Is your Mortgage Renewing Soon?... What else is out there?

These are interesting times we are living in, with a record inflation that has not been this high since August 1991.  Many clients out of fear of the unknown are simply signing their mortgage renewal agreements without looking at what else is out there.  

The Trudeau government provided many people during Covid 19, particularly those who were self employed, with monetary relief so they could stay afloat. It also resulted in them taking on more debt as they were forced to close shop, but still had to maintain payments on their leases, mortgages and other financial obligations tied to their businesses.

 

There is a huge growth in alternative lending in this sector. Having one payment to consolidate all your debts is the credo under how this lending operates. One can argue you are further ahead with a higher mortgage rate with one payment vs  your low rate mortgage at the bank that keeps you with balances on your unsecured debt. This is because your reported net income on your tax return does not debt service at the mortgage stress test. This rate is currently 5.25% as of April 14/2022.  So what good is low rate on your mortgage when you still have unsecured debt at 2 to 3 times higher. 

 

There is a better way. Want to know more...

 

Please connect with me 

https://RenewYourMortgage.ca 

via email at lindsay@mountainviewmortgage.ca or 

by phone/text @ 416 464 6423

Lindsay Doke Mountainview Mortgage,

Mortgage Agent lic M18001723 

*Photo Mirabella  1926 Lake Shore Blvd W. Toronto 

Housing for Seniors

Survey Says:  Aging in place is the demographic of choice.  Boomers are simply hanging on longer in their own homes refusing to downsize as expected.

“Housing for Older Canadians — The Definitive Guide to the Over-55 Market” was developed to address the housing needs of Canadians aged 55 and older and is intended for those developing seniors' housing, including both for-profit developers and organizations interested in sponsoring housing projects for seniors.  Find out more about this active and mobile demographic, a group that is demanding in their expectations, looking to live independently and interested in "aging in place".

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Volume 1 — Understanding the Market
The first volume provides a broad overview of the seniors market in Canada and of trends in seniors' housing arrangements, incomes, and retirement.

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Volume 2 — Responding to the Market
The second volume provides information on market factors to consider and analyze when contemplating a new housing development targeted to older Canadians.

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Volume 3 — Planning the Project
The third volume contains detailed information on planning and developing a housing project targeted to older Canadians.

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Volume 4 — Designing the Project
The fourth volume provides guidance on the ways in which developers and sponsors of seniors’ housing can accommodate the changing needs of people 55 and over through appropriate design of dwellings and communities.

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Volume 5 — Services and Amenities
The fifth volume reviews the principles for providing services and amenities within housing developments, as well as the range of options for partnering with public, or private, sector providers that specialize in the management and/or delivery of services to older Canadians.

The reality is so many tools, devices and designs can make your home very habitable for a very long time, it is worth the investigation..

A Renew your Mortgage representative would be pleased to review credit lines for home improvements to make you more comfortable.

http://www.renewyourmortgage.ca/services.html

One Car repair away from Losing the House

Things are tight; Gas Prices, the commute to work.

You have bills to pay.  

If anything goes wrong with either of the cars this winter, it could lead to a financial catastrophe.

Although the LENDERS may work with you to let you catch up...

They may not renew you at the next renewal period because of chronic arrears.  (You are constantly behind).

You need some independent Financial Advice from a licensed and seasoned mortgage professionals.

BUT let's look at all the variables; 

• Interest Rate on Renewal
• Higher Interest Balances on Revolving Debt
• Taxes on House and Notice of Assessment
• Consolidation
• Legal Fees and Discharge Penalties

With a refinance program, additional High interest rate debt can be included and re amortized with the mortgage balance to save your monthly cash flow; yet save you money per year on the Total interest payments made.

Interested?

Click Thru and a representative will respond within 24 hours.

Serving the #Toronto #Mississauga and Southern Ontario mortgage markets.

Would you like an EXTRA 3 - 12 Mortgage deals a year?

Mortgage Brokers overlooking a lead generation gold mine!

If you’re not a professional online marketer, Web programmer or active blogger — and most mortgage agents are not — the term search engine optimization (SEO) is intimidating. You know it is really important to how your website attracts potential clients, but you may not know how to make that happen.

One foundation is links.  Quality links that take people back to your online presence.

http://www.renewyourmortgage.ca/affiliates.html

You need to provide Content on your site and blogs with explanations and details about the services you provide.  What is the Best Delivery Method? Video.

Mortgage Brokers need to develop SEO skills or pay someone to do this for them.  Investments of $800 to $1,000 per month for SEO are not uncommon. Turn Key websites can be acquired for $1500 - $2500 depending on the complexity of design.

Get started!   Others are already running!