What to do with a rental property when you owe more than it’s worth + MORE Apr 23rd

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Buying ETFs in Canada Tool: The MoneySense ETF Screener + MORE Nov 17th

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How to buy cardano in Canada Oct 14th

The 2021 cryptocurrency market crash (from which, as of October, it has yet to fully recover), has prompted many crypto investors to focus on smaller, less expensive digital coins as alternatives to high-priced bitcoin and ethereum. While the trend has created a wider demand for so-called “altc.... More »
Q. I purchased a stock 15-plus years ago on the TSX Venture Exchange, through a brokerage firm. That firm changed company names multiple times since the purchase. When I went to sell the deadbeat stock last fall, the fourth or fifth incarnation of the company had no records of my purchase and told me to look in my records. Many moves and a flood later, I do not have those records.
I suffered a loss in the particular stock and would like to apply it to gains this year, but I have no documentation of the transactions. I have emailed a few different folks at the TSX but no one has responded. How can I get a complete history of my stock transactions on this exchange? The stock was held in a non-registered account.
–Tonya
A. Even though brokerage firms should keep accurate records of stock purchases, sales, reinvested dividends and stock splits, it is important to note the fine print. Statements and transaction reports, including those sent out to summarize annual capital gains and losses for tax purposes, often state that book values may not be accurate…

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Q. I bought a home in Fort McMurray, Alta., for $413,000 in 2007. Five years later, in 2012, I moved out and started renting the property, and it has remained an income property since then.
With the decline in oil prices, the town of Fort McMurray has seen real estate losing value like crazy. After 12 years of paying the mortgage, I am now underwater. The rent I’m currently able to charge does not cover all of my expenses; in 2018, I received $15,000 in rental income and had $19,000 in expenses, excluding payments on the mortgage principal.  I owe $282,000 on the mortgage, at 3.4% fixed interest; it comes up for renewal in 2024. If I were to sell, the estimated price as of Nov 16, 2019, is $150,000 to $180,000. (Yes, I know it is bad!)
As you can see, I’m in a black hole and I don’t know what to do about it. I am not receiving any positive income and the property value has dropped each year that I’ve held it. I want to sell, but don’t have enough savings to cover the gap between the expected sale price and what I owe on the mortgage…

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