It's not uncommon for things to go illegitimately awry when you take on home renovations. Just last week we talked about how contractors can sometimes be dishonest; and we all know that homeowners undertaking expensive renos are sometimes wont to take shortcuts from time to time. Especially if they ...
It's summertime and that means millions of homeowners are perusing their outdoor living space to find home renovations that need to be done before the cold weather settles back in. The biggest part of doing any work is hiring a contractor. Simply put, there are some really good ones and some really ...
It started off as a commercial mortgage case, and now has turned into so much more. Who could forget the horrific collapse of the Algo Centre Mall in Elliot Lake last June? Occurring during peak shopping hours, part of the mall literally just fell down, and it killed two women and injured several...
A little while ago we talked about being house poor, and how just being able to afford the sticker price of a home doesn't always mean you can afford to own it. Regular upkeep, perhaps furniture that still needs to be filled in, and property taxes and insurance are all extra little costs that can qu...
It's summertime and that means it's time to get out into your backyard and have some fun! But summer is about more than just raking the leaves and lounging in the sun. You can take this opportunity to make some great home renovations! Or, should we say, backyard renovations? When people think of re...
It seems that ever since the latest round of mortgage rules went into effect last year, you can always count on Will Dunning of CAAMP to come out with shocking and stunning predictions. (Remember when he said in March that 190,000 jobs will be lost due to the mortgage rules?) Now he's come out and s...
Just like in any other business, mortgage brokers need to seize opportunities to increase their profit as much as they can. But also like other businesses, some brokers can go a bit too far. And that's what some consumers think True North has done with their new cancellation fees. True North is the...
A recent study by BMO has some, namely CTV News in this instance, believing that the new mortgage restrictions that went into place a year ago (today, to be exact!) have cooled the market and kept some from entering the housing market. But the numbers actually need to be put into a bit of perspectiv...
You can't go anywhere these days without hearing about the mortgage rules imposed across the nation last year. But with those rules came some debt ratio standards that weren't exactly clear. Or not as clear as CMHC would have liked, anyway. To that end they've now defined those standards even more, ...
Everyone is still feeling the hit from the mortgage rules that were imposed a year ago (in two days, to be exact.) One of those rules eliminated mortgage insurance for luxury homes altogether, which had many thinking that this would severely affect the sales in this market. As it turns out though, t...
While renting to own homes can be a great option for those that don't have the credit or the clout to get a mortgage on their own, it still sometimes leaves a bad taste in the mouths of consumers. Doesn't rent to own come with huge interest fees and costs attached? And isn't it all too easy to becom...
It was the beginning of last month when bond prices plunged and RBC increased mortgage rates in response. Not too long after Scotiabank and TD followed suit. But while homeowners and home buyers are groaning about these higher mortgage rates, they're not all bad. And in fact if you look at them from...
This morning we ran a story about a B.C. widow who was the victim of investment fraud, after trusting the wrong "investor" with her money - lots of her money. Stories like this aren't meant to frighten and scare, or make people wary of investing their money; but rather, they're a warning tale about ...
There is balance in everything. When one area of the economy goes up, another part must go down. It's economic balance, and it's what's caused RBC to become the first major lender to raise its mortgage rates. At the end of last week it was reported that Canada added 95,000 jobs in May, a huge incre...
Getting a mortgage can truly be an overwhelming, and sometimes terrifying, experience - especially if this is the first income property you've ever purchased. But if you keep your wits about you, and know which traps and pitfalls to avoid, you'll be approved for your mortgage quickly, won't end up p...
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