Hot Tip

/Hot Tip

May 2015

It is not always the lowest rate that is the most important aspect of your mortgage

By | 2015-07-26T12:24:50+00:00 May 30th, 2015|Hot Tip|

Discuss a list of items you should ask about your broker or bank when negotiating your next mortgage:

– How much can I prepay per year with no penalty?

– When can I make these payments?

– How much can I increase my payments per year?

– What is the penalty to break my mortgage? (most are 3 month penalty, with fixed terms having a potential Interest Rate Differential Penalty)

– How is my IRD penalty calculated? (major banks have a really nasty calculation for their penalties that could cost you 2.5 times more than a “non-bank” lender)

– Am I guaranteed your best rate when I lock […]

Hot Tip – Foreclosures in Calgary?

By | 2015-07-26T12:24:50+00:00 May 19th, 2015|Hot Tip|

They are showing up. Some private listings claiming foreclosure are turning up on Calgary's Kijiji (we counted 32 this week) and Craigslist, but they may not be true court-ordered sales. Calgary realtor Stephen McDonald of CIR Realty, (403-680-0799) which handles foreclosures, counted a total of 55 judicial listings of residential property and 60 'bank owned' listings within a one-hour drive of downtown Calgary this week. McKenzie Towne 2-storey detached house for $319,000. Here are two MLS: 1. Detached 3 bedroom house in NW Calgary, under a Court of Queen Bench foreclosure. 2. 1,044 square foot townhouse in SE Calgary. In foreclosure, offers to be presented to Court. More details at