Where Have All The Mortgage Lenders Gone?
November 28, 2008
Recently I read an article in the National Post that I thought paralleled the recent state of mortgage lenders, and wanted to comment on it for everyone.
Over the past 12-18 months we have all noticed some drastic changes in the mortgage markets, especially with mortgage lenders that are equity based. Equity lenders have either “fallen off the map” or have significantly tightened restrictions on who and where they will lend.
12-18 months ago people who had poor credit scores, lower or difficult to prove incomes, but had a substantial amount of equity in their homes, could still get a mortgage from a number of mortgage lenders. The rate may not have been as good but the option for financing was still there. 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.
Canadian Economy: Future of Unprecedented Uncertainty
November 25, 2008
The Canaidan economic outlook is worsening by the second, but Prime Minister Stephen Harper believes that few governments in the world are as well-positioned to weather the storm as Canada. Citing a willingness to take whatever steps are necessary to prevent the Canadian economy from sinking to the same depths as the U.S. economy, Harper promises that he’s on top of the ever-changing situation and has an aggressive plan to help Canada emerge stronger than ever.
Take a look at the International Herald Tribune article and judge for yourself. I’d really like to know what you think…
http://www.iht.com/articles/ap/2008/11/20/business/NA-Canada-Economy.php
Secret To Avoiding Credit Card Debt
November 18, 2008
Despite your best intentions, you’ve managed to let your credit card debt pile up again after refinancing or taking out a home equity loan. Now that the damage to your credit score is a done deal, what’s the best way for you to climb out of the latest financial hole you’ve dug… Read more
Darrin Roseborsky: His View On The Governments $75 Billion Mortgage Cash Injection
November 13, 2008
An article recently written in Financial Posts titled “Ottawa bows to bank pressure” bodes well for Canadians in search of mortgages. However, the information seems to contradict what was previously stated by the Canadian government.
Not too long ago it was pretty much accepted by many financial professionals that we were not in a mortgage crisis. And even though there were problems in the U.S mortgage markets, here we were only experiencing a small fraction of the challenges the American market was facing.
But now we are poised to have a 75 billion cash infusion injected straight into the arm of the Canadian mortgage industry to basically buy bad mortgages off the bank’s books.
Can a Home Equity Loan Really Help You Get Out of Debt Sooner?
November 11, 2008
Weekly Q & A With Darrin: Can a Home Equity Loan Really Help You Get Out of Debt Sooner?
“Millions of Canadians struggle with runaway credit card debt issues!”
Question: Hi Darrin. I’m in a little over my head with credit card debt and the minimum monthly payments are getting harder to handle. Would a home equity loan really help me? Doesn’t it take longer to pay off the loan and get out of debt? And how do I avoid repeating the process again in a few years?
Thanks, Jeff
How to Quickly Decide Between A Fixed and Variable Refinance Loan
November 4, 2008
If you’re considering a refinance loan, you have a multitude of choices available to you. The decision as to whether to go with a fixed interest rate or a variable one is as deeply personal as the decision about which political candidate to support.
A fixed interest rate - refinance loan offers you security, so in troubled economies where interest rates are rapidly rising or you fear they could, the fixed interest rate might make more sense. The drawback to this approach is that security comes with a price. There can be significant differences in rates charged and – depending upon your lender – these differences could result in your spending thousands of dollars more over the long term for your refinance loan.
