Mortgage brokers are legally obligated to offer you mortgage life insurance. You are not obligated to take it. Lenders want clients to take mortgage life insurance because it`s a profit centre. While I am not an insurance expert and am not qualified to advise people how the banks` products...

Why don`t you see if your parents are interested in being on the mortgage with you. Then they can provide the down payment. If they have good credit and help the deal in terms of debt servicing then you should be good to go.

I`m making the required $2000 per year payment or whatever it is to get the maximum government grant for each of my boys. Why wouldn`t you want to get a grant? But the RESPS aren`t the main vehicle. I will be buying two properties, one to be allocated to each of them, that while probably not...

QUOTE (DanieLL @ Jan 14 2010, 07:22 AM) Does your commercial mortgage broker change you fee? I understand that that for super large deals it may be appropriate to charge “finders fee” However, have you heard of charges on CMHC mortgages (8-12plex)? Could somebody share his/her...

QUOTE (housingrental @ Jan 10 2010, 09:29 PM) They`ll likely be able to go after that Bentley eventually .... It`s probably not in her name. Or won`t be when the time comes.... What a ridiculous system.

QUOTE (OlegP @ Jan 7 2010, 02:20 PM) Some mortgages, like Scotiabank`s STEP program seem to appear on the files. Yes, I believe this is because the STEP is a collateral mortgage.

Go with the longest amortization possible. It improves cash flow and gives you flexibility. If you decide later on that you want to be aggressive about paying down the balance you can make accelerated bi-weekly payments or make lump sum payments.

It will depend on whatever interest rate the bank decides to base the penalty off of. That`s why you need to contact the bank and ask for the pre-payment penalty amount. Generally it`s the best rate at the closest term available to the remaining time left on the original mortgage.

Hello! A REIN member emailed me last week asking if I could forward a pamphlet on the major components that go into determining credit scores. I`m sorry but I can`t find your email on my computer or my blackberry. Please email me again so I have your email address and I`d be happy to send it...

The Bank of Canada is in a difficult position. The high dollar is having a negative impact on manufacturers and exporters. Since most of these are in Ontario and Quebec where the majority Canadians live, the BoC has to tread lightly. On the other hand as the recovery takes hold inflation make...

QUOTE (ThomasBeyer @ Nov 27 2009, 02:08 PM) 3.55% is lower than expected .. but 2% spread is expected between conventional and CMHC insured ! what bank ? what loan amount ? what LTV ? $1 million on a $1.8 million building. As for bank, I can`t give away all my secrets!

Earlier this week I was quoted a spot price of 3.55 percent on a five year insured deal and roughly 5.5 on a five year uninsured deal.

Another great odor removal service in Edmonton is OdorZap which is owned by Michael Sunley, a REIN member and all around great guy. Give him a call at 780.919.9494 or go to ordorzap.ca for more info. He`s got lots of interesting and funny stench stories and has done super things for his clients.

Actually, because CMHC is a government agency it is not allowed to discriminate in any way other than credit worthiness, debt servicing ability, building value, etc.. This is why they will not provide mortgage insurance on age-restricted condo complexes, etc. If there is an age restriction, say...

Send me a personal email address and I`ll send you an info pamphlet that gives a pretty good overview of the key components used in determining your credit score.

QUOTE (GarthChapman @ Oct 8 2009, 07:44 PM) This is not a direct answer to the question, but rather a comment more on valuations in general, for what it`s worth... Good mortgage brokers know where to place your mortgage so you will see fair valuations, and will often have good relationships...

I have a happy success to announce that should go improve life on one street in the Montrose neighbourhood of Edmonton. Thanks to speedy and decisive action by the Edmonton Police Service, a nuisance in the neighbourhood is history. In mid-August I learned from one of my tenants that the...

Hi Sophie, Lucas will do a great job for you in Edmonton. All the best, Jason

QUOTE (GarthChapman @ Sep 25 2009, 11:23 AM) I`ll present a different approach to Brett`s above. I suggest you start with a interviewing and selecting a Mortgage Agent so he/she can work through you present financial position and your goals and advise what your financing options are. Then...

Go variable for now but draw a "line in the sand" where you`d be satisfied locking in at a five year rate. If five year rates hit that point, lock it in. In the meantime, enjoy the improved cash flow.