The Government announced on January 17th that they will be making changes to their government backed mortgages.  Namely, any mortgage that has less than 20% as a downpayment (with a few exceptions).  The changes are very important and may affect you.  They are as follows:

Decrease amortization from 35 years to 30 years effective March 18th 2011

For most of my clients this does not mean you are…

The new mortgage rules that the Federal Government has imposed take effect today. Here are the new rules and how they may affect you:

1. Qualifying rates have changed for variable rates and fixed rates with terms of 1-4 years for mortgages that are insured via CMHC and other insurers. This means for purchasers that are putting less than 20% as a down payment. This new rule does NOT…

Here is an article I was quoted in regarding mortgage rates, refinances and prepayment penalties:

Click here to read…

Not all debt is created equally.  Let’s face it, debt is not something we desire to have but there is a difference between the good and bad and it lies in how it can hurt or help you reach your financial goals.

Some debt can be seen as an investment in one’s future such as:

Minister of Finance, Jim Flaherty announced 3 new mortgage rules to take effect on April 19, 2010. Keep in mind that these apply to Government backed mortgages – CMHC insured. Here are the rules which are excerpts from the announcement , the breakdown, and how they will impact Canadians:

1. Require that all borrowers meet the standards for a five-year fixed rate mortgage even if…

Considering consolidating your debt? Here are a few things that may help you…

Spring Cleaning Debt Consolidation – PDF