Welcome to My Blog

“Aging in Place” with the help of a CHIP Reverse Mortgage

“Aging in Place” with the help of a CHIP Reverse Mortgage

Why move when you don’t have to? Today, our aging population, the largest growing demographic, requires all of us to think and plan for our independence - our quality of life as we age. Our society’s infrastructure will be challenged to support the needs of where and...

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Are you living in a (former) ‘grow-op’?

Are you living in a (former) ‘grow-op’?

If the provocative nature of the above headline causes readers some concern, then my job is done! I just want to bring to homebuyers’ and homeowners’ attention just a few of the possible ramifications of the impending Marijuana laws being enacted in July as it applies...

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Mortgage Renewals in Canada – More Bad News

Mortgage Renewals in Canada – More Bad News

Last month Mortgage Trends received an email from a distraught client who had just received a letter from his mortgage lender letting him know his mortgage maturing in just five months would NOT BE RENEWED! Another family complained that their mortgage lender had sent...

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MYTHS About Reverse Mortgages – separating fact from fiction

MYTHS About Reverse Mortgages – separating fact from fiction

Many of the myths surrounding CHIP Reverse Mortgages have often been as a result of information taken from American experiences and have absolutely no relevance in Canada.  Below, some of the myths that we often hear about, the 'reliable' information sources...

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Tougher Mortgage Rules “Stress Test”

Tougher Mortgage Rules “Stress Test”

In just over 2 months, Canada's banking regulator launches its controversial mortgage ‘stress test’, probably the most draconian rule change in recent history, aimed at people with heavier debt loads and at least 20 per cent equity. This past week, the Office of...

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The Canadian Dream

The Canadian Dream

Happy Birthday #150 Canada! Under the heading: “Where Did The Time Go?”, I reflect with great fondness on my Canadian Experience on the 150th Anniversary of this great country. I was living in Montreal in 1967 the year of the Centennial – having just arrived from...

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 	 Reality check

  Reality check

Recently I was talking to a bank manager friend of mine ‘Jack’ about this current crazy housing market and it presents a picture that is at once dangerous and lacking anything that makes sense! Jack is seeing on an almost daily basis, clients who purchased properties...

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Re-financing may be an option

Re-financing may be an option

Although low interest rates and a vigorous housing market continue to be the norm, Canadians are still saddled with the burden of high debt loads. According to recent stats, the ratio of debt to disposable income rose to 167.3% by the end of 2016. This means that...

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Memberships

Whitby Chamber of Commerce mortgage-professionals-canada Newcastle & District Chamber of Commerce