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Posted 1 Comment on Problem & Solution: I Bought A New Home, But Haven’t Sold My Old One Case study

Problem & Solution: I Bought A New Home, But Haven’t Sold My Old One

Higher interest rates are causing a lot of problems for homeowners. Not just in terms of being able to purchase a home – but also in terms of being able to sell the existing one. Unfortunately, this is a problem I’ve been getting far too many calls about these days. Finding a new home is really only half the battle. Selling your current home to complete the transaction is the real challenge, especially in this market.

It’s easy to feel stuck when you’re in this situation. Luckily, with the right people and the right guidance, there’s always a solution. Here’s an example of a client we were able to get out of a pretty tight corner.

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Posted 1 Comment on You Might Sell Your Home… And Not Even Know It Mortgage News

You Might Sell Your Home… And Not Even Know It

Well, it’s happening again. Scammers are coming after innocent homeowners, assuming their identities, and selling their homes on their behalf. It’s disgusting behaviour that’s made even more possible by a precarious housing market. Unfortunately, this isn’t anything new. Scams like this have been happening for decades. The only thing that’s changed is how the fraudsters do it.

In most recent cases, homes were sold by tenants who used fake IDs and job letters to rent the houses. Once they’re in, they assume the identity of the homeowner, take out a mortgage in their name, and use a realtor to list the home.

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Posted 2 Comments on When Will Variable Rates Stop Climbing? Bank News

When Will Variable Rates Stop Climbing?

For millions of Canadians, the Bank of Canada meetings are a major cause of anxiety. Will rates go up? By how much? Will I continue to be able to meet my monthly mortgage payments? It’s only natural to ask these questions. Recent hikes have been dramatic to say the least. And to make matters worse, the media has a way of making everyone feel like these hikes are in a perpetual uphill climb. 

But in my opinion, a plateau is coming sooner than expected. 

Continue reading “When Will Variable Rates Stop Climbing?”
why rent when you could buy
Posted Mortgage News

The affordability of homeownership… Rent or Buy?

why rent when you could buy

After years of seeing countless articles and posts about interest rates, housing affordability issues, mortgage stress tests disqualifying some people from being able to buy, higher personal debt levels, does it still make sense to buy a home?

Yes! There is positive news. You can still buy a home. And you can still qualify for a mortgage.

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Get a secured line of credit while you can qualify.
Posted Mortgage News

My advice is simple: Over 50? Get a secured line of credit while you can qualify.

Get a secured line of credit while you can qualify.

Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.

The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend as needed. Many successful investors have been doing this for decades. Borrowing to invest makes smart financial success. Don’t let anyone tell you differently.

We’re seeing more reasons for Canadians to get a secured line of credit now: Age; Income; and Qualification.

Continue reading “My advice is simple: Over 50? Get a secured line of credit while you can qualify.”