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Realtors: Helping your clients downsize
1. HELP YOUR CLIENTS DOWNSIZE Many older clients are looking to downsize so that they can pay-off their debt and free up some income for retirement. However, downsizing may require your client to move out of their neighborhood, or move to a much less desirable...
The Pros and Cons of Land Lease Home Purchases
The advantages of a land lease: Land-leasing is a form of home ownership that reduces the capital costs of buying a house. By going this route, residents buy their home and own it outright and lease the land. As a result, the purchase price is often reduced because...
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...
“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...
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...
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...
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...
Are you and your small business prepared for the upcoming increase in expenses?
The new Minimum wage regulations may prove costly – and devastating - for small business owners. What is your contingency plan? Let Terry Lynch show you how to make improvements, update your website, ramp up your advertising to boost sales in advance of the new...
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...
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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