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How to negotiate your first mortgage
October 17, 2024
Other than getting the best rate possible, what do you need to know about negotiating a mortgage? Are you aware of break fees? Pre-payment priviledges? Do you know what penalties, if any, the bank will charge you? Have you come up with a budget, independent of the bank's?
Doug Melville, Canada’s banking ombudsman, joined us on Wednesday to ...
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Turn, turn, turn
June 16, 2024
One afternoon last week, three hours apart, I met with two couples, both of whom read this blog. As it turned out, they both wanted financial help.
The young, urban couple – he’s in IT, she’s in HR – rent a one-bedroom condo and are shopping for a home. But not fast. When they do, I was told, it will be in the $700,000 range. They have $82,000 ...
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How to understand your credit rating
April 11, 2024
What is a credit rating?
The credit rating is an instant view of the financial capacity of an individual at a given time. It is obtained by the evaluation of all the information known on a borrower regarding his term loans, credit card history, and credit margins. Most lenders will quote an R (revolving credit, a line of credit for example) or ...
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Are you buying material?
April 11, 2024
So you think you're ready to become your own landlord - ready to put down some roots in a community and build your own personal nest egg. There's no doubt owning a home has many advantages. Yet, this great financial asset also comes with weighty responsibilities. It's a good idea to think carefully about renting vs. buying before taking the ...
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