More Canadians Are Turning To Alternative Online Lenders + MORE Mar 5th

(Betsie Van Der Meer/Getty Images)
Q: I am a 57-year-old widowed medical secretary earning $43,000 annually plus survivor pension of $560 monthly. I do not have a mortgage or car payments or any other debt. My children are grown and on their own. I have approximately $500,000 in RRSP and non-registered. My home is valued at approximately $700,000. My question is could I possibly be able to retire comfortably at 60 years of age?—Kathy
A: You and a lot of other people wonder if they are ready to retire, Kathy. Some know they can’t and they definitely aren’t there. Others are on the cusp. Yet others definitely can, but don’t realize it.
Whether you are able to retire comfortably kind of depends. Here are some of the questions you should be asking yourself:
1. How much money do I spend each month?
2. Will I spend more or less in retirement?
3. What are some of the sporadic expenses I need to budget for beyond my day to day costs?
4. What rate of return should I expect on my investments?
5…

(JGI/Jamie Grill)
TORONTO – Consumers are continuing to pile on debt despite economic uncertainty created by the sharp drop in oil prices.
Credit monitoring agency Equifax says consumer debt, including mortgage debt, rose to $1.529 trillion at the end of 2014.That was up 7.7 per cent from $1.42 trillion at the end of 2013, including a 1.1 per cent increase in the latest quarter.Compared with the same quarter last year, Equifax says national consumer demand for credit was driven mainly by credit cards. Bank and auto inquiries also increased.Meanwhile, the average debt held by Canadians, excluding mortgages, totalled $20,967 at the end of last year, Equifax says.
Despite concerns about consumer debt, the 90-day-plus delinquency rate has remained the same or declined in most regions, coming in at 1.09 per cent nationally in the fourth quarter, the lowest since 2008.
» How to improve your credit score
» How to pay off debt and save for the future
The post Canadian consumer debt hits $1…

Company: Fisgard Asset Management Corporation Position: Commercial Mortgage Specialist Location: Negotiable Commercial Mortgage Specialist Since 1994, Fisgard Asset Management Corporation based in Victoria, B.C. has managed some of Canada’s most respected Mortgage Investment Corporations. The largest, Fisgard Capital Corporation has historically conducted mortgage business in British Columbia and Alberta.  Fisgard is dynamic and growing having recently expanded its mortgage business into Saskatchewan, Manitoba and Ontario. We are seeking an experienced Commercial Mortgage Specialist to join our team. As a Commercial Mortgage Specialist you will apply business development techniques in order to originate, build and relationship manage a third-party network of READ MORE

Who do you turn to if the banks – and your parents – won’t offer you a loan? Increasingly, people are turning to online alternative lenders.
Loans on a leash
Over the past few years the federal government has introduced a number of measures to tighten the Canadian mortgage lending market in an effort to preempt any U.S.-style real estate collapse. These changes have included capping the amortization period on CMHC-insured mortgages at 25 years and requiring the self-employed to provide third-party income verification with their application.
The result has been to force some people to seek out alternative lenders. These options have always existed – ranging from family and friends offering short-term loans, often with little or no interest, to private mortgage arrangements – but the internet (literally) opens up a whole new world of potential connections. The market share of such lenders has increased to 2.2 per cent of all mortgage loans, according to a recent study by CIBC…

Company: Auxilium Mortgage Corporation Position: Mortgage Planner / Client Support Liaison Location: Greater Victoria, B.C. Mortgage Planner / Client Support Liaison About Us Auxilium Mortgage Corporation is an independent mortgage brokerage, serving clients primarily in the beautiful Greater Victoria area. Auxilium, in Latin, means “to aid, assist, help and support”, which is the philosophy behind everything we do for our clients. We work in a team environment to best serve our clients, using traditional lenders as well as private lending, commercial and construction lending, boutique lenders, and MIC’s, in order to best serve the specific needs of our clients and READ MORE