Canadian Mortgage Brokers: Market Is Changing Quickly
January 27, 2009
While many of the largest, most secure financial institutions in the world are teetering on the brink of extinction, some of the smallest victims are disappearing almost unnoticed. Canadian Mortgage brokers – the professionals responsible for hundreds of billions of dollars worth of mortgage loans and refinance loans all over Canada every year – are quietly slipping off into the night while others are thriving.
So what gives?
The answer may surprise you. Read more
Need to unlock your home's equity - but have a few questions? Why not consider a free private email consultation with me, Darrin Roseborsky? There's no obligation or commitments to worry about. Just helpful answers to your questions. Use the short form in the top-right corner to get started. And in a few minutes, you'll have the answers to all of your questions.
Canada Credit Repair Scams Rise as Economy Falls
January 23, 2009
As the economy sinks further and further into recession and Canadians struggle to juggle their bills while fearing for their economic well-being, it looks like in Canada, credit repair scam artists are poised for a big come-back. Here are a few things for you to consider so you can avoid being caught in their web of deceit.
Legitimate Credit Items Can’t Be Wiped Clean – Your mom was right. If you did it, admit it, and move on with your life. Nobody’s perfect, so realize that no credit repair company in Canada can legally wipe legitimate items off of your credit report. A common tactic used by some of these companies is to shower the credit reporting agencies with so much paper contesting the legitimacy of the debt that they’ll give up and remove the contested item or items. It’s a pipe dream. Even if they succeed, your creditor will simply put it back on your report and you’ll be back where you started – minus the money you will have spent on the credit repair agency’s fee.
5 Easy Steps To Effective Credit Clean Up
January 19, 2009
Have your old bills and other credit issues followed you like a lost puppy into the New Year? If so, it’s time for you to take charge of your financial life and resolve to take the steps today that will improve your chances of getting the refinance loan you might need tomorrow. Here’s a simple step by step plan that will have you singing credit clean up before spring.
Assess the Damage – Get a copy of your credit report and see what it has to say. Most Canadians are shocked to learn what’s on their credit report – and what’s missing. The only thing a potential lender has to judge your ability to repay a loan is your credit report, so if it’s not accurate it will be impossible for a lender to make a reasonable assessment of your ability to repay a loan. Credit clean up tip # 1: Assess the damage. Read more
Preparation Key To Lowest Refinance Rates
January 16, 2009
A lot of Canadians have been sitting on the fence, delaying a home refinance until they find out if refinance rates are going to hold steady or they’re headed down even further.
Here’s a recent article posted by Reuters indicating rates may be on the decline:
Bank of Canada hints at more rate cuts to come
While our nation’s leaders ponder the future of refinance rates, this would be an ideal time for you to take care of some last-minute housekeeping by cleaning up any lingering credit issues that could delay or prevent your getting that all-important loan approval. Read more
5 Reasons To Refinance. Which Of These Is Right For You?
January 12, 2009
While there’s still a great deal of uncertainty and instability in the national economy – and possibly in your personal economy – there are some very good reasons to refinance sooner rather than later. Consider these benefits:
Reasons To Refinance: Low rates – While there’s been some fluctuation in refinance rates, they’re still at or very near historical lows, so there’s never been a better time than now to take advantage of these low rates. If you’re even considering refinancing, this is an excellent time for you to jump on the low rate bandwagon and achieve your financial goals. If there’s even a possibility that you could experience a short-term or long-term layoff, you should get your finances in order and position yourself so that you have the greatest chance of coming through any economic downturn relatively unscathed.
Combine Mortgages. 2 Ways It Can Help You
January 8, 2009
A good question came in the other day that really echo’s what many of our visitors want to know. Can you combine mortgages and put yourself into a more advantageous situation?
Question: My home has been appraised at 225000 and i have a first mortgage of 128000 at 5.15% and a second mortgage of 55000 at 10.99. I’m paying about $1700 and it’s not a problem. I guess my question is there anyway to combine mortgages and still get a better interest rate. I’m paying an additional 300 and something on my first mortgage. I thought my mortgage broker knew what they were doing . But after listening to your video I’m not so sure.
Understanding the True Cost of a Refinance Bank Loan
January 6, 2009
Figuring out the true cost of a refinance bank loan can be difficult. When you go to a restaurant for a steak, a single glance at the menu can tell you how much you can expect to pay for that mouth-watering steak dinner you’ve been anticipating for more than a week. Unfortunately, refinance loans are not quite as easy. Here’s how you can cut through the chatter and get to the bottom line.
First, realize that all refinance bank loans aren’t the same, just as mortgage companies are vastly different.
You might have the expectation that if mortgage agent ‘A’ has a $250,000 refinance bank loan available at 5% fixed for 15 years and mortgage agent ‘B’ has the same rate and terms that your monthly payment would be identical.
