John's August Home News

John Charbonneau -

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john@canadianmortgagefinders.com
604-818-2840
https://www.canadianmortgagefinders.com

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August Foreclosure Listings

 

Abbotsford Attached
Abbottsford Detached
Burnaby Attached
Burnaby Detached
Langley Attached
Langley Detached
Maple Ridge, Pitt Meadows Attached
Maple Ridge, Pitt Meadows Detached
Mission Detached
New Westminster Attached
North Vancouver West Vancouver Attached
North Vancouver West Vancouver Detached
Port Coquitlam, Coquitlam, Port Moody Attached
Port Coquitlam, Coquitlam, Port Moody Detached
Richmond Attached
Richmond Attached
Richmond Detached A
Richmond Detached B
Surrey Delta Cloverdale Detached A
Surrey Delta Cloverdale Detached B
Surrey, North Delta, Cloverdale Attached
Tsawwassen, Ladner Attached
Tsawwassen, Ladner Detached
Vancouver East Attached
Vancouver East Detached

Our August list of Vancouver Lower Mainland properties listed for sale through the foreclosure process has once again been provided by P.A. "Doc" Livingston, PREC.

Feel free to reach out to "Doc" if you would like more information about these properties and  contact me if you would like to know how arranging financing for a foreclosure purchase is different than a traditional real estate purchase.



Out of Province Travel Insurance

 

Many people don’t know that when you travel out of province, and out of the country, your provincial health coverage may not be as comprehensive as while you are in your home province.

For example, if you live in Ontario and were to travel to BC and involved in an accident that involved a trip in an ambulance. The cost of the ambulance is not covered by your provincial policy and that could add up to hundreds of dollars or thousands of dollars if you need an air ambulance.

It’s easy to shop around for extra coverage from suppliers like Blue Cross or CAS.



How A Reverse Mortgage Can Help Reduce Income Tax

 

When you reach the age that your RRSP turns into a RIF and you have to start withdrawing money from the RIF, the Federal Government will finally catch up with you and the money you take out of your RIF will become taxable and the Federal Government will get their share.

Let's say you have a company pension, Old Age Security, and CPP but you need another $2,000 per month to have the retirement lifestyle you want. Assuming you have money in your RIF and let's also assume that you only have to take out $1,000 per month from your RIF as the minimum requirement. Firstly that $1,000 is going to be taxable. And if you take out another $1,000 to get you to the monthly requirement of $2,000 all of that money is going to be taxable.

However, if you were to set up a Reverse Mortgage, you could take out $1,000 per month of your equity in the form of an annuity, and 100% of that money is tax free. There are no monthly payments and you continue to own your home and do with it as you wish.

Reverse Mortgages are increasing in popularity and becoming a more welcomed option in retirement planning and cashflow. I love how home owners lives are changed for the better when I set them up with a Reverse Mortgage. If you have any questions about whether a Reverse Mortgage is right for you, please feel free to give me a call at 1-604-818-2840 or email me john@canadianmortgagefinders.com



Hydroponic Gardening "The Kratky Method"

 

For years, I have been interested in Hydroponic Gardening and this summer I got around to trying it first hand. All hydroponic systems do not use any earth, and most use pumps to circulate the nutrient-filled water through the various pipes where the plants are being grown.

Most systems I have seen have been done indoors, and I don't really have the intention of setting up space in the house to grow plants over the winter so this year's experience has been outdoors only.

The set up was easy and all the supplies are reusable with the exception of the nutrients. I bought three five gallon pails with lids from a big box store, two to grow the plants in and one to mix the nutrients ($20.00). The package of nutrients is designed to maximize the growth of the cucumber and tomato plants. It set me back $50 but will last at least five years based on the amount of plants I intend on growing in the future. Note that I chose to buy the five gallon pails (as I am an overachiever) but you can use whatever container you want that may already be in your home.

I purchased four cucumber plants and four tomato plants. This is not any different than what I would plant in the ground so I don't consider that an expense specific to this "Kratky Method". When you buy these regular plants from a traditional greenhouse, they come in little cells with earth and you have to wash the earth off and that is a little bit of a pain. Next year I will try the plants from seeds and that should be faster and a little less expensive.

I chose a very sunny location and raised the containers on patio stones . The area already had existing gravel on the ground so I didn't need to build a trellis (although that would be an improvement for next year).

Admittedly, I got started late this year (for various reasons) and will plan for an earlier start next year. This weekend I expect to start harvesting cucumbers and expect the yield to be about 35 (more than what our household can use). Tomatoes are coming along nicely and the harvest (remember I was late starting) will be late August.

This system does require a lot of checking on the nutrients. I have a system in mind to drip water and nutrients daily so I would only have to refill water once a week. I will let you know how that works out. If you want more information, go to Youtube and search for "Kratky Hydroponics".



The Hidden Cost of Breaking Your Mortgage

 

You found a better rate. Maybe you’re moving or consolidating debt. On the surface, breaking your mortgage might look like a smart move. But before you pull the trigger, take a closer look at the penalty. In many cases, it can eat up most of the savings or potentially worse.

This guide explains how prepayment penalties work, why they differ between lenders, and how to know whether refinancing early is actually worth it.

CLICK HERE FOR FULL ARTICLE



Passport Control

 

If a trip out of the country is coming your way, make sure you follow these two passport tips.

First, be aware of when your passport expires. Travel can be restricted if there is less than six months left on your passport. Renewing your passport can take longer than it should and there are options to obtain an emergency passport but best be prepared.

For international travel, passports generally need at least one blank page, but some countries may require two to four blank pages. The specific number can vary depending on the destination country's visa requirements. It's advisable to check the specific requirements of your destination country before traveling. Here's a more detailed breakdown:

One page: This is the minimum requirement for many countries, as it's needed for visa and entry/exit stamps according to Canada.ca.

Two or more pages: Some countries require more than one blank page.  For example, countries that issue full-page visas or have strict entry/exit stamp requirements may need more blank space according to Travel Stack Exchange.

Checking with your airline: Some airlines may have their own policies regarding blank pages and may not allow boarding if you don't meet their requirements. Checking with the embassy: According to Travel Stack Exchange, while some embassies don't specify exact numbers, it's always a good idea to check with the specific embassy of your destination country for their requirements. 



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