Jim Walker, MA and Caroline Walker, AMP- Mortgage Intelligence

some of my cover photos

http://mortgage-advisor.ca//9-tips-to-survive-the-buy-sell/

https://ca.finance.yahoo.com//spring-real-estate-market-he

A Mortgage http://mortgage-advisor.ca//a-collateral-mortgage-can-tra/

http://mortgage-advisor.ca/mt/helping-your-kid-buy-a-house/

The ins and outs of pre-approvals When you’re house hunting, it’s a great idea to know the amount of mortgage you qualify for, your monthly payments, and that your interest rate will be held for a specified period of time i.e. 120 days. This way you can shop within your price range, you don't have to worry about rates rising, and both realtors and sellers will know you're serious. Be realistic though and make sure you can afford that pre-approved amount; review all of your ho...meownership expenses and your monthly budget. Keep in mind that not all pre-approvals are the same, and that a preapproval is not a mortgage approval. Some are just a simple rate guarantee subject to lots of conditions and a later approval. For a full pre-approval you need to submit your application and documentation so the lender can qualify you, and even then it’s a good idea to have a financing condition in your purchase offer because your property will need to be assessed by your lender. Be sure to not make significant changes after getting the preapproval i.e. changing jobs, adding debt or missing payments, co-signing another loan, or using your down payment money.

Bank of 'Mom & Dad' skewing real estate market? Generally as properties are purchased the market itself will adjust he pricing. As the standard for available money to purchase a property increases, so does the price of real estate. Years ago, (many years) the man would be the sole income earner and housing prices were based on that. When the "dual income" became the standard housing prices rose $10,000 while you were waiting in line to buy. The Hong Kong lease expiring in ...1999 saw another escalation in home prices as properties were being purchased an an accelerated rate. Now the market is experiencing the injection of capital from the Bank of "Mom & Dad". Check out this article by Susan Pigg at the Star http://www.thestar.com//gta_housing_market_remains_resilie

HEARTBLEED ATTACK As you know the CRA has reported a theft of over 900 Social Insurance Numbers. Their systems were breached on April 8th, 2014. Because this is high profile and the CRA was to do their best to mitigate damages, they will be contacting those individuals who have had their SIN’s compromised. THIS IS IMPORTANT!!!!... The ONLY way they will be contacting you is by REGISTERED-MAIL. They will NOT email, They will NOT phone. Unscrupulous fraudsters will be taking advantage of the fall-out and will implement phishing schemes. Let others know that there are always vultures circling around a disaster. The CRA has released a statement that can be seen viewed at the following link. www.cra-arc.gc.ca/gncy/sttmnt2-eng.html