By Karen Beattie, NEXSYS Financial Mortgage fraud in Canada has increased by a staggering 50% in recent years, according to Equifax. While accounting for only 13% of attempted frauds in 2011, mortgage fraud was responsible for two-thirds, or $400 million, of the estimated dollar amount of financial fraud in Canada. According to John Russo, Vice President […]
Canada Home Price Will Continue To Rise (Forever) Or Get Ready For Unprecedented Bankruptcies
8 Myths of Bankruptcy Filing for personal bankruptcy still carries a powerful stigma in this country. Mere mention of the word conjures up images of deadbeats — irresponsible consumers who couldn’t be bothered to get a job or figure out a budget. Yes, there are deadbeats among the bankrupts. But the truth is that there are plenty […]
Mortgage tax-deductible plan for Canadian
The Smith Manoeuvre: A Canadian mortgage tax-deductible plan Canadian homeowners do not enjoy the same mortgage interest deduction that their neighbours to the south do. Fortunately, the Smith Manoeuvre is a powerful financial method that gradually restructures the largest non-deductible debt of your lifetime (your mortgage) into a deductible investment loan. Method Additionally, you’ll receive increased […]
Canada’s debt burden is now at $1.1 trillion
First, the “bad” news – The government is going to make housing purchase much more exclusive … Stricter mortgage rules still slowing CMHC lending Stricter lending rules continue to slow underwriting activity at the CMHC and taxpayers’ exposure to a housing crash, the federal housing agency’s second-quarter report shows. Next, the $1.1 trillion story … Mortgage Debt Exploded […]
Canadian Credit Rendezvous Is finally … Game Over ?
Discount mortgages dry up as Canadian borrowers face tough test The discount mortgages that stoked the Canadian housing boom are disappearing, increasing the likelihood of a correction in home values. On Thursday, Royal Bank of Canada will hike its five-year fixed-rate mortgage to 3.89 per cent, one day after the Bank of Montreal raised its […]
Canada Created History Again – Citizens Become Better Paymasters When They’re More Indebted …
In fact, so much more that it’s hard to phantom how is average Joe going to turn over a new leaf without first declaring bankruptcy (this is likely the conventional scenario everywhere else) ? Canada mortgage arrears rate continues to decline OTTAWA (Reuters) – The already low rate of arrears on mortgages insured by the Canada […]