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Are Payday Loans Criminal'
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
Many of us know about payday loans, or have at least seen one of the many storefronts offering them - there are over 1300 in Canada, after all. And while many of us know of, or have heard of, these storefronts that charge extremely exorbitant fees and interest rates, are payday loans criminal'
A payday loan works very simply. You go in and ask to borrow a certain amount of money (according to the Canada Payday Loan Association, the average amount borrowed is $280. You then write a cheque to...
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This Week's Financial Round-Up
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
This week was an exciting one on our blog! We kicked off our first round of mini-series with a close look at closing costs; and we touched on Canada's economy, looking at the most expensive places to live in Canada, and news regarding the National Housing Act, and how it impacts the future outlook of the housing market. In personal financial news, we looked at the one time you need a credit card; and in business news we saw that Canadian businesses are looking forward to the New Year.
In case...
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Closing Costs, Part 2: The Cost of Closing
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
In Part I of our closing cost mini-series, Recurring and Non-Recurring Costs, we looked at the two main types of closing costs - recurring, and non-recurring. We also talked about how important it is to seriously consider closing costs when talking to your mortgage broker or when looking at homes. They're important of course, because it can add up to a lot of money, and you need to know that before you sign any papers. But just how much money does it all add up to' That's what we'll look at...
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Vancouver Hardest Place in Canada to Raise Young Families
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
It's no secret that housing prices in Vancouver are ridiculously high when compared to the rest of the country - and with many places in the world, with the average Vancouver home cost around $750,000. This makes expenses like mortgage payments more challenging than ever, but what about all the other things' Food, clothing, daycare, utilities, and everything else that goes with life' It's challenging. And if things don't change in Vancouver, and the rest of B.C. very soon, the province could go...
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Vancouver Hardest Place in Canada to Raise Young Families
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
It's no secret that housing prices in Vancouver are ridiculously high when compared to the rest of the country - and with many places in the world, with the average Vancouver home cost around $750,000. This makes expenses like mortgage payments more challenging than ever, but what about all the other things' Food, clothing, daycare, utilities, and everything else that goes with life' It's challenging. And if things don't change in Vancouver, and the rest of B.C. very soon, the province could go...
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Vancouver Hardest Place in Canada to Raise Young Families
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
It's no secret that housing prices in Vancouver are ridiculously high when compared to the rest of the country - and with many places in the world, with the average Vancouver home cost around $750,000. This makes expenses like mortgage payments more challenging than ever, but what about all the other things' Food, clothing, daycare, utilities, and everything else that goes with life' It's challenging. And if things don't change in Vancouver, and the rest of B.C. very soon, the province could go...
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NHA MBS Levels are Dropping - What does that mean'
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
To really understand what it means when NHA MBS levels fall, you first need to know what the NHA is, and what its MBS are. And even though it might all sound like too much, it's really very simple, and a concept that most of us are already familiar with. The NHA is the National Housing Act, an act implemented in 1983 and that is now regulated by the CMHC - the Canada Mortgage and Housing Corporation. The NHA's MBS are mortgage-backed securities. In other words, these are the mortgages...
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The One Time You Need a Credit Card
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
Generally, credit cards bring a kind of debt that you don't want. They come with high interest rates and are considered 'bad debt,' since you're not actually investing in anything for your future when using them. However, there is one time you need a credit card, and that's if you run a home business.
The main reason for having a credit card specifically designated for your business is to pay your business expenses with that credit card, and leave them entirely separate from your home's...
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Closing Costs, Part 1: Recurring and Non-Recurring Costs
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
The one term you'll hear a lot when buying a home is "closing costs." At first, it may appear that everyone's getting all worked about them, but you. How bad can closing costs be after all' And why are your real estate agent and your mortgage broker talking about things like having the seller pay them' Closing costs can add up to a lot of money, and this is why every expert will advise you to take them seriously when thinking about your future mortgage. In this first part of our closing cost...
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Bring on 2012, says Canadian Businesses
From Mortgage News in Canada, 7 month ago, Read 0 times. Similar articles
Prime Minister Stephen Harper made the announcement on Thursday that he's expecting the world to go into a "full-blown global recession" by 2012. And while that news is usually enough to have any Canadian business owner running for their calculators, and trying to figure out how they can markup prices to account for the loss, Canadian business owners are doing the exact opposite. In fact, most Canadian business owners believe that the year 2012 will be a prosperous one, global recession or not....
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