General George Macris 30 Jul
REVERSE MORTGAGE – THE PROS AND CONS You may be seeing and hearing a lot more regarding the Reverse Mortgage in today’s marketplace. I have taken the time to get familiar with the program here in Canada and have been quite surprised by how it’s changed and how different it is to its counterpart in […]
Read MoreGeneral George Macris 26 Jul
CMHC CHANGES TO ASSIST SELF-EMPLOYED BORROWERS As a self-employed person myself, I was happy to hear that CMHC is willing to make some changes that will make it easier for us to qualify for a mortgage. In an announcement on July 19, 2018, the CMHC has said “Self-employed Canadians represent a significant part of […]
Read MoreGeneral George Macris 24 Jul
REFINANCES, RENEWALS & TRANSFERS After you have purchased your new home, closed on your new mortgage, and are all moved in, what comes next? Well, when it comes to your mortgage, the next step is to either refinance, renew, or transfer your mortgage. This decision can be made one month into your new mortgage […]
Read MoreLatest News George Macris 23 Jul
CMHC wants more robust income verification The CMHC wants the Canadian Revenue Agency to provide more robust verification of incomes stated on mortgage applications. The call comes following an investigation by the CMHC into the correlation between incomes stated on mortgage applications and those reported to the CRA. It now wants the tax agency to […]
Read MoreGeneral George Macris 23 Jul
5 REASONS WHY EVERY REALTOR NEEDS A MORTGAGE BROKER AT THEIR OPEN HOUSES Realtor Safety – While we do not have the safety issues that realtors experience south of the border, there have been incidents involving female realtors being assaulted or feeling uncomfortable being alone with strangers walking around the house. Property Safety – Did you […]
Read MoreGeneral George Macris 20 Jul
BREAKING A MORTGAGE – CAN YOU DO IT? Do you have a mortgage? So do I! Looks like we have something in common. Did you know that 6 out of 10 consumers break their mortgage 38 months into a 5-year term? That means that 60% of consumers break a 5-year term mortgage well before […]
Read MoreMortgage Tips George Macris 19 Jul
REMODELING YOUR HOME THIS SUMMER With most of the summer still ahead, it seems like the best time for rest and relaxation. Or… it could mean the perfect opportunity to make those changes around the house that they have been waiting to do since the Spring! A renovation or remodel on your home could […]
Read MoreGeneral George Macris 19 Jul
PORTING A MORTGAGE? Porting a mortgage is something similar to transferring a mortgage. Transfers are when you move your current mortgage to a different lender in order to take advantage of different interest rates or mortgage products. Porting a mortgage is when you keep your lender, but move your mortgage to a different property. […]
Read MoreMortgage Tips George Macris 13 Jul
10 SECRET “TO-DO’S” AFTER YOU FILE CONSUMER PROPOSAL OR BANKRUPTCY Many people go through challenges in life that affect their finances. Divorce, job loss, health issues top the most common reasons. I commend you on getting your finances sorted out and back on track. The moment you FILE that consumer proposal or bankruptcy is the […]
Read MoreLatest News George Macris 11 Jul
Bank of Canada raises overnight rate target to 1 ½ per cent The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. The Bank expects the global economy to grow […]
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