Author: Marla
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FINANCING A FORECLOSURE
Many people look at purchasing a foreclosure because the price is right. If you are thinking of buying one, here are some things you should think about. Once a property is listed as a foreclosure on the MLS, it has gone to a court ordered sale. The dealings will be through the realtor the bank…
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Policy Updates: Mortgage Insurance Premiums
In April 2014 the Office of the Superintendent of Financial institutions (OFSI) released a set of Mortgage Insurance Underwriting Guidelines. In order to comply with OFSI’s new B-21 Insurance Guidelines, our partners at Genworth and CMHC recently announced new pricing for mortgage insurance premiums. Download Policy Updates on Mortgage Insurance Premiums here.
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The Hidden Costs of Home Ownership
These costs can come as a shock to first time home buyers and must be taken into serious consideration. In his three decades as a real-estate agent in North Vancouver, B.C., Kelly Gardiner has seen a lot of different reactions from people buying a house for the first time. Usually, they’re excited, nervous and overwhelmed.…
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Investing in Second Mortgages
What you need to get started You will need money to invest. This can be cash, RRSPs or available funds on a line of credit. Investing from a line of credit registered against your house is tax deductible. Who applies for a second mortgage? People applying for second mortgages are those who otherwise don’t qualify…
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Canadian Mortgage Trends
“Following the spring/summer rate spikes of 2013, homeowners feared that the low-rate ship had sailed. And now, only 6 to 7 months later, the market is again flush with sub-3% mortgages. “Just yesterday, in fact, Scotiabank launched the lowest mass-market 5-year fixed rate in its history: 2.97%. (Mind you, this is a rate the bank…