Did you file your 2017 taxes on time, yet your NOA is MIA? If so, you’re not alone!
I’ve had this happen with a few of my clients… as well as with my own tax return! That’s right! My accountant filed my personal tax return in April… and for months, I didn’t receive my NOA. Every time I called the Canada Revenue Agency (CRA), they either told me it was coming, they were working on it, or they reminded me they have up to four months to complete the return (FOUR MONTHS!?)!
Well, four months passed… and still nothing! Continue reading “Is the Gov’t Stalling on Your Tax Return? Here’s How I Handled it!”
There’s nothing surprising about the loosening of mortgage standards to spur growth. In the last real housing bubble of 1990, banks and government brought in stricter lending rules, making it tougher for borrowers to get a mortgage.
Fast forward to the present. We’ve yet to see a housing bubble or market crash, but the government has taken drastic – perhaps even unheard of – precautions to slow the housing market.
In 1990, I was working for the largest trust company in Canada. I can tell you that it has never been harder to qualify for a mortgage than it is today!
Continue reading “Looser Mortgage Standards Hit the UK! Is Canada Next?!”
There’s a great new flexible interest-only mortgage product that could prove beneficial for a number of borrowers, including first-timers, real estate investors, professionals, seasonal workers and others looking for lower monthly mortgage payments.
Designed to help borrowers increase monthly cash flow by providing maximum flexibility, this product can be used for both purchases and refinances.
I recently tried this product out and was really impressed!
Continue reading “Looking to boost Cash Flow? New Flexible Mortgage could be a game-changer!”
Our lifecycle goes something like this… Go to school. Find a job (and work hard for 40 years). Fall in love. Get married. Save money. Buy a house. Start a family. Retire on enough pension or savings. Enjoy the results of your hard work. Live in your house until death. Leave the house for your kids.
This is how most of us envision a normal lifecycle. But how often does this really happen? How many people really live happily ever after? What’s the big deal about tapping into home equity to fully enjoy life?
Continue reading “Live Your Life: You’ll never see a U-Haul following a hearse!”
Last Wednesday, the Bank of Canada (BoC) raised its overnight target rate to 1.5% – up from 1.25%. This is the fourth increase since last June, when the target rate was 0.5%.
The timing is suspect to me. Last year, we had an increase around this time, but that was coming off of the hottest housing market in 29 years. We’re currently on the heels of a brutally slow spring market, yet rates are still rising? I don’t get it… this is a poor decision, in my opinion.
When it comes to four rate increases in the past year, there are facts, realities and perceptions that come into play… Continue reading “Why Did the Bank of Canada Raise Rates Last Week?!”