Debt has been the most pressing issue during this COVID-19 situation. Our previous posts have addressed some of these issues from the danger of predatory lending to the help you can get from credit counselling. Managing one’s debt is extremely important. However, each case is...
As we are going through these unprecedented times, we’ve been seeing a lot of references to predatory lending. Many wonder what this term refers to in the world of mortgages. Essentially, predatory lending is the practice whereby a lender deceptively persuades a borrower to agree...
Our last post was about consumer proposals as an option to avoid bankruptcy. We all work really hard to avoid going bankrupt, but, in some instances, it might be the only possible way to deal with debt. Just like with anything else, the most important...
Many people do not seem to understand or even know what a prepayment penalty is, whether because it was not well explained or it was not even brought up. If you are not well informed about this aspect, it can be very costly to you...
Here’s the thing: closing costs are the one element people tend to forget or know less about in the entire home buying process. We’ve written a few blog posts where we mention closing costs and what they entitle. This particular post aims at answering the...
Since January 2018, qualifying for a mortgage has been very challenging for first-time homebuyers, unless they got a “down payment” gift from a family member. As we have discussed numerous times, the federal stress test and climbing prices are the main reason why it is...
One aspect we often forget consider when hunting for the "dream home" is the neighbourhood. So, before you begin looking at houses, narrow in on your chosen location. Someone once said that the houses are like spouses and that the neighbourhood is like the extended...
You have purchased a home. The moving day is fast approaching. Have you considered all the costs? We decided to write this blog post to help every homebuyer budget for the costs - the obvious and the hidden ones - related to moving. What are the...
People often wonder why they should consider working with a mortgage broker when banks can do mortgages as well. We certainly get asked this question a lot. The truth is: there is a BIG difference between the two. Similar to the “house hunting process” where...
Dear clients (and readers), I have decided to create this week’s blog post as a letter to you all. The reasoning is simple: I believe in building relationships with everyone I work with and I like to add a personal touch to all the work I...