Archive for July, 2011

Fact sheet First-time home buyers’ tax credit What is the first-time home buyers’ tax credit (HBTC)? The HBTC is a non-refundable tax credit for certain homebuyers who acquire a qualifying home after January 27, 2009, that is – closing after this date. How is the HBTC calculated? The HBTC is calculated by multiplying the lowest […]

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The CBC did a great article on mortgage Insurance that I wanted to share with you. If you have a mortgage on your home, chances are good you also have mortgage insurance. The idea is that if you should become seriously ill or die before paying off the mortgage, the coverage will kick in and […]

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First, let me explain exactly what a collateral mortgage is. In laymans terms, the bank offers the client the perceived benefit of agreeing to a higher charge on their home. The value proposition, if values go up and you ever need extra cash, you don’t need to reapply for it. Kinda like a built-in line of […]

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We all know the lure of Vancouver, but why are the wealthy Chinese so keen to purchase properties in Vancouver? Sure the Economist Intelligence Unit (EIU) again named Vancouver as the “Most Livable City in the World” for 2011, but that’s only one reason Vancouver real estate prices are red hot. But why are wealthy Chinese bidding up […]

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Here’s a quick note to let you know how you and I can help anyone you feel comfortable introducing me to. When I got a call from, Francoe, the son of an old client, he told me that he was shopping around for a mortgage, and he was comparing rates.  I explained that there is […]

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While reading one of Robin Sharma’s older posts this morning, it really reminded me that Leaders are at their absolute best during messy cycles versus during the easy ones. And messy cycles bring with them gorgeous opportunities. Here are 50 powerful rules to amp up your game so this business cycle is one of your […]

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You may want to think twice about your divorce after Canada’s top court ruled Thursday that a discharge from bankruptcy destroys the right to enforce a claim for equalization of property in some cases. Unless you live in BC… As seen in the Financial Post: When dividing up family property, if one spouse owes the […]

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Are house prices in Canada on the decline? TD thinks so… Or at least a “moderate correction” The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday. Calling it a “moderate correction,” the report’s authors […]

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Apparently, the finance ministry’s legal oversight of the pink elephant, aka CMHC, was long overdue… In March, Maclean’s warned that the Canada Mortgage and Housing Corporation, the quasi-governmental insurer that underwrites $500 billion of residential mortgages, answers to no one—not Canada’s top financial regulator or even the minister of finance. That all quietly changed last month […]

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You may be surprised to learn how long certain information, actually stays on your credit bureau. As you probably know, credit is one the most important factors in the mortgage approval process. The length of time that information must stay in your report depends on: the province or territory where you live, and the type […]

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