Breaking your Mortgage? It’s Going to get Easier to Understand
Mortgage documents can sometimes be confusing for the homeowner. What do all those terms mean? And how are those calculations figured? Most importantly, what’s it all going to cost you in the end, and why? It’s these two last questions that Canadian banks have recently focused on when looking at homeowners that want to break…
Read moreBanks Give Customers One More Reason to go to a Broker
It’s a question that’s been around ever since we’ve had mortgages: should you go through a bank to get your home loan, or should you go through a Toronto mortgage broker? It’s a question almost every home buyer asks themselves during the process of buying a home; and now, banks are doing nothing to swing…
Read moreShould Banks, not Government, be in Charge of Tightening Mortgage Rules?
Canadians remember with vivid clarity when Jim Flaherty tightened the rules on Canadian mortgages, and for anyone who wanted to get a HELOC. And while it was probably a good move, to keep us from getting in too deep like our neighbours south of the border, now an interesting proposition may be on the table….
Read moreTD Bank is No Follower
Perhaps wanting to win back the hearts of many Canadians after pulling out of their discounted mortgages early, TD Canada Trust has come out with yet another announcement – it will still loan to stated income borrowers! The news comes one week after CIBC said that their stated income mortgages will no longer be on…
Read moreBanks Pull Out of Discounted Mortgages Early
There was a lot of talk in January about many of the major banks in Canada trying to beat each other out for the best mortgage deal. BMO was the first bank to start offering hugely discounted rates and packages, but they had a two-week stipulation for running the promotion. When many of the other…
Read moreTwo Montreal Men face Mortgage Fraud Charges
It was earlier this week in Montreal when RCMP arrested Kihn Ho Quan, 56, and Hermel Bosse, 58, with over $4.5 million worth of mortgage fraud. The arrest came after four grueling years of the RCMP following the men and trying to collect enough evidence against them. While over the course of those years, it’s…
Read moreIt’s Going to Get Tougher to Get a Mortgage
Well, it looks like people can put off any talk of a housing bubble. If Canada were in one, the government and the CIBC have started to deflate it by now making it that much harder to buy a home. It’s not impossible no; and we’ve certainly had tighter rules and way, way higher interest…
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