Consumer Debt Problem

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Consumer Debt Problem The Canadian Government has intercepted to try and help consumers stay out of debt by making mortgage rules difficult. It currently allows refinances to 80% of the appraised property value. This was done to keep consumers from accessing their home equity and using it as an ATM…
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Fixed vs Variable Costs?

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Fixed vs Variable Costs? Which is Better? Understanding the differences between a fixed-rate mortgage and a variable rate mortgage is important when considering a loan. Whether you are buying, refinancing, or doing a debt consolidation, understanding the differences between fixed and variable interest rates can help save you money and…
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Covid 19, Defer Mortgage

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How to stop Mortgage Payments during the Covid 19 (Corona Virus Crisis) To proactively ward off damaging your credit there is a Federal support program in place that you can stop or defer payments if you reach out to your current banks (lenders) directly. Preserving the stability of the housing…
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Legal Separation?

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Separating from a spouse is emotionally draining. This is often compounded when the largest asset in many relationships, the matrimonial home, is a factor. Sometimes, both parties want to sell and buy new homes but other times, one person may want to keep the home and pay their Ex out…
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Prime Rate Drops

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As you know, your variable rate mortgage, line of credit and/or student loans are all based on the Prime Rate and here is your personal update from me on the recent Bank of Canada announcement on changes to their Overnight Rate which in most cases impacts your Prime Rate. At…
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Mortgage Review

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The latest indicators from Canada Mortgage and Housing Corporation suggest the country’s housing market has stabilized but there are pockets of concern. The agency has held its overall market vulnerability rating at moderate for the fourth consecutive quarter. Canada’s realtors continue to build on optimism triggered by a surge in…
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Identity Theft

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Identity theft has been on the rise so I thought I would share some information to protect yourself from identity theft. How to Spot Identity Theft 1. Review your credit report regularly to spot suspicious account openings. 2. Check banking transactions regularly. Report anything strange immediately. 3. Recognize, and look…
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Property Assessments

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AB Assessments vs. Market Value Provincial Property Assessment notices have arrived in the mail, giving some homeowners a big smile and a bit more spring in their step (increased property taxes aside), while others wilt and lament at a modest gain or decrease in assessed value. Hold on a sec,…
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Debt

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Christmas can either be a wonderful time of the year or a stressful one for many Edmonton homeowners. Everything is always based on gift-giving rather than giving of your time, baking something or doing something for someone else. Well, this year Christmas has come early for a client of mine…
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