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About Mortgages
Buy first home or repay student loans? Today’s question came from Alison in Mississauga: “Hi Ross I currently have a $50, 000 CAD student loan which I must now start paying off. I have a short term work contract, making a $70,000 a year salary. I have about $10,000 in savings, but am unsure about how...
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First home or student loans? This is part two of the response to a question from Alison, who wanted to know if she should first pay off her student loans before saving for a house. You can read part one here. Hi Alison, I like the idea of power saving for the foreseeable future –...
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No condition of financing nightmare Multi offer home purchase situations can be stressful for all involved in the buying process. Typically they rear their ugly head in a heated market, when a desirable home in a good neighbourhood is deliberately listed at a lower-than-market-value price. This can lead to realtors rushing  their buying clients to...
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Why refinancing makes sense What is mortgage refinancing? Refinancing is the process that pays the existing mortgage and/or any other legal claims against the property and sets-up a completely new mortgage. Refinancing can save you lots of money when market interest rates drop one or more percentage points below your present rate. Mortgage refinancing can...
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Come to the dark side Anytime someone wants to borrow money – for whatever reason, from whomever, lenders always ask themselves one  simple question –“will they pay this back?” This is true even if it is your best friend hitting you up for a personal loan, or if you are sitting in your local bank...
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Home ownership for new grads Many industry experts exhort today’s youth to become first time home buyers – In general I am a fan of that plan. It all comes down to having your ducks in order. Your employment, your credit history, your savings, and your tax planning. For young university and college graduates preparing to...
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  Buy a condo after graduating Further to the recent post from a caring mother asking if now is a good time for her soon-to-graduate daughter to invest her savings in a condo with her boyfriend, I received a reply from mom shortly after I posted my answer. Here is the continuing story. Hi Ross, the $15,000.00...
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