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Lots of Changes in Home Buyers' and Sellers' Profiles
May 12, 2020
The profile of home buyers will change significantly in the next few years, according to a public telephone survey conducted in September for the Greater Montreal Real Estate Board (GMREB). The survey, which is the fourth one, helps profile buyers and sellers, as well as measure their intentions over the next five years.
Buyers' and Sellers' ...
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Reverse mortgage is not for everyone
April 28, 2020
It's a tempting proposition: after years of writing cheques to the bank to pay off your mortgage, the bank will write a nice big cheque for you.
That's the allure of reverse mortgages, which allow anybody 60 or older to borrow money against the value already built up in their home. With the number of 60-year-olds in Canada expected to double in ...
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Prepare your finances.
March 13, 2020
Before the offers start rolling in, you should prepare for the massive amounts of money that will pass through your hands.
A lot of the money will probably be going to your mortgage.If you own your home free-and-clear, congratulations! For the rest of us, there are a lot of mortgage considerations.
Many people use the proceeds from the sale ...
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10 Tips for Turning a First Home Into an Income Property
March 1, 2020
For the past ten years, Scott McGillivray, a 30-year-old real estate entrepreneur, has made a living by transforming houses into income properties. The 30-year-old currently manages 18 properties with over 100 tenants, and now he's coming to HGTV to help a "house poor" generation create legal income suites and help offset their rising mortgage ...
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7 reason to plunge into the property game
February 5, 2020
If talk about a housing correction are keeping you out of the property investment game, here are seven top reasons to overcome those fears. As real estate veteran Paul Kondakos, president of RealtyHub.ca, points out your time to buy an income-producing property may be now.
1. Mortage Rates - Canadian bond yields continue to sit at historic ...
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Mortgage fraud and recessions go hand in hand, police and experts say
November 24, 2019
It’s tough to tackle the problem of mortgage fraud because no one knows exactly how widespread the problem is, police and industry officials say.
There are no solid Canadian statistics on the impact of mortgage fraud since losses are shared among banks, credit unions, other mortgage lenders, and lawyers’ indemnity funds, according to industry ...
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Benefits of a fraction
September 28, 2019
Divide and conquer! No, that's not a misnomer. Fractional ownership is a way of gaining a luxury you cannot afford on your own. Why purchase an expensive resort home that you'll only use part of the year when you can own a fraction, enjoy the benefits and not worry about maintenance or housekeeping.
This is not the same as a time share. A time ...
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The 'Best Friend-Worst Enemy' Reverse Mortgage Quiz
September 16, 2019
Reverse mortgages are not as complex as the decisions that surround these financial and lifestyle wealth management tools.
When a reverse mortgage is the right solution, it is the only choice and, therefore, you must consider it your best friend.
When other approaches would suffice, a reverse mortgage may be an expensive worst enemy.
Here ...
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NINE LENDING FACTORS
September 14, 2019
Did you ever wonder what a lender looks at when determining the value of your home? A simple price per square foot doesn't always work. Many factors enter into properly pricing real estate with location being one of the top items.
These nine items will give you an idea of how a lender determines the value of a property and how much money the ...
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