By: Maurice King

Tips for Increasing Borrowing Power

Tags: Tips for Increasing Borrowing Power

In today’s real estate market, knowing how Lenders calculate borrowing criteria, and how you’ll be able to borrow, is extremely important. A few techniques that will help you get approved and moved! 1. Minimize credit lines – Clear outstanding balances on unsecured credit lines, credit cards or other loans. Cancel credit cards you’re not using. 2. Report all income –...Read More

By: Maurice King

Your Business Could Be the Condo Board’s Business

Tags: Your Business Could Be the Condo Board’s Business

Been working from home these past few months?   Check your insurance policy to see if working from home impacts your coverage. The residential condo complex may have a clause in the declaration stating that the complex is strictly residential. So you may not be able to use your place as an office or for other business purposes.   The Board may get involved if an owner has business as...Read More

By: Maurice King

There Are 30-Year Mortgage Amortizations

Tags: There Are 30-Year Mortgage Amortizations

The past 6 months have certainly been stressful. Renewing a mortgage, looking for options to reduce monthly payments? Even though the maximum amortization period for insured mortgages is capped at 25 years, Lenders do offer Conventional Mortgages with 30-year amortizations and may even be able to extend special 30-year options. A longer amortization period typically means lower monthly payments b...Read More

By: Maurice King

A Different Start to Fall

Tags: A Different Start to Fall

It has been a very odd kind of summer as we’ve all become used to staying close to home, wearing masks and being aware of social distancing. What would have been unusual a year ago is now part of our "everyday." Housing markets are upbeat with activity and prices in many areas trending upward in part due to historically-low mortgage interest rates. As expected, the Bank of Canada ...Read More

By: Maurice King

Happy "Welcome Back"

Tags: Happy "Welcome Back"

While following recommendations of health professionals, many of us are now getting out and enjoying sunny days and opportunities to visit, to shop, and if you’re lucky enough to get an appointment, even a haircut. Loosened restrictions are “refreshing” however, there continues to be a need for caution. The end of the lockdown isn’t a return to the old “normal” ...Read More

By: Maurice King

Collateral Mortgage vs Conventional Mortgage

Tags: Collateral Mortgage vs Conventional Mortgage

  When applying for a mortgage, we’re familiar with asking about the term, amortization, interest rate, and monthly payments. There’s another aspect to be aware of. Some Mortgage Lenders are now asking Borrowers to sign Collateral Mortgages — and it could result in a Borrower being tied to that Lender for longer than anticipated. The downsides of a Collateral Mortgage ca...Read More

Master Insurance Policy - Do You Know What’s Covered?

By: Maurice King

Master Insurance Policy - Do You Know What’s Covered?

Tags: Master Insurance Policy - Do You Know What’s Covered?

Condominium Corporations have a Master Insurance Policy that covers the common elements. However, the Master Policy would not cover the inside of a specific suite, so damage to the ceiling, floor, walls, furniture, belongings, as well as personal liability, should be covered by a Homeowners Insurance Policy. At the next Condo Board meeting, suggest a review of the Master Policy with the condomini...Read More

By: Maurice King

Chemical-Free Gardening

Tags: Chemical-Free, Gardening

    With the focus on the environment, chemical-free lawns are already       legislated in most areas. It’s easy to apply green-thinking to controlling       garden pests as well.  • Use plants to attract beneficial insects such as mini-wasps, nematodes, and   ladybugs that attack pests. Or, build a bat box or...Read More

By: Maurice King

Are Extended Warranties Worth It?

Tags: Are Extended Warranties Worth It?

Retailers push them, but before you buy consider this: Repairs may be covered by the manufacturer's warranty.  There's a good chance the product is covered for at least 90 days and if it is defective, you'll know very soon. Check to see if it's a repair or replace warranty. Your credit card may have you covered. Some credit cards automatically extend the manufacturer's w...Read More

By: Maurice King

Access FOB Counterfeiting – A Security and Safety Concern

Tags: Access FOB Counterfeiting – A Security and Safety Concern

Entering a condominium or apartment building using a key fob is easy and convenient. However, fob "copying" companies are springing-up like weeds and that has Condo Boards and Management Companies concerned about safety. And rightly so. Condo owners often copy fobs so friends and family have easy access. And they're often provided to short-term renters, technicians, and tradespeople....Read More