Just a reminder to all you first time or soon to be first time home buyer's out there! Be sure to get your RRSP contributions into the bank before the end of the month! This is the best savings plan out there as not only are you saving money towards a new home but you are also getting a credit on your taxes for 2010. If you would like more info on this program be sure to read my post on December 7, 2010 or give me a call and I am happy to help with your planning process.
Talk to you soon!
Lacey
604-910-LACE (5223)
http://www.homeswithlacey.com/
Tuesday, February 8, 2011
Thursday, February 3, 2011
IMPORTANT - New Mortgage Rules Beginning March 18.
Hey Everyone,
Just wanted to pass along some information about the new mortgage rules that are being implemented on March 18 of this year. Thank you to Adam Gauer (one of the fabulous mortage brokers that I deal with) for sending me this information. Be sure to give me a call if you have any questions and to review how this may affect or not affect you. 604-910-LACE (5223) http://www.homeswithlacey.com/
________________________________________________________________________________
On January 17, 2011, Minister of Finance, Jim Flaherty, announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership.
“Canada’s well-regulated housing sector has been an important strength that allowed us to avoid the mistakes of other countries and helped to protect us from the worst of the recent global recession,” said Minister Flaherty. “The prudent measures announced today build on that advantage by encouraging hard-working Canadian families to save by investing in their homes and future.”
The new measures:
• Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent. This will significantly reduce the total interest payments Canadian families make on their mortgages, allow Canadian families to build up equity in their homes more quickly, and help Canadians pay off their mortgages before they retire.
• Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes. This will promote saving through home ownership and limit the re-packaging of consumer debt into mortgages guaranteed by taxpayers.
• Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit, or HELOCs. This will ensure that risks associated with consumer debt products used to borrow funds unrelated to house purchases are managed by the financial institutions and not borne by taxpayers.
The Canadian government’s ongoing monitoring and sound underlying supervisory regime, along with the traditionally cautious approach taken by Canadian financial institutions to mortgage lending, have allowed Canada to maintain strong and secure housing and mortgage markets.
The adjustments to the mortgage insurance guarantee framework will come into force on March 18, 2011. The withdrawal of government insurance backing on lines of credit secured by homes will come into force on April 18, 2011.
Be sure to give me a call should you have any questions!
Lacey
604-910-LACE (5223)
http://www.homeswithlacey.com/ (Source: JAC News)
Tuesday, February 1, 2011
THE MONTH OF LOVE
Hello February!
Since February is the month of love I thought I would send a little love your way by saving you some money. The promotion for the month of February is as follows:
If you buy and sell your home through me I will credit back to you 20% of the listing commission!
THAT'S NOT ALL ...
Anyone who sends a referral of a friend or family member for the months of February, March, and April I will write you a cheque for $250 when they move into thier new home.
So be sure to call soon and mention the February promotion. Your call could save you thousands! I look forward to hearing from you soon!
Lacey
PS: Your sale makes a difference. A portion of every sale is donated to the Dusty Shoes Foundation which supports a greater cause. Check out the MORE TO LIFE section of my website to see what we've been able to do so far! http://homeswithlacey.com/more-too-life.html
Since February is the month of love I thought I would send a little love your way by saving you some money. The promotion for the month of February is as follows:
If you buy and sell your home through me I will credit back to you 20% of the listing commission!
THAT'S NOT ALL ...
Anyone who sends a referral of a friend or family member for the months of February, March, and April I will write you a cheque for $250 when they move into thier new home.
So be sure to call soon and mention the February promotion. Your call could save you thousands! I look forward to hearing from you soon!
Lacey
PS: Your sale makes a difference. A portion of every sale is donated to the Dusty Shoes Foundation which supports a greater cause. Check out the MORE TO LIFE section of my website to see what we've been able to do so far! http://homeswithlacey.com/more-too-life.html
Subscribe to:
Posts (Atom)