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equity: Lethbridge Mortgage Blog -- Consumers Beware - Your Line of Credit may be Rising - 02/27/09 02:58 PM
If you happen to hold an unsecure line of credit with a Canadian financial institution, you may be receiving some troublesome news - payments and interest could be on the rise. This increase is not due to the Bank of Canada raising the Prime rate however. Several of the major financial institutions in Canada are concerned that their earnings may be affected by the historically low interest rates that exist in the marketplace at present and are taking it upon themselves to change things, by increasing their own rates.
TD Canada Trust sent out a wave of letters to customers that … (4 comments)
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equity: Canadian Govt considering offering tax credit for home renovations - 01/15/09 12:07 PM
Interesting news today that the Harper government has been floating the idea of a tax credit for home renovations. The thinking is this type of incentive could provide a significant stimulus for Canada's floundering residential construction industry. The idea also could serve as a significant boost to the much needed lumber and forestry sectors that have experienced major declines in demand since the US housing crisis and worldwide economy downturn over past 2 years.
From todays Report on Business (globeandmail.com)
Deliberations continue as Canada's premiers meet today in Ottawa to put the final touches on a budget request for Prime Minister Stephen … (0 comments)
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equity: Equity & Vision mortgage programs suspended by another Lender. - 12/24/08 01:23 PM
Equity (low documentation) and vision (damaged credit) mortgages became more difficult to obtain in Canada this week as Concentra financial announced that it was "temporarily" suspending these programs in response to the current conditions of the economy and credit conditions in Canada.
These types of programs are very important to customers who don't fit the traditional "A" lending requirements of most banks and institutions.
Equity programs allow for reduced amount of required documentation in underwriting a mortgage. Over the past few years, lenders have been willing to allow for less documentation in situations where there is sizable amount of equity (security) in a property. … (0 comments)
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equity: Using a HELOC to Enhance your Investments - 03/11/08 10:40 PM
Do you have a large amount of equity built up in your home? Are you looking to further enhance your financial position? A HELOC may be just the type of financing that you are looking for.
HELOC is an abbreviation for Home Equity Line of Credit. Basically, a HELOC is a credit account that is secured by property that a person owns. This account can be drawn against by the investor for any number of reasons, such as paying bills, consolidating debt, making a large purchase such as vehicle or property, investing for retirement etc.
The HELOC option when used properly, can … (0 comments)
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Shaun Serafini B.MGT
Lethbridge,
AB
More about me…
Shaun Serafini - Mortgage Expert - All Source Mortgages
Office Phone: (403) 382-1564
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