Do not Renew your mortgage last minute
  
When your mortgage renews, there are multiple options you can choose from:
1. Keep your mortgage with current lender
2. Get a lower rate at another lender
3. Refinance without penalties and get access to more equity
4. Get a re-advanceable mortgage
5. Get a line of credit
The key is to look at your options 3 to 6 months before your renewal date. You do not want to do a last minute renewal with your current bank without considering all of your options.
Over a 5 year period, your mortgage decreased and your property most likely increased in value.
This opens up a gap that gives you significant options.
If you are a client, I already have you on my watch for renewals. So don't worry about it, you will expect contact 3 to 6 months before your renewal date.
If I do not have your mortgage renewal date, message me and I will put you into our renewal watch system.
You Might Have Hidden Money with the CRA
Yes, you read that right. The CRA has made a way for you to see if you have un-cashed cheques. This could include missed GST payments, HST payments (remember this?), tax refunds, etc.
There are approximately $1 billion in cheques that have gone uncashed. This money belongs to Canadians and we're making it easy for them to get the money intended for them.
As of May 2019, approximately 5 million Canadians had an estimated 7.6 million uncashed cheques with the Canada Revenue Agency (CRA), dating back to 1998.
In order to reunite taxpayers with their long lost funds, we piloted a new uncashed cheque feature in My Account in early February. It lets taxpayers know if they have an uncashed cheque waiting for them and lets them request it be reissued.
There has not been a better time then now to see if you have some 'surprise' money waiting for you.
Full details can be found here: Show me the money
Darren Hardy
Darren Hardy is an American author, keynote speaker, advisor, and former publisher of SUCCESS magazine.
His book The Compound Effect is a must read for business or personal. I've seen him speak a couple of times and have always come away with something.
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