Combatting Mortgage Fraud: Scrap The Status Quo + MORE Oct 6th

Mortgages in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Good debt and Bad debt…. do we Canadians recognize the difference? Oct 25th

I saw this article from earlier this year about Good debt and Bad debt.  Canadian Personal debt levels have now surpassed $2.21 trillion.  That’s a big number, should we be concerned?  I started to wonder how much of this is Bad debt?  Let’s take a closer look at these stats. First.... More »
 home loans

Big Banks Announce Mortgage Deferral Relief for Homeowners + MORE Mar 20th

Canada’s big banks announced this week that those struggling due to the COVID-19 crisis will be able to defer their mortgage payments for up to six months. The coordinated announcement came from the Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank, and will b.... More »
 mortgage penalties

Mindful Spending and Saving Through COVID-19 Apr 10th

People are finding new ways to run errands and complete daily tasks while the COVID-19 emergency orders are in place. Although these are challenging times, quite a few services can be ordered straight to your doorstep. Shopping is still at our fingertips and seemingly more accessible than ever. For.... More »
 property mortgage

Advice for cash-strapped renters and landlords during COVID-19 + MORE May 17th

When the COVID-19 pandemic swept across North America in early 2020, it created a wave of income loss that impacted people from all walks of life. While some individuals have been hit harder than others, it’s difficult to find a group or industry that hasn’t been affected. A small segment of the.... More »
 bank mortgage

Buying a home? Here’s how to decide how much to put down Oct 22nd

Should you put the minimum down, leaving you more for moving expenses or the maximum to reduce your mortgage payments?.... More »

Combatting Mortgage Fraud: Scrap The Status Quo

– canadianmortgagetrends.com

Canada’s conservative nature means that we have a tendency to abide by the status quo, remaining committed to tradition and the processes that have historically worked in our favour. Fortunately this approach has, in many ways, proven valuable, cushioning us from the damaging effects of various economic downfalls, including the financial crisis of 2008. But with […]

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Death and taxes, the only two things that are certain in life. You’ve heard this one before.  I think there is a third thing that can be just as stressful, ‘interest payments’ (before this article becomes too depressing, I’m going to share some things that will help to reduce our interest costs and minimize our taxes). 
Paying interest on your credit cards, loans, lines of credit or mortgage is something all of us will experience at some point in our lives or, for many of us, for most of our lives.  ‘Paying interest and taxes can be the death of us’.  That’s because taxes and interest payments account for as much as 67% of our gross incomes.  That’s right, 67%!!
Tax Freedom Day (the day in which Canada, as a whole, has earned enough income to pay all their taxes for the year) this years was June 14th.   Any income earned up to this point was paid over to the government.  Any income after this date is paid to yourself.  It’s hard to know exactly how much tax you really pay given there are several hidden taxes such as alcohol, amusement, gasoline tax, property taxes, HST, etc…

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