QUOTE (ThomasBeyer @ Dec 3 2009, 07:37 PM) Assuming you are telling the truth on your personal networth statement when applying for a new mortgage it should have NO effect on your TDS score and thus, creditworthiness. Think of a secured LOC as an interest only mortgage. It is still debt...

Hi there! I know there had been many posts here, if HELOC is better than mortgage, or so. However, my question relates, if getting secured LOC instead of mortgage would affect credit file and score, as it would be placed as revolving account, and therefore in same class as credit card or...

QUOTE (JimWhitelaw @ Dec 2 2009, 10:20 PM) We`ve encountered something similar in the past. In order to qualify for an additional investment mortgage, the lender asked us to reduce the limit on an unused and unsecured LOC. The investment mortgage was worth much more to us than the unused credit...

Hi there! I`ve been recently approved from a chartered bank for refinancing, with condition to pay off some debt on credit line (unsecured), but can leave it open. However, when I attempted to get more money by going through CMHC, I`ve been told that I might be asked from CMHC to actually...

QUOTE (RCC @ Dec 1 2009, 06:05 PM) Has anyone received notice of increases in interest rate on bank HELOC. I had a RBC HELOC at prime for over 10 years. I just received a letter that my rates will now be prime +1. Anyone in similar situation and anythinhg we can do? Yes, I`ve got the same one...

Prices in Alberta, BC and SK dropped up to 20% in past 1-2 years. It more looks as crash to me than correction, in terms you mention. In my opinion, western Canada already experienced bubble burst. Prices in these areas were ascending with higher pace in years prior, than in eastern Canada...

QUOTE (MarkTorgerson @ Nov 19 2009, 11:24 PM) Hi I have a friend that is interested in becoming an appraiser. Does anyone have any suggestions on what her first steps would be? She has already contacted the existing ones in Medicine Hat and they don`t have any interest in taking on someone...

Great replies! Thank you all! Dejan

Hello everyone! I started investing last year during last months of boom period, as I was initially lucky with my own condo a year before. I did eventually got caught up with some good and some bad investments, as I was rookie (still am) and was hit with downturn right after purchases ...

QUOTE (TomB @ Aug 7 2009, 05:54 PM) I`m considering ordering the economic CD`s offered for $69. Is this the same event as the Get a Life Event that got such rave reviews? If it`s not the same event can someone who was at the Economic Summit give a quick review? I`ve done a search and just get...

QUOTE (EdRenkema @ Jul 7 2009, 08:26 PM) Remember, I`m just a simple country boy.... What the heck is Mag Lev???? I guess shortcut of Mag-netic Lev-itation. I believe France started first in Europe.

QUOTE (invst4profit @ Jun 30 2009, 08:46 PM) From my perspective it is actually unfortunate, to some degree, that Canada did not tank. I have plenty of associates that were waiting like vultures to swoop down on the dying. Too bad really it would have been a great opportunity for investors well...

QUOTE (RandyDalton @ Apr 21 2009, 03:31 PM) I am working on an offer for a Triplex in Hamilton. The seller is currently living in the main floor unit and is wanting to stay on with a month by month tenancy and will abide by the terms of his standard agreement. This appears to be a good deal...

QUOTE (thomasbeyer2000 @ May 21 2009, 08:36 AM) shy of buyer not closing on time .. and thus giving you a cause to cancel deal: add to the asset column of your life under "experiences learned" / "stories to tell my grand kids" You bet I will

QUOTE (GarthChapman @ May 20 2009, 10:15 PM) Have all the conditions been removed by the Buyer - and on time? If they have then you have a firm sale and are obligated to close the sale. If not then get to your lawyer to ensure you act to void the deal as may be required, depending on your...

Hi all! I have fallen into my own trap I believe, and I would appreciate your opinion. I have recently signed offer to sell one of my property and received deposit for it. Reason for selling it was too many problems (my first rental ever) last year and high maintenance costs as well. I have...

QUOTE (terri @ May 14 2009, 11:22 AM) According to this article, Toronto has transitioned into a sellers market in the last couple of months, primarily because there`s a shortage of listings, but it has been pretty shocking to see bidding wars and things go in 2 days for over asking so soon...

QUOTE (NorthernAlex @ Mar 4 2009, 02:34 PM) My local RBC branch manager and mortgage provider taught me yesterday: Financing up to incl. 6 homes = residential rates, above that "commercial" rates. Yes, RBC will go with 6, while many others go with 4 doors

QUOTE (thomasbeyer2000 @ Mar 2 2009, 08:44 PM) I think it is paramount that you have very good relationships with at least 3 banks !! Yes, drop a few .. but don`t piss them all off ! Absolutely not Thomas, I will try to shop around more, as with TD is more relationship issue I guess Thanks...

QUOTE (investmart @ Mar 2 2009, 07:48 PM) Kanebel, I can't believe they did that to you - prime + 5.50%!? my non-secured with TD is prime + 2. do you have like 450 credit score or did you fall in the wrong hands? I am just trying to understand, if there is any banker here, what criterias the...