Beware of Early Discharge Penalties!
BEWARE OF EARLY DISCHARGE PENALTIES! Have you ever needed to get out of your mortgage before the maturity date? It can be a confusing and surprising experience. Don’t forget that your mortgage is a legal contract, therefore, like most contracts it is expected that it would cost you something to break it. The lending institution […]
Humanitarian Build Dominican Republic February 2014
Last week I had the honour and privilege of participating in a Humanitarian Build in Dominican Republic. As a member of Builders for Change, a non profit organization located in Barrie, Ontario, we constructed the first floor of a community centre which will house a Boys and Girls Club operated by Dove Mission, a non […]
Report on Home Inspector Qualifications in Ontario
December 13, 2013 The Ministry of Consumer Services released a report on the home inspection industry. What is unknown to most home buyers is that home inspectors in Ontario are not regulated or licensed. The report states “Currently anyone in Ontario can call themselves a home inspector. Many consumers depend on the opinions of their home inspector to […]
Spring renovations are just around the corner. Get started on the right foot!
Choosing the right contractor can make all the difference between having a good renovation experience and a job done that leaves you feeling cheated. Here are some tips for choosing a contractor Ask friends, neighbours and relatives for recommendations of a good contractor. Go to see their work if possible. Find out what kind of work […]
Overspend at Christmas? Have you approached the due dates on your credit card bills?
Did you overspend at Christmas? Having trouble paying off the credit card bills for your purchases? Trying to have a fun filled holiday season can be difficult for many of us. We want to have a good time, and purchase the gifts that our loved ones ask for but we often get caught up in […]
Early Renewal Offers, Beware!
Homeowners should never accept the first rate offer from their existing lender. Without any negotiation, simply signing up for the market rate on a mortgage renewal is unnecessarily costing the homeowner a lot of money on their mortgage. Generally it is a good idea to start shopping for a new term between four and six months […]
Is your mortgage up for renewal? Put the pen down!
So, your mortgage has come up for renewal. Many banks handle this differently. Mostly, they will either send you a letter, or give you a phone call shortly before the renewal date. At this point you will be given a renewal offer including interest rate, with a term that usually reflects your current term. Sometimes […]
Don’t get caught in the cold. Winterize your home now!
With the closing of our family cottage last weekend and the frigid night temperatures we endured I have come to two realizations. Number one – don’t wait until Thanksgiving long weekend to close the cottage next year. We keep trying to stretch it further and further hoping for a warm weekend so we can enjoy […]
Mortgage Financing for the Small Business Owner Part 2
Since most lenders want to verify the income during the mortgage application process. Often a business owners tax return, business financial statements and records of business activities are used as methods of verification when the claimed income provides enough to warrant qualification for the mortgage being requested. Many lenders will want to insure it through CMHC or Genworth. But […]
Mortgage Financing for the Small Business Owner
Those of us who are self-employed know the rewards of working for ourselves. We enjoy working to our own schedules, being our own boss, running our businesses the way we want to and being responsible for our own successes and failures. Many of us work out of our homes and enjoy many tax write offs. […]