#opt1mtgfin

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How To Eliminate Credit Card Debt and Pay Zero Percent Interest Video 2:30 #creditrepair   #debtfree   #creditcard   #option1   #opt1mtgfin http://click-to-read-mo.re/p/7fVc/52e54b3a

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Be Careful When You Get A Mortgage  Laura Parsons, the Calgary area manager for mortgage specialists with BMO says consumers have become so focused on getting the lowest rate, that they are paying too little attention to the terms of the contract.  Those low mortgage rates can carry high penalties for breaking the term early.   And don’t expect your bank or the banks ‘mortgage specialists’ to explain any of this to you or to offer you any different options.  Ms. Parsons goes on to say “There is a responsibility of clients to read their documents but also for the lawyers to explain all the terms and conditions.”  Unfortunately, clients usually don’t get to review the documents with their lawyer until closing day when it’s too late to do anything about it.  Ms. Parsons says that people have become so focused on getting the lowest rate, they’re paying too little attention to the terms of the contrac. BMO’s own 2.99% five-year fixed rate closed mortgage has a key stipulation that you can’t get out of the mortgage unless you sell.  5 Things You Should Know About A Mortgage Up Front  1. Know what the penalties will be before you sign a mortgage. You may tell yourself you have no plans to break that mortgage, but 9% of Canadians refinance before the term is up. And, what if you need to sell?  2. Can you port that mortgage? Let’s say you have to sell your home, can that mortgage be transferred to the next property you buy? 3. Are you tied to the bank you signed your mortgage with? Some mortgages cannot be broken unless you sell your home.  4. What are the prepayment terms on your mortgage? A large prepayment term will allow you to pay a lump sum on your mortgage and lower the penalty for breaking any term left. 5. How will the interest rate differential penalty be calculated? If the bank uses the qualifying rate to calculate the penalty, it will cost you a bundle.  Note: There’s no penalty at all when a mortgage is open but you pay a higher rate for that product.  Banks use the mortgage qualifying rate to calculate penalties. The qualifying rate is normally used for consumers to make sure they can afford a hike in rates. It’s based on the five-year qualifying rate of the major banks and published by the Bank of Canada.  One mortgage broker once wrote to the former finance minister, Jim Flaherty, to complain about the practice which he says cost a client a $28,369.51 penalty on a $469,000 mortgage that was being broken.  Some banks have even added a clause increasing the penalty by adding in the discount you received when you signed the mortgage.  It’s interesting how the Banks feel no responsibility to explain these onerous terms to their clients. Clients usually don’t get to review the documents with their lawyer until closing day when it’s too late to do anything about it.   Your best bet is to consult with a mortgage broker or agent. http://option1mortgages.com/mortgage-professionals   We make a point of explaining these charges to our clients to ensure they know what they’re getting into up front. We can also show you alternative low interest rate mortgages that do not carry such high penalties. http://option1mortgages.com/why-use-a-mortgage-broker #mortgages    #ontario    #realestate    #option1 http://option1mortgages.com/   #opt1mtgfin http://click-to-read-mo.re/p/6FtR

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BOOM or BUST?  An article in the Financial Post covers a new Bank of Montreal report that says ‘A sudden and sharp correction in the housing market could have a devastating impact on the Canadian economy overall, enough to trigger another recession’.  Let’s repeat that: A sudden and sharp correction in the housing market could have a devastating impact on the Canadian economy’. Well Duh!!!  The article then concludes with: The BMO report does not suggest a major correction is in the offing, as some economists have predicted. In fact, it argues the opposite. Guatieri says the so-called “bubble” in housing is exaggerated and that Canada is not in the same position the U.S. found itself prior to the 2007 crash.  He also points out that with the exception of Toronto, Calgary and a few other hotbeds, Canada’s housing boom essentially ended in 2008. Since then, price increases have risen only moderately more than incomes.  I think this last part is what’s really important!  http://bit.ly/1i4hY9Z #canadianrealestate   #economy   #option1   #opt1mtgfin http://click-to-read-mo.re/p/6FfJ

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Is It Better To Buy or Rent Real Estate.  HOWEVER NATURAL owning land may seem in our culture, in the long sweep of human existence, it’s a fairly recent invention. When we talk about owning real estate, we're really talking about 'property rights'.    THE HISTORICAL ROOTS  Our feelings about ownership have very deep roots. Most animal life has a sense of territory as a place to be at home and to defend. This territoriality seems to be associated with the oldest (reptilian) part the brain and forms a biological basis for our sense of property.  So, for many people, owning real estate doesn’t just boil down to dollars and cents. People like to put down roots. If you rent the house you live in, you might have to deal with several uncertainties when:  • Your  landlord wants to make the house available to a family member and you’re told you have to move  • The property owner wants to maximize his investment so he replaces appliances and flooring etc., even if it’s not needed so he can increase the rent by 25%  • There’s a change in ownership and the new property owner has other intentions for the property    Living with this type of uncertainty is just not an acceptable way to live for many people, and whether it costs a bit more or less is not an issue for them.    OWNING REAL ESTATE BUILDS WEALTH  Many people approaching retirement may not have done so well with other investments in the past decade. But real estate in Canada has enjoyed an enormous boom, especially in larger cities like Toronto.    Owning real estate has allowed many long-time homeowners to build significant wealth without really trying. That can give you more options in retirement.      BUY or RENT REAL ESTATE    If you look carefully at any study showing that a person is better off financially to rent, you will always find a disclaimer of sorts that says for those who are well disciplined financially.  Any benefit from renting only accrues to someone who is very careful with how they spend their money and they must also make wise investments. That leaves out most people, doesn’t it?  To qualify for the best mortgage rate in Ontario you need to have the proper documents to prove your income. It is very important to provide your mortgage agent or broker with all the correct information up front. http://goo.gl/XEIMwP Incomplete applications are the most common cause for rejection and may even prevent you from qualifying for the best mortgage rate if too many changes are made to the application.  The best advice is: be prepared.   More articles here.. http://goo.gl/5bBXWc #buyorrent   #rentorbuy    #realestate    #option1    #opt1mtgfin http://click-to-read-mo.re/p/6CDK

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O’Leary Mortgages is No More After just over one year in the business, Kevin O’Leary’s mortgage operation has closed the doors. O’Leary’s thought he could make money by making mortgages simple and offering only a few basic products. He would then build efficiencies into the processing of mortgage applications and create a winner. The problem with that idea is that the mortgage business is not as simple as it seems. The terms and legal disclosures along with lender commitments are complex and do not lend themselves to being simplified. O’Leary Mortgages obviously didn’t generate the returns O’Leary expected. Like many businesses, the mortgage business requires a long term approach and a significant commitment of time and money. It’s also a people business. It’s important that you like people and want to help them fulfill their dreams. That’s why we leave no stone unturned    http://option1mortgages.com/why-use-a-mortgage-broker   when trying to find the right financing package for your clients. It’s not a get rich quick scheme, even for ‘big’ names. #o'learymortgages #mortgages #option1 #opt1mtgfin http://click-to-read-mo.re/p/6xZe

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Young Canadians Feel Housing Is A Good Investment According to a recent poll by RBC, young Canadians feel that housing remains a very good investment. 86 per cent of the 25-34 year old group believe that owning a house or condo is a very good investment. The intention to purchase has increased in nearly every region in the country. Interest from the 25-34 age group has increased from one-in-four in 2013 to nearly 41 per cent in 2013. While the majority of Canadians (62 per cent) intend to buy a home with their spouse or partner, more than one-in-four (28 per cent) Canadians intend to buy a home by themselves. The main considerations by those who intend to buy this year are the stability of their job situation and manageable debt levels. Four-in-ten will be first time homebuyers. Option1 Mortgages http://option1mortgages.com can help you with your financing needs all across Ontario. Start by getting pre-approved so you know how much house you can afford. We’ll also make sure you’re ready for things like budgeting for closing costs and getting a home inspection. We can also help you with affordable mortgage insurance http://option1mortgages.com/mortgage-insurance for your peace of mind. One Call Does It All at Option1. #mortgages #insurance #option1 #opt1mtgfin http://click-to-read-mo.re/p/6wV8

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GOOGLE+ vs FACEBOOK    http://option1mortgages.com/google-vs-facebook  As of February 2014 Google+ has over 1 billion users and is set to overtake Facebook by the end of the year. Yet, popular opinion has it that G+ is a ghost town and is hardly used by members while Facebook is a constant buzz of activity.  The interesting thing about the saying that ‘Google+ is a ghost town’ is that it's only made by people who don’t use Google+ or by those who haven’t put in an honest effort to make the platform work for them.    But Our Customer Aren't on Google+. Really?    Here’s a question: if you want to be where consumers are spending time, isn’t Google a big enough attraction for you? That’s where people go when they want to buy something. As a business person, are you trying to sell something?  With Google Plus, you control who sees your posts. Not so with Facebook. Between the dilution of organic search and the suppression of posts, Facebook has further reduced businesses ability to get in front of their audience.    Pages Must Pay To Reach Users on Facebook    Facebook’s organic Page reach has been on a continuous decline for most Page owners for some time now. In a recent post, Facebook confirmed Page owners will be reaching fewer fans, due to the competition for each News Feed story.  Facebook is now a pay-to-play platform for business Pages. Page owners are unhappy and annoyed with the fact that they now have to pay to reach their fans on Facebook. The question is, what are they going to do about it?  For smaller businesses, the idea of a level playing field to compete with larger competitors is now gone. The majority of small businesses simply don’t have the budget or resources to compete if they have to pay for ads!    Who is Being Hit Hardest by Facebook Changes?    The two groups that will be hit hardest by Facebook’s pay to play changes are the average user and small to medium sized businesses.  Users want to see the content from pages they have already liked and businesses want to reach the users they have already invested in to acquire.        How to Best Use Google+    Like any social media platform, Google+ can be overwhelming to use at first. The site is huge and new features are constantly being added. Google is always innovating, and G+ is no exception. So, how can you make the best use of this social media platform?    How To Get The Most From GooglePlus    • Tag people.  • Set up Google Authorship.  • Post on Community pages.  • Cross post to G+.  • Use Google+ Events to launch products.  • Use G+ to write long messages, and then tweet the link via Twitter.  • Incorporate keywords.  • Use images.. • Use bold and italic text styles.  • Emphasize G+ on your website or blog..    See you on Google+ ;-)  #googleplus   #facebook   #option1   #opt1mtgfin    http://option1mortgages.com http://click-to-read-mo.re/p/6qDI

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The cost of detached homes in Canada http://option1mortgages.com/cost-detached-homes is becoming too much for the average family in a number of larger Canadian cities, according to an analysis carried out by The Huffington Post Canada.  Seven out of 26 of Canada’s largest cities fell into the “unaffordable” category.  The Huffington Post had a few mortgage brokers calculate how much home buyers could afford, and then excluded houses worth $100,000 more than the maximum mortgage amount buyers qualified for.  I'm not sure why the Huffington Post would structure the analysis to eliminate houses that fit in this $100,000 gap. It skews the results and obviously leaves out many homes that would fall into the affordable category.  Read the article here..   http://option1mortgages.com/cost-detached-homes   #mortgages   #realestate  #option1   #opt1mtgfin   #ontario http://click-to-read-mo.re/p/6pOo

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Where Can You Get The Best Mortgage in Toronto? Many mortgage broker sites advertise the ‘Best Mortgage Rate in Toronto’. But finding the lowest mortgage rate and finding the best mortgage are two different things. There’s a difference between getting a good deal and finding the cheapest product. People understand this when they shop for cars. They don’t shop for the cheapest car. Why? They know there’s a difference between a Kia and a Mercedes. They’re both cars, but they are not the same type of car. That’s an extreme example, but it’s a point that many people seem to miss when it comes to mortgages. Not All Mortgages Are The Same Most consumers assume that a mortgage is a mortgage. They understand that there are different terms and rates, but too many people think that’s the only difference that exists between mortgages. That was a not such a huge mistake until a few years ago, when several banks started using collateral mortgages http://option1mortgages.com/what-you-need-to-know-about-a-collateral-mortage. In the past, home loans were always conventional mortgages and they were registered as a standard charge unless the person was applying for a Home Equity Line of Credit (HELOC). But in 2010, a few banks started to register home loans as collateral mortgages rather than standard charge mortgages. Today, most banks in Canada no longer offer conventional mortgages at all. So, what’s the big deal with collateral mortgages? • The mortgage is registered at 100% to 125% of the value of the home, no matter how large the down payment – your equity’s all tied up • You can’t transfer the mortgage to another bank – you’re stuck • Heavier penalties when you try to get out of the mortgage • No automatic approval for extra funds • the bank can raise your interest rate by up to 10% because the loan is registered at a charge of prime plus 10% What’s important to remember is this; there are other ways to get that same low rate http://option1mortgages.com/why-use-a-mortgage-broker without tying yourself up like this. Call us at (800) 722-7172 or and find out what your options are and make a choice you won’t live to regret. #mortgage Toronto #collateralmortgages #realestate #option1 http://option1mortgages.com #opt1mtgfin http://click-to-read-mo.re/p/6n68

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Refinancing a mortgage. You might think there’s never been a better time to refinance your mortgage given the current low mortgage rates. Record low rates such as these would normally be producing a boom in mortgages and the accompanying home renovation construction activity. But tight lending standards are making it difficult for many borrowers to refinance, even if they have good credit and a healthy down payment. It makes sense to consult with an expert to make sure you'll be able to satisfy the tougher lender requirements that are in place in today's mortgage market. Meeting the qualifying hurdles requires a more concentrated effort in preparation than it did in the past. If you miss the mark on the initial application, it becomes much harder after that failed attempt. Read the article here.. http://option1mortgages.com/refinancing-a-mortgage https://plus.google.com/+MarianneLalondeOption1/ #refinancing #refinance #mortgage #option1 #opt1mtgfin http://click-to-read-mo.re/p/6l6M

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Mortgage professionals can offer you more financing options than any single bank or financial institution can. These choices have helped homeowners build up wealth in their real estate portfolios over the years. For most Canadians, the equity in their Real Estate holdings makes up the largest piece of their life savings. For people approaching retirement, real estate in Ontario has proven to be a wise investment over the years. Other investments have done well for some, but the value of property has enjoyed an enormous boom, especially in larger cities like Toronto. Owning real estate has allowed many long-time homeowners to build wealth without really trying. No matter how you go about it, you will be spending a significant chunk of your earnings on a place to live. Option1 Mortgages & Financial Services can help you with mortgages or life insurance in most locations in Ontario, Canada. https://plus.google.com/+MarianneLalondeOption1/ http://option1mortgages.com/mortgage-professionals #mortgages #mortgagebrokers #option1 #opt1mtgfin http://click-to-read-mo.re/p/6kFH

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Is BMO’s 2.99% Rate A Good Deal?    Although BMO's rate cut got a lot of attention, the bank is not the first to drop its rate below 3%. TD Canada Trust and Scotiabank already offer four-year fixed rates below 3% while Ontario's Meridian Credit Union and various mortgage brokers http://option1mortgages.com/ have been offering a 2.99% five-year rate since last month.  Meanwhile, mortgage brokers and some other financial institutions began offering them last month. Mortgage brokers, who get about 40% of Canada's mortgage business, will be working hard to explain to clients that there’s more to look at than just the mortgage rate.  Brokers will feel pressure to go lower, especially if the customer is already a BMO client.  Other banks will probably adjust their rates to compete with BMO. Even if not publicly, the other banks would probably cut clients a deal if asked to match the rate. It’s important to remember that none of these banks will offer you the traditional mortgage most Canadians think they are getting.  Low Mortgage Rates Are Now The Norm  Canadians have gotten used to extremely low mortgage rates in recent years, which means that a rate cut like BMO's just doesn't make the kind of impact that it once did.  While a 2.99% mortgage might make home ownership a bit more affordable, in tight markets like Toronto, it's unlikely to make much of a difference.  Many might choose a fixed mortgage rate when there's little difference between fixed and variable rates. It's also easier to qualify for a five-year fixed mortgage since brokers can use the actual mortgage rate when assessing eligibility rather than the government's benchmark qualifying rate of 5.24 per cent.  BMO's 2.99 per cent rate is not a deal given the strict conditions that limit what you can do with the mortgage.  Since the prime interest rate is expected to stay low for at least the next two years, home buyers are better off with a variable rate and a mortgage that gives them options to insulate themselves against future rises in the interest rate.  The best product is a variable rate that has flexibility and will allow you to lock in, if rates start to rise significantly.    Low Bank Rates Come With Many Strings Attached  While BMO's new 2.99 five-year fixed rate might seem enticing at first glance, consumers need to pay close attention to the many restrictions attached to it and might be better off taking a higher rate with more flexibility.  This discounted rate is not for a standard mortgage, but for a collateral mortgage http://option1mortgages.com/what-you-need-to-know-about-a-collateral-mortage . There are many restrictions with collateral mortgages when it comes to things like refinancing, adding someone to the title, transferring the mortgage to another property or having someone else take it over.  Mortgage terms can have serious consequences. That’s why it's so important to go over the fine details with a mortgage agent who is knowledgeable about the market and not tied to any one specific lender.    #mortgages   #realestate   #collateralmortgages   #ontario   #opt1mtgfin   #option1 http://click-to-read-mo.re/p/6i96

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There's a saying that the only certainties in life are death and taxes. Having a life insurance policy in place can provide much needed relief when your loved ones really need it. We all have different budgets and needs. The good news is that life insurance policies can be tailored to accommodate your situation whatever it is. Life Insurance Can: • Protect your dependents • Preserve your estate • Provide funds to pay capital gains for your estate • Provide protection from creditors Read the article here.. #lifeinsurance #estates #opt1mtgfin #option1 http://click-to-read-mo.re/p/6dDc

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COST OF OWNING REAL ESTATE    There’s been a lot of discussion about whether it's better to own or rent real estate. Mortgage rates are still very low and that makes it a good time to invest in property. http://option1mortgages.com/ https://plus.google.com/+MarianneLalondeOption1/ If you look carefully at any study that shows that it’s better financially for a person to rent, you will always find a disclaimer says something like for those who are well disciplined financially.  The only people who benefit from renting are people who are very careful with how they spend their money and are very good with investments. That leaves out the large majority of people, doesn’t it?  Second, people tend to buy as much house as they can afford and they will then make improvements to the property, simply because they own it rather than rent it. These two tendencies alone make it difficult to compare owning vs renting with any precision.  Lastly, most of these studies peg home maintenance costs at about 4% of value annually. The assumption is that the average homeowner has to spend about $16,000 per year on home maintenance just to maintain the value of a typical $400,000 home.  _They’re kidding, right?_   Read the article here..  #ontariorealestate   #mortgage   #investing   #opt1mtgfin http://click-to-read-mo.re/p/6cO7

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Inspiration From Richard Branson. Whether you're in Real Estate, Insurance, Social Media Marketing, or whatever business, this list of success tips from +Richard Branson will help you get on track and stay on track. The List: 1. Follow your dreams and just do it 2. Make a positive difference and do some good 3. Believe in your ideas and be the best 4. Have fun and look after your team 5. Don’t give up 6. Make lots of lists and keep setting yourself new challenges 7. Spend time with your family and learn to delegate 8. Try turning off the TV and get out there and do things 9. When people say bad things about you, just prove them wrong 10. Do what you love What are your top tips for success? #success #businesstips #opt1mtgfin http://click-to-read-mo.re/p/6cpo

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Thinking of buying real estate in Toronto.  There's lots of good information about Toronto real estate and your financing options in this article. For most Canadians, the bulk of  their life savings comes from the increase in the value of the house they buy. Nearly 70% in fact. The majority of people have to finance that purchase of real estate. It's important to know that not all mortgages are the same. Recent changes in the Canadian banking industry could have a big impact on your life style. Read the article here... #realestate   #ontariocanada   #torontorealestate   #opt1mtgfin   #mortgage http://click-to-read-mo.re/p/688U