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canadian mortgages: Canadian Mortgage Lending Changes - 02/17/10 07:47 PM
From April 19th look out for new federal rules that may affect your next real estate purchase.Basically...1. Lenders will have to now evaluate potential buyers based on the 5 yr fixed rate at the time of purchase. Even if the buyer decides to go with a different "type" of mortgage. This will probably only affect you if your Total Debt Service Ratio (ability to borrow based on the amount of debt you can reasonably carry) is on the high side. If you can get a good TDSR at the 3 year 3% then a 5 year rate of 5.89% might just … (0 comments)

canadian mortgages: Skip-a-payment for Canadian mortgages - 04/28/09 04:45 AM
I spent the morning contacting banks to see if our mortgages are eligible for the skip-a-mortgage program. Some banks offer it as a new service to customers while others see it as a privilege that must be carefully reviewed and only granted in financial straights.As a investor it's crucial to always be proactive with your property. When vacancy rates are high the most important thing to do is keep your cash reserves high and maintain the staying power fund of your property.Here is a short list of banks and their policy on deferred payments:RBC - just enrol in the "Skip-a-mortgage" payment … (2 comments)

canadian mortgages: Why Canada's Economy Is Rock Solid - 03/18/09 03:47 AM
My aunt forwarded this to me. I know it is quite late; now news a month old is ancient history. However, it is a good read and pretty bang on.An American Perspective Newsweek: Oh those Boring Canadiansby : Fareed Zakariain : NEWSWEEKFeb 16, 2009 The legendary editor of The New Republic, Michael Kinsley, once held a "Boring Headline Contest" and decided that the winner was "Worthwhile Canadian Initiative." Twenty-two years later, the magazine was rescued from its economic troubles by a Canadian media company, which should have taught us Americans to be a bit more humble. Now there is even more … (1 comments)

 
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Todd & Danielle Millar

Edmonton, AB

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