How to go about securing the best savings strategy in Canada.
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3 Reasons Why You Need to Contribute to Your RRSP… Now Jan 25th
Why is everyone always rushing to contribute to RRSPs this time of year? And does it makes financial sense for you to make extra contributions before the March 1 deadline?
This time of year is often referred to as RRSP season, as many of us rush to make contributions before the RRSP contribution.... More »
Will credit card debt affect my mortgage application? Mar 27th
If you’re shopping around for a mortgage, you probably already know that lenders ask for a ton of financial information before determining how much you can borrow. That list includes your household income and how much you owe—including credit card debt, car payments and unsecured personal loans..... More »
Making sense of the markets this week: September 6, 2021 + MORE Sep 5th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
The rich get richer as rates go lower
We know that lower rates set by central banks help to stimulate economic growth by providing cheap money. On the flipsi.... More »
40% of Canadians say they’ll be in trouble if rates rise + MORE Oct 26th
TORONTO — Four in 10 Canadians say that if interest rates rise any further they fear they will be in financial trouble, a new poll suggests.
The survey conducted for insolvency firm MNP Ltd. also found one in three Canadians say they are already feeling the effects of increasing interest rates.
&.... More »
What are climate action incentive payments? + MORE Aug 14th
If you’ve received a climate action incentive payment (CAIP) from the Canadian government recently, you might be wondering why—is it free money? Do you have to pay tax on it? And what does it have to do with Canada’s climate strategy?
These deposits are the first round of climate action inc.... More »
Citigroup to pay $1.13 billion to settle investor claims over mortgage-backed securities
– canadianbusiness.com
NEW YORK, N.Y. – Citigroup has agreed to pay $1.13 billion to settle claims by investors seeking that the lender buy back billions in residential mortgage-backed securities.
The New York-based investment bank said Monday that the pact it reached with 18 institutional investors calls for Citigroup to make a binding offer to the trustees of 68 Citi-sponsored trusts that bundled some $59.4 billion in home loans into securities from 2005 to 2008.
The settlement offer, which must be approved by the trustees and the court, would release Citi from having to buy back mortgages sold to the trusts.
But the lender would remain vulnerable to other types of investor claims, including misrepresentations in the offering documents associated with the securities. It could also face potential actions by regulators.
The agreement also doesn’t cover home loans sold through private-label securitization trusts via Citi’s consumer mortgage business.
As part of the settlement, Citigroup said it has taken a charge of about $100 million for the first quarter…
The New York-based investment bank said Monday that the pact it reached with 18 institutional investors calls for Citigroup to make a binding offer to the trustees of 68 Citi-sponsored trusts that bundled some $59.4 billion in home loans into securities from 2005 to 2008.
The settlement offer, which must be approved by the trustees and the court, would release Citi from having to buy back mortgages sold to the trusts.
But the lender would remain vulnerable to other types of investor claims, including misrepresentations in the offering documents associated with the securities. It could also face potential actions by regulators.
The agreement also doesn’t cover home loans sold through private-label securitization trusts via Citi’s consumer mortgage business.
As part of the settlement, Citigroup said it has taken a charge of about $100 million for the first quarter…
How broke couple repaid debts of $127,000 in 4 years
– thestar.com
Student loans, credit card bills, car loans can be daunting for a young double who owe a lot. But there are strategiesShould unemployed single mother sell her house?
– thestar.com
This week’s Monday Makeover focuses on Clara, a 55-year-old mother of two who has had trouble finding a job and is dipping into savings to pay her bills.Spring Clean These 3 Areas For Savings
– ratesupermarket.ca
Do we dare say the Polar Vortex has been vanquished? The sun is a stronger presence every day and stubbornly low temperatures are nudging into plus double digits. Spring in full force may take a week or two yet, but that’s not stopping sun-starved Canadians from taking a fresh frame of mind – and that means clearing out the cold-weather clutter!
A good spring cleaning not only starts the season on an organized and efficient foot, but can also earn you a buck or two – and we’re not talking about lost coins under the couch cushions.
Here are three areas to tackle for spring cleaning savings:
In Your Closet
This is a tempting time for shoppers – retailers know you’re itching to ditch the salt stained parka, and store windows are full of bright, breezy duds. But you don’t need to blow your spring budget to look the part.
The trick is to divide and conquer what’s already in your closet:
Purge your closet of items that haven’t made your daily rotation for at least half a year…
How broke couple repaid debts of $127,000 in 4 years
– thestar.com
Student loans, credit card bills, car loans can be daunting for a young double who owe a lot. But there are strategies
