Calgary News, Events & Local Insights about Calgary - Blog Archive: April, 2009

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How to Conquer Your Fear and Overcome Homeownership Hurdles
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There are many benefits of homeownership. It creates a level of stability in a person’s life and provides a safe environment for children to grow and learn. A home can also have several financial benefits, creating borrowing power for the homeowner and the opportunity to build wealth that can be passed on to children and grandchildren.

Still, many Canadians are sitting on the sidelines because of all the negative news they have heard on the radio, seen on television or read in newspapers. Others may not have enough extra money to save for a down payment or have other financial difficulties, such as…

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How to Avoid Defaulting on Your Mortgage Payments
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The market conditions have changed quite dramatically over the past twelve months. As a result, some homeowners may stumble upon financial hardships that make it difficult for them to pay their mortgage payments. Once your mortgage loan defaults, the chance of foreclosure increases.

If you or your spouse has lost employment and no longer make as much money, and you see meeting your mortgage payment obligations is going to be problematic, the first step is to take a deep breath. There are literally millions of people that face the same problem. You are not a bad person, so leave any feelings of guilt at the…

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  Many Seller's are now getting hit with some large Mortgage Payout Penalties. It is now more important than ever that they very this information along with their Realtor what their penalties will be if they are not porting their mortgage to their new home.  Unfortunately with mortgage interest rates continuing to fall, most penalties are now calculated on the interest rate differential / loss of interest.
This is because most mortgage early payout penalties are calculated on (1.) three months interest payment or (2.) the interest rate differential whichever is the GREATEST!! Methods of calculating penalties are as varied as the lenders’ imaginations. As a Seller or a Realtor, always remember:

  1. Do not assume the same lender charges…

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