I’d have to respectfully disagree with you. There is money to be made in any kind of market it just involves different strategies. As well you can not generalize the entire Canadian market. There are local market factors involved, for example when a large employer leaves town (like Oshawa and...

Sell the property, walking away isn’t the great relief that it sounds like. Contact your lender explain the situation and see if they will assist with interest only payments or reduced payments while the property is on the market. Most lenders have tools to help individuals in a legitimate...

I have had this happen in the past and as the mortgagee I have also refused to sign over the check to the individuals involved. (They always love that!) When the deal is underwritten it includes the value of whatever was lost in this case a garage. Now your going to just demolish the garage and...

I’ve had experience with this in the past and it’s a major pain. Depending on where you live or where the vehicles are a bailiff may be able to get you a transfer of ownership, this is the easiest way to deal with this that I am aware of. There are some bailiffs in Ontario that advertise this...

The new rules only apply to the banks all people need do is look at the multiple alternative lenders available out there. Sent from my iPad using myREINspace

What is the extent of the damage? By the sounds of it they don’t need to replace the drywall otherwise they would get a look at the pipes when they cut out the damaged drywall. Have you had a frank conversation with your tenant? How well do you know the tenant? Are they likely to tell you a...

NAFTA has the potential to hit automotive manufacturing industry hard, if the US gets their way it will hit this industry hard. Windsor is heavily tied to automotive manufacturing so there is a level of uncertainty about the future of Windsor’s economy. Windsor’s recovery and growth since the...

Always push back the bank rates, let your bank know you have meetings with other lenders as there rate is too high. They will then likely try to find out what rate you are getting elsewhere or the rate you are looking for so they can adjust their rate to be competitive. Don’t give them this...

I’ll be there. :) Sent from my iPad using myREINspace

Could you provide some insight as to how you reached your suggested numbers? Sent from my iPad using myREINspace

With the new lending requirements it will mean there are less people that qualify under the new rules. The Bank of Canada is predicting the rules could cut out 10% of borrowers with large down payments and make them ineligible for a loan. Some $15 billion in Mortgage money cut from the market...

Completely agree with you. Sent from my iPad using myREINspace

The time factor is the major risk regardless of LTV. A lot of items could go wrong during the time frame. Not to mention wear and tear This is More along the lines of what a settlement company does only with more risk. Unknown = risk It’s not just the rates it’s the opportunity costs of the...

The issue on the banking side of things is that the profit is deferred too far into the future and the risk involved is a too high. If the banks did a reverse mortgage for 10 years that's 10 years of unknown market appreciation or depreciation on the value of the house. A whole lot of things...

The problem with conventional bank underwriting is they have hard fast rules with next to no flexibility. So in answer too you're question I would say the couple would need to qualify per normal standards and income will likely dictate the amount of funds they could get, assuming all else is...