Christmas in Seattle
  
This year I spent Christmas in Seattle with Michelle's family for a good relaxing 3 days there. We rented a van to fit everyone and luckily there was no lineup at the border.
I've been growing an addiction to playing board games which we did almost every night. There was one day when we all played poker for a small buy in. Michelle's Aunt definitely scammed us all and won everything, that hustler!!
Overall it was a very fun Christmas overall. I hope everyone had a great Christmas and New Years as well.
New Mortgage Rules - Some Useful Information
As has been announced in the news media, mortgage borrowers with more than 20% equity or down payment will have their borrowing power reduced by at least 20% when the govt's new rules took effect on Jan 1st. Here are some points to bear in mind regarding this:
1. Purchase contracts dated prior to January 1, 2018 may be approved using the old qualifying rules regardless of when you eventually apply for your mortgage
2. Any currently approved mortgage requests with material changes made after December 31, 2017 will result in the application being adjudicated according to new qualifying rules. Examples include a change of property, addition/removal of applicants etc
3. Pre approvals on applications qualified under the old rules cannot be extended beyond the original (usually) 120 day period.
Not all lenders use the same qualification rules and you may have more success at one bank over another.
Call Me to Discuss New Rules
Several people have called me about the new rules coming into place for Jan 1st, 2018.
If you would like to discuss how it relates to your mortgage or future mortgages, call me at 604-779-4249 for all the straight goods.
BC Assessments Updated
BC Assessments Have Been Updated. Super easy to use. Look up any BC Address here.
https://www.bcassessment.ca/
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