General Moreen Perimal 27 May

The Top 7 Misconceptions About Reverse Mortgages. How much do you really know about reverse mortgages? Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free. Maybe you know that tens of thousands of Canadians are using a reverse mortgage as part of their financial plan. But did […]

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General Moreen Perimal 11 Jan

Architecture and Design Content You Need to Watch (and Listen To and Read)! Feel like you’ve watched every piece of content available on Netflix, and Disney+, Crave, Hulu, or whatever streaming services you use? I feel the same way.  I’m currently rewatching Friends for the millionth time and reciting lines that I didn’t even know […]

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General Moreen Perimal 3 Nov

Credit-Free Christmas in 5 Steps! The holidays are a beautiful time of year, filled with sparkling lights and delicious meals and overplayed tunes. As much as these celebrations bring us joy and harmony, they can also bring us stress. This is particularly true when it comes to your finances! This year, aim for a credit-free […]

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WHY DOES CMHC’S EVAN SIDDALL THINK CANADA IS HEADED FOR A ‘DEFERRAL CLIFF’?

General Moreen Perimal 26 May

In comments delivered to the Standing Committee on Finance on Tuesday, Canadian Mortgage and Housing Corporation CEO Evan Siddall laid out a potentially bleak scenario for the country’s homeowners. Siddall told parliamentarians that by September if Canada’s economic recovery fails to generate enough momentum, 20 percent of mortgages could be in arrears. “A team is at work […]

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THE TOP 7 MISCONCEPTIONS ABOUT REVERSE MORTGAGES

General Moreen Perimal 2 May

The Top 7 Misconceptions About Reverse Mortgages How much do you really know about reverse mortgages? Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free.  Maybe you know that tens of thousands of Canadians are using a reverse mortgage as part of their financial plan.  But did […]

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Bank of Canada Holds Steady Despite Economic Slowdown

General Moreen Perimal 27 Jan

In a more dovish statement, the Bank of Canada maintained its target for the overnight rate at 1.75% for the tenth consecutive time.  Today’s decision was widely expected as members of the Governing Council have signalled that the Bank still believes that the Canadian economy is resilient, despite the marked slowdown in growth in the […]

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HOW TO VERIFY YOUR DOWN PAYMENT WHEN BUYING A HOME

General Moreen Perimal 18 Jan

Saving for a down payment is one of the biggest challenges facing people wanting to buy their first home. To fulfill the conditions of your mortgage approval, it’s all about what you can prove (hard to believe – but some people have lied in the past – horrors!). Documentation of down payment is required by […]

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PRINCIPAL & INTEREST

General Moreen Perimal 9 Dec

            Principal and interest are the two components that make up a mortgage payment.  The principal is the portion of your payment that goes towards paying down the outstanding balance of your mortgage.  Interest is the other portion of your payment which goes directly into the pockets of your lender […]

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PAYMENT FREQUENCY

General Moreen Perimal 9 Dec

        One of the decisions you will need to make before your new mortgage is set up, is what kind of payment frequency you would like to have.  For many, sticking to a monthly payment is the default, however, different frequencies may end up saving you less interest over time. Monthly Payments […]

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