New Mortgage Rules Squeezing Homeowners

The new mortgage rules, called the B-20 guidelines, have locked borrowers into their mortgages and impeded housing mobility.

The government has implemented new rules in which has restricted some homeowners; they are no longer able to qualify for the mortgage they have.

Homeowners are unable to go to a different lender because those lenders have to qualify the homeowners for a new mortgage, and if they do not qualify, those homeowners are stuck with their existing lender.

The biggest challenge to many current mortgage holders is they are unable to shop around for a lower interest rate, even though they have perfect credit and they have never missed a payment. 

Click here to read article

Reclaim Tax Money That is Rightfully Yours!

Don't you wish you can get a giant income tax refund for a change?

What if CRA holding on to tax money that is rightfully yours?

Here’s how you can find out, at no risk to you!

Family Tax Recovery (FTR) helps Canadian tax payers like you reclaim tax money that might rightfully be yours… some find $500, $1,000, even $10,000 to $50,000 and up!

Best is, if FTR doesn’t find you money, you don’t pay.

Check out my Podcast with Stan Samole, President and CEO of Family Tax Recovery, based in Toronto.

Click here and scroll down to Stan's podcast

Hot Property for Sale - Ajax

Price: $679,900
Where: 86 PEARCE DR, Ajax
Open House: Saturday and Sunday May 12 and 13, 2-4pm

Details: Bright, spacious and well-maintained 4-bed 3-bath in central Ajax with lovely backyard. Open concept family room with gas fireplace. Gorgeous kitchen with granite counters. Main floor laundry. Finished basement with rec room and office/craft room.

Click for More Info

For more information, contact:
Lori Roberts, Broker
Sutton Group Heritage Realty Inc.
905-427-8483 or Lori@Sutton.com

Need a mortgage? Don't forget to reach out to me at 416.707.1020 or support@healthywallet.com! I will be happy to help :)

Celebrating a Great Winter Season!

We might be looking like Ladies Who Lunch, but here I am with my Ladies curling team celebrating our second place finish in our division. 

It's tradition to wear fun hats at the closing banquet (with a photobomb!).

Looking forward to the start of curling season next fall!

Spring Cleaning Your Home and Business

By Mia Torr, Co-Founder of AuthenticNetworker.com

Do you like to spring clean your home? How about spring cleaning your business?

The fresh energy spring brings is an excellent time to clear out the old. What can use a refresh in your business?

Could it be dusting off your social media strategy, cleaning up your database, following up with previous clients, unsubscribing from all those mailing lists, or maybe growing your network?

Choosing two or three areas of neglect can save time, energy, and ultimately improve your bottom line. So roll up those sleeves and get cleaning.

Your business will thank you!

Want more information on how to improve your bottom line? Contact Mia directly at mia@authenticnetworker.com, and tell her you saw her article in my newsletter.

Hot Property for Sale

Price: $608,000
Where: 842 St. Anne Crt, Oshawa
Open House: Sunday April 15th, 2-4pm

Details: Bright, spacious and well-maintained raised bungalow in sought-after neighbourhood on a private court.

Huge pie-shaped lot with spacious deck, above-ground pool & attached sun deck and trees offering great privacy.

Click for More Info

For more information, contact:
Lori Roberts, Broker
Sutton Group Heritage Realty Inc.
905-427-8483 or Lori@Sutton.com

And if you need to qualify for a mortgage... don't forget to reach out to me! :)

G'Day Mate! Having Fun 'Down Under' for a Day

My ladies team participated in a fun competitive curling event last month. I am second from the right in this picture.

Just like the Olympics, each team represented a country, and we chose Australia!

Thanks to the amazing creative skills of teammate and realtor Sharon Ridge (left), she sewed on lettering that said "G'Day Sheila" on the front of brown hooded sweatshirts, and made our Kangaroo ears.

In our sweatshirt pouch, we had kangaroo stuffies with joeys in their pouches. Our shirt backs had our last name and the Australian flag. 

We did not win best costume (there were some amazing outfits that day!), though we got laughs when we hopped around like Kangaroos. 

We lost our two games that day, but we had loads of fun!

What silly things have you done lately?

Bank of Canada Holds Key Interest Rate at 1.25%

On Wednesday March 7, a cautious Bank of Canada kept its key interest rate on hold as it bought itself more time to monitor mounting trade-related uncertainties out of the United States.

In sticking with its 1.25% overnight target, the central bank blamed recent trade policy changes for the thickening clouds around the economic outlook.

Read the Full Article Here...

Hot Durham Property for Sale

Freehold Townhome, 2 bed 1 bath: $449,888
21 Haverhill Cres, Whitby. Near McKinney Centre. Click for MLS listing
Call Sharon Ridge at 416-605-2820 or email sridge@rogers.com - Visit Sharon Ridge's Website for more info.

Backyard Winter Fun!

How do you spend your winter? My husband Rick and I participated in some winter craziness!

Friends gathered to compete in a backyard tournament: the red and blue teams compete by throwing frozen jugs of coloured water at an orange ball on the ice (see picture).

The team with the most number of jugs nearest to the ball scores points. Think Bocce Ball on ice... sort of.

To add to the challenge, the ball moves around the ice as we play, so the game is constantly changing! Trust me, it looks easier than it is!

We also got Screeched in, which is a famous Newfoundland ritual... read a saying, drink a shot of "Screech" (a type of rum common in Newfoundland) and kiss a Cod! It was a hilarious day spent with great friends. 

Here I am (in pink) in a selfie with friends. My hubby Rick is in the motorcycle helmet at the front right taking the picture.

How do you make your winter fun?

Free Seminar: Mortgages... What You Don’t Know Will Cost You Thousands

Saturday March 3 @ 10am
OLG Slots at Ajax Down (Downstairs Meeting Room)
50 Alexander's Crossing, Ajax, Ontario

Click Here to Save Your Seat! Space is booking up fast.

This seminar will be worth your while. Without this information, you risk paying thousands of dollars more than you should!

We will also cover the upcoming mortgage rule changes that came in effect as of January 1, 2018

- Find out what the banks are not telling you
- Why a “pre-approval” does NOT guarantee you a mortgage
- How lenders can cancel your mortgage the day before funding (it's happened!)
- The most important factors in your mortgage application, and their impact on how much you pay (interest rate and fees)

For current homeowners and first-time buyers... Save yourself from common mistakes home buyers and homeowners who refinance make when getting a mortgage. This information will make a big difference for your financial future.

Use this valuable information to keep your hard-earned money in your pocket, instead of mortgage lenders.

All current homeowners who attend this presentation receive a report on their home’s current estimated value and a list of recent area sales, free of charge! (Value: $99)

How to Keep the CRA Away

By Ron Brough, Durham Region Accountant and Tax Professional, Your Bottom Line

Have you ever wondered how the CRA (Canada Revenue Agency) decides who to "pick" on; as in which returns they're going to look at and who they are going to harass? 

While there is no exact formula, there is a way to put the odds in your favour. A big part of an experienced local tax professional's role is to keep CRA off your doorstep.

One of the best ways of doing this is to file your returns ON TIME, EVERY TIME and to be as consistent as possible year to year. 

if you would like to learn more strategies and techniques around this concept.  "When the CRA comes knockin', Ron sends them walkin!"

Want more info? Contact Ron Brough directly at 905.431.8276 or ron@yourbottomline.ws, and tell him you saw his article in my newsletter.

Boxer and Chow Chow and Aussie? Oh My!

When we adopted our senior dog Sky last year, the Toronto Humane Society listed her breed as Kelpie/Shepherd, which makes sense since she looks like that mix in her photo, right? (Kelpies are often black and tan.)

My hubby and I decided to get a Dog DNA test to find out more.

We swabbed her cheek and sent in the results. They were (drum roll please...)

... A total hodge-podge of breeds! The most predominant four were: Boxer, Chow Chow, Australian Shepherd and American Eskimo.

No matter her breed mix, she is our cutie-pie. Sky makes us laugh and smile with her silly antics. Her breed medley may be the reason she is still going strong at 13.5 years! 

Get $25 in Free Groceries! But There's a Catch...

Loblaws is giving out $25 gift cards as an olive branch to customers who were angered by the grocer's admission that it inflated packaged bread prices between 2002 and 2015.

Want a gift card? Go to loblawcard.ca and sign up before May 8, 2018. Loblaws is limiting the number of cards it gives out, but does not say what their cap is.

Participating in the program also requires you to give up a lot of personal information, including your name, date of birth, address and other contact information — mainly because the company needs that in order to mail out the cards.

While data like that is a goldmine to retailers, Loblaws says it will not use the information for marketing purposes.

So, if you are okay giving Loblaws your personal information in exchange to get your gift card, sign up for yours before they are all gone.

Read more about this on CBC.ca here...

Keeping Active with Friends and Family during Winter

Back when my husband Rick and I were dating, he introduced me to the sport of curling. I had seen it on TV, but to play the sport is an experience like no other!

Of course, as a newbie, I was a hot mess on the ice. I stuck with it and kept learning. The better I get, the more I enjoy the game.

Now curling for my sixth year, I am still challenging myself... improving my rock-throwing skills and taking on my newest challenge, being a first-year Skip (aka. Team Captain)!

My husband and I moved to a new home a few years ago and curling at the local club has been a great way to meet our neighbours.

What do you do to keep busy during the winter season? 

Bank of Canada Keeps Interest Rate Steady at 1%

On December 6, The Bank of Canada has decided to keep its benchmark lending rate steady at one per cent.

Canada's central bank said Wednesday it has decided to keep its target for the overnight rate right where it is, while rate hikes in July and in September continue to work their way through the economy.

"While higher interest rates will likely be required over time," the bank said, "the current stance of monetary policy remains appropriate."

The loonie moved lower on the news, half a cent to 78.29 cents US, then close down nearly half a cent at 78.20 cents US.

Continue Article Here...

Coming Soon! Pickering Freehold Townhome For Sale

Coming this month! Pickering, Ontario Freehold Townhome, just east of Toronto. Walking Distance to GO train, rec centre, library, mall and more.

Call Lori Roberts, Broker, Sutton Group Heritage Realty Inc. @ 905-427-8483 for more information.

You Asked and You Shall Receive!

Thanks to everyone who asked when I was going to be sending a regular newsletter.

Seems fitting since I share so much information through my seminars and speaking with my mortgage clients, that I add a regular email to keep you up to date. 

Everyone receiving this has opted in voluntarily to my list at some point. If you want to unsubscribe, no worries... just click the link at the bottom of this email.

Hope you enjoy!

Upcoming Events: Women and Money, Save $ on Your Mortgage

Seminar - Women and Money (Nov 9)

Do not miss this free event in Pickering tonight! Thursday Nov 9 at 6:30pm. Rosemary McCanny, CFP and Tracy Campbell, CFP are hosting this event just for women (and men who are invited by a woman). 

As we are raising a family, fostering our careers, planning vacations, volunteering in our community, enjoying friends, juggling life can sometimes be tough. Learn how to make your finances work for you!

Reply to this newsletter email for more details and to attend.

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Seminar - Mortgages: What You Don’t Know Will Cost You Thousands (March 3)

Think a seminar on mortgages is boring? Not worth your time? How about if I told you that spending 90 minutes with me could save you $5,000 or more. That's right!

Last month I hosted a seminar that covered mortgage pitfalls that cost you lots. We even covered the new mortgage rules coming on Jan 1. The audience found out how to save money on their mortgage... cold hard cash they could use for more important things in their life!

Wish you were there? Here's your chance! I am hosting another one on Saturday March 3, 2018, at 10am at OLG Slots at Ajax Downs.

Go to http://healthywallet.com/events to book your seat today. Best part is, it's free!

Man Sentenced, Fined for Real Estate Income Tax Evasion by CRA

Full story here: https://goo.gl/PK25em

I believe the main defense most people give CRA when they are audited for this type of situation is "Oh really, I didn't know." 

Process:
1. Act surprised and in shock
2. CRA processes you with taxes + fines

My guess is this did not happen for Mr. Dhudwal as he owned eight properties, did not claim business income, did not claim capital gains and did not claim rental income on his 2007 to 2011 income taxes.  

This put him in a situation to plead guilty to Income Tax Evasion. 

Quote from article:

“When taxpayers are convicted of income tax evasion, they must still repay the full amount of taxes owing, plus interest and any civil penalties that may be assessed by the CRA. In addition, the court may fine them up to 200 per cent of the taxes evaded and impose a jail term of up to five years.”

If you do the math, rental income (with expenses) + capital gains are generally taxed comparatively low. Do yourself a favour and report accordingly.  

****If you are in the business of investing in or flipping properties, make sure you use an excellent accountant. 

If you need an excellent accountant, I have one. Message me for contact info.