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Mortgages: Don’t Learn the Hard Way
While learning from experience is great in most areas, it is not the best way to learn about mortgages.  In fact, learning from experience can cost you thousands of dollars and many headaches.  Before signing on that dotted line to purchase your new Kamloops home, be sure to do your research and understand exactly what you are signing.  According to a recent article by PJ Wade on Realty Times, here are five things to think about when determining which mortgage and which lender is right for you:
1.    Consider the source:  While the internet is a great research tool, it can be hard to differentiate between unbiased facts and marketing ploys.  According to a recent Mortgage Consumer Survey released by the Canada Mortgage and Housing Corporation (CMHC), the internet provided 86% of recent real estate buyers with on-line mortgage calculators and 54% with financial self-assessments.  Just remember, the internet is full of both legitimate and not-so legitimate companies peddling financial services.  Be very wary and protective of where and whom you provide personal information to.
2.    No one works for free:  Ever been referred to a mortgage company by your broker?  Often, lenders will pay referral fees for such referrals.  While ... more

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