Mortgage financing is complex – too complex to trust it to what you can find in the “cloud.” Statistically speaking, each mortgage process involves upwards of 43 people, 100 to 150 phone calls, and reams of paper. If you or someone you know is trying to save money by looking to the Internet for mortgage [...]
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 [...]
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 [...]
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 [...]
If you’re happy paying the banks more than you have to, STOP reading right here. BUT, if you’re tired of being hoodwinked, read on – For fun, I just called up the bank and asked them what their best 5 year rate was. Guess what they said… Well, our posted rate is 5.39%, but if [...]
Welcome back Mark Fidgett here for www.notapennydown.com Just got off the phone with a VERY distressed home owner. Imagine losing your job, just as your mortgage is about to come up for renewal. Talk about bad timing! I’m going to share with you exactly what I told my client. I’ve got a secret to tell [...]
The quick answer is “Not Necessarily”. Before you rush out to pay off student loans, vehicle loans, visa’s and mastercards’s, you may want to call me first. Paying off your bills depletes your savings and may eat up the cash you were planning on using towards the down payment. Don’t get me wrong, being debt free is a great idea, but if it hinders your purchasing ability, it might not be your [...]
Lenders are in business to make (not lose) money. Consequently when a bank lends money it wants to ensure that it will get paid back. To maximize the possibility of being paid back, the bank wants to make sure that there is sufficient assurance that a person can and will pay back a loan. The [...]
So you’ve found the home of your dreams. Imagine buying it, only to find out that it was a previous Marijuana Grow-op. The Property Disclosure Statement DOES NOT protect you. Remember, the Property Disclosure Statement or PDS as it’s referred to in the industry, is simply a bunch of questions that the seller must answer [...]
The kitchen is the heart of the home, and it’s the most highly valued room by buyers, so you want to make it show its best. Here are some tips to create a captivating kitchen: You can cut down on visual clutter by removing items you normally store on the counter. This will help your [...]
