble getting a mortgage. But the rules are now changed.

It’s now easier for newly self employeds than a person who has worked years as self-employed. The old rules wanted job stability for self employeds now the federal government in its wisdom says new self employed should have easier access to money

We just had a client who has had a business for less than a year approved through a refinsnce at 90 per cent of their property value. The clients had purchased a house three years ago for $214,000 at a rate 0f 5.3 percent and were paying 1256 dollars a month. Today’s new value came in at $255,000. So they realized about 40 thousand dollars in new money.

They are using that money to pay down debt most of which came as the resultof being laid off for a few months and the start up costs for the new business. The rest of their money will be used to help grow the business.

With amortizations still at 35 years we were able to give them a payment of less than 800 dollars per month. The only documentation needed was a a master business license to prove they had been in business for less than 3 years and last years Notice of Assessment

They did not have to prove any income. The moral of the story is if you are newly self employed and need to refinance or purchase there is a wonderful opportunity now to get a very good mortgage. the client chose a variable rate at 1.75 per cent and their mortgage closes next week.

A certain bank lender(we can’t name them) has an ad saying ‘UNMORTGAGE’ YOURSELF’, trying to compel you to take their five year fixed mortgage rate of 4.49% with the suggestion that you can pay down your mortgage ‘faster’…NOT

Let us give you a better solution. Take our 1.95% mortgage and pay your mortgage payment at ‘their’ rate. then you can ‘REALLY START PAYING OFF YOUR MORTGAGE SOONER. We, not the bank can ‘PUT MONEY IN YOUR POCKET’ Can we be any clearer?

Folks don’t be fooled by these ‘slick’ ads. If it is a bank, then please realize that they are looking for profit, and the deal they are offering you is not nearly as good as the one we can give you.

Why would you go to one institution when we can give you access to over 50 lenders, that’s right. and many of them are way more competitive than your own bank. We have written many times about putting all your ‘eggs in one basket’ Ask yourself, “does my bank deserve my loyalty when I have to fight them every time in order to get the best rate? If you are a long time good customer, your bank should without question give you their absolute best rate. We see it all the time. People get a rate from their bank and then they come to us and ask if we can do any better. We always can. Sometimes we keep the client with their own bank but at a better rate than they were quoted by their own institution. Clients are absolutely shocked.

 As a rule, banks are banking on you not paying attention or caring that you are paying too much interest. That’s how they get their ‘insane profits’ Remember, you are doing them a favor not the other way around.

Folks, we are mortgage experts offering you the absolute best interest rates, terms, products and service. Period

Call us today, especially if you read us in the ‘Welly’ every week. We love to hear from loyal readers and we write our own experiences with the mortgage business and people like you.