What is a Short Sale?
Short sales. They’re a seller’s worst nightmare, and a bargain buyer’s dream. But just what are they? And does “short sale” mean “fire sale” in the sense that you should run out and buy the property before it’s taken off the market? A short sale occurs when a property sells for less than what’s currently…
Read moreQuick Facts on Canadian Mortgages
The panic that has surrounded Canadian mortgages has gotten a bit out of control. Yes, our rules are tighter; and yes, the housing and mortgage market is going to slow down for a bit. But we’re still okay!! Whenever you’re tempted to become too depressed about the “dismal” state of today’s market, just review these quick…
Read moreMore Canadians Prepaying Their Mortgages
You’ve heard it all before. You should be pre-paying your mortgage. It’s the best way to become mortgage-free faster. And while experts, analysts and bankers have been giving us this prepayment lecture, it turns out – we’ve actually been listening! According to CAAMP, over the past two decades homeowners have cut the length of their…
Read moreCAAMP Heads to Ottawa to Make Case for Revisiting Mortgage Rules
It was just a couple of weeks ago when we spoke of how CAAMP was unhappy with the mortgage rules that were put into place this past summer, and that they believed they were having an extremely detrimental effect on the economy. Now, no longer happy to settle for just a report stating the harm…
Read moreLooking for a Farm Mortgage? Be Prepared to Pay Top Dollar
It seems as though we’re going back to our roots in Canada – literally. Farmland has become more popular than ever with just about every market seeing these lots go for top dollar, and even attracting many investors. According to the Re/Max Market Trends Report, there are only three places in all of Canada right…
Read moreWould You go to Wal-Mart for a Mortgage?
The idea of retail stores opening up a mortgage business is really nothing new. Costco started offering mortgages here in Canada in 2010, and the retail giant has recently opened its doors on the mortgage business in the United States, too. Several years ago Canadian Tire tried to open its own little mortgage side business,…
Read moreDid Ottawa go Too Far with New Mortgage Rules?
There’s little doubt that the latest round of mortgage rule changes have significantly impacted the mortgage and housing market in Canada already. Sales in September dropped by 15 per cent, and while last month was a bit busier, October still showed a 7.8 per cent slow down in home sales across the country. It’s this…
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