by DFaubert | Mortgages
A client (we’ll call him John Smith) came in to see me. He owns a home worth $375,000. He told me he has $25,000 outstanding on his mortgage. He also told me he has a $250,000 secured line of credit on his home that is fully advanced. Total owing is $275,000. This is...
by DFaubert | Mortgages
As I sit in a quiet office on Friday Jan 3rd, it’s hard not to notice that though the New Year has begun, seems like everyone is still off work. Richmond Rd, which I normally cross at 8 am to get my morning coffee, was eerily quiet today, reminding me that maybe I...
by DFaubert | Mortgages
As we get into the Christmas spending mode, I thought I would throw out my thoughts on credit cards. I know we don’t live in a perfect world, so take what you can from below. Credit card companies are in the business of making money, lots of it actually, and...
by DFaubert | Mortgages
When Scotia Bank purchased the Canadian arm of ING Direct last September with a closing Dec 31, we knew that the writing was on the wall, only question was to what degree. Obviously, there is a duplication of services, and direct competition between what would now...
by DFaubert | Mortgages
A common question asked, are my thoughts on HELOC’s, or Home Equity Lines of Credit. This is not a new source of borrowing, but certainly one that has become more common today due to large increases in our residential property values. Who wouldn’t want to borrow money...
by DFaubert | Mortgages
I know it’s ‘old-school’ but I still answer mortgage related questions on this ‘forum’ – until I get all of the people who are looking for mortgage and finance related answers to use my new platforms I’ll be continuing to be...
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