Debt Payments

Debt payments when qualifying for a mortgage make a big impact in what you can afford to purchase. Lenders must use 3% of the balance on credit cards and personal lines of credit. Let’s look at a $10,000 credit card balance at 3% equals $300.00 per month as a minimum…

Consumer Debt Problem

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…

Mortgage Deferral

Mortgage deferral, 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 mortgage payments if you reach out to your current banks (lenders) directly. Preserving the stability…

Legal Separation?

Need a legal separation? 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…

Prime Rate Drops

Prime rate drops, how does this affect your variable rate mortgage? 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…

Identity Theft

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…

Standard VS Collateral

Standard VS Collateral Mortgage Lenders vary the way they register your mortgage against your title. I would highly suggest you read the fine print and make sure you understand what it all means. If there is something you don’t understand, then make sure you ask. There are two ways lenders…

Property Assessments

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,…

Debt Consolidation

Debt consolidation can help with the pressures the holidays bring on. 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,…

Protect Your life

Protecting your life with mortgage insurance is very important to help manage unexpected life events. Insurance protection for both life and disability is yet another cost when purchasing a home however how does one plan on paying the mortgage if one was to die and leave a spouse behind to…
1 2 3 5