A lot can change in the economy, real estate market and your life from year to year.
As a homeowner with a mortgage, it is important to make sure that your potential savings are maximized. There is no reason to wait until your mortgage renewal date to consult your broker. Take advantage of an annual mortgage check-up to assess your options and plan your next steps.
Your broker will start by collecting all of the necessary information on your mortgage and your portfolio. He/She will assess everything to see if they can tweak your mortgage to improve your finances, lower your payments and/or length of your mortgage. They will offer other possible suggestions to make sure that the path you are on will get you closer to your goals.
I have been able to help clients:
Keep better track of where their money is going
Save substantial amounts of money moving forward
Find new ways to decrease debt obligations and increase savings
Your home is one of the most valuable investments. Therefore I want to work with you to ensure that you are on the right track.
Contact me today and find out how I can maximize your potential savings!
Green with Envy: Incorporating Green Into Your Home
With St. Patrick’s Day and spring right around the corner, you may be looking to brighten up your space and give it that FRESH spring feel. Below are a few easy ways to do this in ANY home without drastic changes to the colour of your walls…
Accent pillows are easy decor because you can switch them up as much as you like depending on what colour or patterns you’re liking at the time. Faux fur accent pillows and green patterned pillows can instantly add a nice pop of colour to any couch, chair or loveseat without feeling like you’ve gone overboard!
Succulents are perfect to add a little pop of green to any desk or side table. The bonus? They are VERY low maintenance. You can even purchase fake succulents that require NO maintenance!
From fridges to mixers to toasters there are many appliances (big and small) that are available in various colours from green to yellow to pink. They add a fun twist to everyday life!!
Add some life to your space with coloured lamps, clocks, chairs, etc. You name it, you can find it in a fun colour!
Q: I have recently faced a temporary financial set back. I’m worried that I may miss a mortgage payment. What should I do?
A: When unforeseen financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. With early intervention, cooperation and a well executed plan, you can work together with your mortgage broker to find a solution to your financial difficulties.
1. Talk to your mortgage broker
To increase the chance of successfully managing your financial situation through early intervention, call your mortgage broker at the first sign of financial difficulty;
Ask your mortgage broker about information on the options available for managing your financial situation;
Keep your mortgage broker informed as circumstances evolve.
2. Clarify the financial picture
In order to help your mortgage broker fully understand your financial situation, before meeting with them, prepare a detailed list of financial obligations including any credit cards, loans, household bills with the amounts owing and their due dates. Be sure to include information about your current income, savings accounts, investments and any other assets.
3. Stay informed
The more information you have at your disposal on managing your finances, the easier it will be to make the right decisions.
Your mortgage broker wants to establish and maintain a positive relationship with you over the long term and is fully trained and equipped with the tools to help you deal with the temporary financial setbacks that you may be facing.
For mortgages insured by Canada Mortgage and Housing Corporation (CMHC), CMHC provides mortgage brokers with tools and the flexibility to make timely decisions when working with you to find a solution to your unique financial situation. These tools include:
Converting a variable interest rate mortgage to a fixed interest rate mortgage in order to protect you from a sudden interest rate increase, should one occur.
Offering a temporary short-term payment deferral. Your mortgage professional may be prepared to offer greater payment flexibilities, particularly if previous lump sum prepayments have been made, or if you have previously chosen an accelerated payment schedule.
Extending the original repayment period (amortization) in order to lower your monthly mortgage payments.
Adding any missed payments (arrears) to the mortgage balance and spreading them over the remaining mortgage repayment period.
Offering a special payment arrangement unique to your particular financial situation.