Mortgages... What You Don’t Know Will Cost You Thousands!

Marla McAlpine, MBA - Mortgage Agent, Mortgage and Debt Reduction Expert

Healthy Wallet - The Mortgage Centre

support@healthywallet.com
416.707.1020
http://healthywallet.com/

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Power of Sales, Foreclosures and Estate Sales

 

Click on the city to see the Power of Sales, Foreclosures and Estate Sales for that area:

Barrie  -  Brampton   -  Burlington

East Gwillimbury  -  Georgina  -  Kawarthas  

Oakville  -  Oshawa  -  Pickering 

Richmond Hill  -  Toronto  -  Uxbridge   

Vaughan  -  Whitby  -  Stouffville



What is the Best Credit Setup to Get a Good Mortgage?

 

Credit... The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

When you borrow money to buy a house, you will be required to prove that you have a good history of managing your credit. 

But what exactly is a “good history of managing credit”? What are lenders looking at when they assess your credit report?

An easy way to remember the minimum requirements for credit is the 2/2/2 rule. 2 active trade lines for a minimum of 2 years, with a minimum of a $2000 limit (although $1500 should be okay).

What is the Best Credit Setup to Get a Good Mortgage?

Two active "trade" lines. You receive a trade line on your credit report anytime a lender extends you credit.

This could be a credit card, a loan with regular payments, or a line of credit. Your repayment history is kept on your credit report. 

In order for a trade line to be considered active, you must use it at least once every three months. Even if you use your credit card for a $20 purchase and pay it in full, that is considered being active.

Have questions about your credit and how it will affect your upcoming mortgage application or refinance? Call me @ 416.707.1020 or message me. I will let you know how to set your credit up to get the best mortgage for you!



Protect Your Home with the Right Insurance

 

By Pamela Foshay, CIP, CAIB, Best Buy Insurance Brokers

Did you know that in Ontario, you are not required by law to purchase home insurance? 

However, if you are getting a mortgage, most lenders require that homeowners buy some sort of coverage. 

Not all home insurance policies are created equal. Coverage will differ based on your particular policy, what type of residence you live in, and other factors.

For example, some policies will cover not only the structure of your home, but also detached structures on your property such as sheds or fences. 

Many policies also offer protection for your personal belongings and include liability coverage, which protect you against legal ramifications should someone injure themselves on your property or should you accidentally cause damage to a neighbour's property. 

Want more information on how to get the right insurance for your needs and budget? Contact Pamela directly at 905.434.1449 or pamela.foshay@bestbuyinsurance.ca, and tell her you saw her article in my newsletter.



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.



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