Why are the Chinese buying up Vancouver? - 08/14/11 08:02 PM
We all know the lure of Vancouver, but why are the wealthy Chinese so keen to purchase properties in Vancouver?
Sure the Economist Intelligence Unit (EIU) again named Vancouver as the “Most Livable City in the World” for 2011, but that’s only one reason Vancouver real estate prices are red hot.
But why are wealthy Chinese bidding up the properties in Vancouver, sending prices in the city soaring in the past three years.
There are a couple fundamental reasons.
Yes they’re anxious to raise their families in the West, but that’s only half the story.
The fact is, the Chinese Government … (1 comments)

How New Bankruptcy Law Affects Divorce – Not BC - 08/14/11 07:58 PM
You may want to think twice about your divorce after Canada’s top court ruled Thursday that a discharge from bankruptcy destroys the right to enforce a claim for equalization of property in some cases. Unless you live in BC…
As seen in the Financial Post:
When dividing up family property, if one spouse owes the other a hefty payment, they may be able to dodge it through a bankruptcy claim.
In a unanimous ruling, the Supreme Court of Canada said a claim for equalization in divorce proceedings is a provable claim under the Bankruptcy and Insolvency Act. If the spouse entitled … (0 comments)

What is CMHC Mortgage Insurance? - 08/14/11 04:18 PM
We’ve all heard of insurance, in fact, it’s common place to pay for insurance for some type of protection.
Well CMHC (Canadian Mortgage & Housing Corporation) mortgage default insurance is also a protection, BUT not for you.
It protects the bank (lender), BUT YOU pay.
That’s right, you pay in order to protect the bank in the event that you default and can’t pay your mortgage.
I’ve heard so many definitions of when this CMHC insurance is required.
You must pay CMHC mortgage default insurance if your down payment is less than 20% of the purchase price of your home.
This … (0 comments)