Some may think that a mortgage and a Visa would not be directly related. One being ‘good debt’ and the other being ‘bad debt’. However, in the banks world they mean the same thing and can come back to harm you in a great way. A collateral charge mortgage have a couple reasons why they’re […]
Why It's Important to Talk to A Mortgage Broker
Collateral Charge Mortgages
CBC did a follow up to it’s report a little while back I had blogged about. Now I’m not saying collateral charge mortgages are the worst product out there, I’m saying that they are not for everyone and if you had a choice to not have one, then don’t as it can restrict what you […]
First Time Home Buyers Tax Credit
Introduced as part of ‘Canada’s Economic Action Plan’ to assist Canadians in purchasing their first home. It is designed to help recover closing costs such as legal expenses, inspections, and land transfer taxes so you can save more money for a down payment. The Home Buyer’s Tax Credit, at current taxation rates works out to […]
How Brokers Operate: Some Stats
This is a pretty interesting article with some interesting stats. Thankfully I’m on the good side of this and live and breath mortgages daily and have for 10 years! The vast majority of mortgage brokers recommend suitable mortgages, according to a new report from the Mortgage Broker Regulators’ Council of Canada (MBRCC). That’s vital because, […]
CIBC Mortgage Penalty Law Suit a Go
CIBC’s law suit against them is a go and could pose to be a very historic time for the way banks calculate their penalties. We’ll just have to wait and see! And it doesn’t just stop in 2009…it’s still happening. A B.C. court says the mortgage penalty class action against CIBC can proceed. The court […]