Call For more information and to arrange private viewing:

Velibor Perisic

Rule 2: The world doesn’t care about your self-esteem. The world will expect you to accomplish something BEFORE you feel good about yourself.

Rule 3: You will NOT make $60,000 a year right out of high school. You won’t be a vice-president with a car phone until you earn both.

Rule 4: If you think your teacher is tough, wait till you get a boss.

Rule 5: Flipping burgers is not beneath your dignity. Your Grandparents had a different word for burger flipping: they called it opportunity.

Rule 6: If you mess up, it’s not your parents’ fault, so don’t whine about your mistakes, learn from them.

Rule 7: Before you were born, your parents weren’t as boring as they are now. They got that way from paying your bills, cleaning your clothes and listening to you talk about how cool you thought you were. So before you save the rain forest from the parasites of your parent’s generation, try delousing the closet in your own room.

Rule 8: Your school may have done away with winners and losers, but life HAS NOT. In some schools, they have abolished failing grades and they’ll give you as MANY TIMES as you want to get the right answer. This doesn’t bear the slightest resemblance to ANYTHING in real life.

Rule 9: Life is not divided into semesters. You don’t get summers off and very few employers are interested in helping you FIND YOURSELF. Do that on your own time.

Rule 10: Television is NOT real life. In real life people actually have to leave the coffee shop and go to jobs.

Rule 11: Be nice to nerds. Chances are you’ll end up working for one:

Canadians have insulated themselves by shopping for the best
interest rates with the help of a mortgage broker whose market share has
increased. Among those who renewed a mortgage in the past year, the number who
switched lenders was up to 21 per cent in 2011. At the same time, three
quarters of Canadians who renewed or refinanced their mortgage this year saw a
decrease in their mortgage rates. For a five year fixed rate mortgage, the
average discount has been 1.46 per cent during the past year. And fewer
Canadians have taken out equity, down to 10 per cent in 2011.

By comparing rates with different mortgage lenders,
aggressively paying down their mortgages, and decreasing the amount of equity
they take out of their mortgages, most Canadians appear to be in a comfortable
position to weather the economic challenges ahead. In fact, eighty-four per
cent of mortgage holders said they can handle an increase of $200 per month in
their mortgage payments, and 78 per cent have at least 25 per cent equity in
their homes.

“Despite less than positive feelings towards the economy, or
maybe because of that, Canadians are showing a level of prudence in their
decisions that is inspiring,” said Murphy. “That suggests to us that there is
no need for policy makers to introduce new measures that would reduce housing
activity.”

The report is authored by CAAMP Chief Economist Will Dunning
and based on information gathered by Maritz Research Canada in a survey of
Canadian consumers conducted in October 2011.

The CAAMP survey report contains a wealth of industry
information, including consumer choices and borrowing behaviour, opinions on
current “hot topics” related to housing and mortgages, regional breakdowns of
responses, and an outlook on residential mortgage lending. For a copy of the
report, please visit www.caamp.org.

Toronto, ON (November 9, 2011) – Canadians have heard the many cautions about carrying too much debt and are taking action to insulate themselves from future economic downturns, according to the seventh Annual State of the Residential Mortgage Market report by the Canadian Association of Accredited Mortgage Professionals (CAAMP), released today. Highlights: • About one-third (32 per cent) of homeowners with mortgages had some mortgage activity in 2011, with 23 per cent renewing or refinancing their mortgage • Fixed rate mortgages remain most popular (at 60 per cent), while 31 per cent have variable rate mortgages • Among those who renewed their mortgage in the past 12 months, 78 percent saw a reduction in their rate • Among those who renewed or refinanced their mortgages in the last year, 21 per cent changed lenders • Levels of equity takeout have dropped in 2011 – only 10 per cent of mortgage holders took out equity in the last year, a 40 per cent drop from 2010 “Overall, our survey paints a picture of Canadians generally and homeowners in particular as very focused on their finances. They are planning ahead, aggressively paying down their mortgage in advance of any further economic jolt,”” said Jim Murphy, AMP, President and CEO of CAAMP. “Prudent is the word that best sums up how Canadians are feeling at this time.” Canadians secure in their own positions; sceptical about others The 2011 survey found an interesting contrast between individuals’ own debt levels and their feelings towards other Canadians’ financial positions. Forty-six per cent of respondents agreed that “as a whole, Canadians have too much debt” and many believe that “low interest rates have meant that a lot of Canadians, who probably should not have, became homeowners over the past few years.” However, among those with a mortgage, most disagree with the statement “I regret taking on the size of mortgage I did” and a substantial number agree that mortgage debt is “good debt.” Canadians also agree overall that “real estate in Canada is a good long-term investment.” And, despite being concerned about overall debt levels of Canadians, they believe that they personally have acted responsibly.

The CAAMP survey report, please visit www.caamp.org.

MLS.  Close to Bridgeport and Glenridge plaza. Carpet free with hardwood flooring and ceramic tiles. 2 fireplaces, en-suite. large bright finished rec room, over sized double garage plus 2nd circular driveway. furnace and AC replaced in fall of 2009. Open concept
living/dining room with vaulted ceilings. Large bright windows and large patio door!

Velibor Perisic

Sales Representative

Re/Max Twin City Realty Inc. Brokerage

Office:   (519) 579-4110

Cell:      (519) 496-6855

E-mail: vperisic@bell.net

www.remaxtwincity.ca

901 Victoria St North

Kitchener, ON N2B 3C3

Cash Back Mortgages and No Money Down: What they are and how the really work?

Under mortgage insurers guidelines ( CMHC, Genworth Financial and Canada Guaranty (formerly AIG) you must have a minimum of 5% of the purchase price of your own money for down payment. You can withdraw your money from your RRSP up to $25,000 if you are first time buyer, your personal savings, etc.

Depending on your credit rating, income, employment and your total debt, mortgage insurers will allow you to borrow money and/or to receive gift from immediate family member/s (parents or siblings), sometimes even borrow money for down-payment. Criteria is strict and you should consult your Mortgage Agent or your Mortgage Specialist at your local bank if you are planing to borrow money for down-payment of your home.

Cash Back Mortgages

Most banks have CASH BACK programs for people who either purchasing their first home or refinancing existing but they need money for home improvements.

If you are purchasing your first home you still have to show that you have a minimum of 5% down-payment required, and must be from your own sources, can not be borrowed.

Interest rate on CASH BACK mortgages is usually posted rate and term is usually 5 to 10 years fixed, some lenders will allow 3 years for 3% cash back and also interest rate will be posted rate.

No Money Down Mortgages

Until about three years ago, first time buyers were allowed to purchase home with No Money Down. Criteria was that you have to be first time buyers, show good credit and employment history and have 1.5% of your own money for closing cost. The interest rate was usually discounted.

Then government stepped in and made mandatory for everybody that is looking to purchase home to have down payment money of minimum  5%  of the purchase price.

Some banks still offer No Money Down Mortgages, and this offer is available to customers who take out a new  mortgage insured through CMHC or Genworth. The bank will provide an amount equal to 5% down payment to the Solicitor on date of advance. The customer is required to repay the pro-rated amount of the 5% down payment received if the mortgage is paid out, assumed, transferred or early renewed before maturity.  To qualify you have to show perfect credit history, steady income and employment history. Interest rate is usually posted rate, and you still have to show 1.5% of the purchase price for closing cost.

Velibor Perisic

Mortgage Agent

Office: (519) 579-4110

Direct: (519) 496-6855

E-mail: vperisic@mortgagebrokers.com

W: www.mortgagebrokers.com/vperisic

W: www.tricitymortgagebrokers.ca

Mortgagebrokers.com

Brokerage Lic#10408

Getting your mortgage pre-approved will let you know what kind of house you can afford. It will make the search for your home easier and less time-consuming. To get your mortgage pre-approved, you will need:

• your personal information, including identification such as your driver’s license;
• details on your job and proof of your salary;
• information about your bank accounts, financial assets, current loans and other debts;
• how much your down payment will be and where the money is coming from;

 and

Proof that you have enough money to cover the costs of closing the sale — usually between 1.5 — 4 per cent of the cost of the house.

Trouble Qualifying for a Mortgage?

Sometimes, after everything has been taken into account, you may find that you can’t afford the house you want. If that happens, you may want to:  

• Pay off some loans first.
• Save up a larger down payment.
• Revise your target house price.

The Importance of Your Credit Rating

Your credit history gives mortgage providers information on your financial past and how well you have paid your debts and bills.     If you have no credit history, it is important to start building one. This can be done by applying for a credit card.                                       If you have a bad credit history, you can still qualify for a mortgage as long as you have a guarantor — a person who meets the bank’s or credit union’s requirements, has a good credit history, and can guarantee your loan.

Thinking about selling your home?  By your self  using For Sale by Owner companies?

Read THIS article  before you try it at home.

And few things to consider:

FEES

For Sale By Owner Companies- All fees charged are up front and non returnable if you, their CUSTOMER , are NOT satisfied. Different packages with very few different options, but big  difference in their price and to  listing your property on MLS.ca ( Realtor.ca) is OPTIONAL click HERE to see the page.

Realtors- Commission is negotiable and payable once  your home is sold, NO UP FRONT FEES.  And commission most of the time includes full Real Estate  Service (e.g. advertising, For Sale Sign on front lawn, Lock Box,  listed on MLS.ca ( Realtor.ca), listed on company website ( which is usually linked to whole bunch of other networking web sites), Open Houses, Showings, etc).

Negotiating the Sale with the Buyers

For Sale by Owner Companies-You are on your own when it comes to negotiating a sale, consulting a lawyer is HIGHLY recommended, and potential buyers  may not be qualified for mortgage.

Also remember that some lenders  require appraisal to be done prior financing the property that is for sale by owner, and appraiser must be approved by the lender. Price range is from $3oo – $400 + HST.

Realtors are seasoned professionals when it comes to negotiating a sale,  prospective buyers are screened for mortgage  qualifications before any home is shown to them.

For most people in Canada,  home is their biggest investment after their car, and we all take pride in homeownership. One little mistake in purchase and sale agreement can lead to lawsuits and huge monetary losses. All  Real Estate Sales Representatives and  Brokers are required by law to have Errors and Omissions insurance.

Do your research, get informed before you sign.

OTTAWA/Jan. 17/DEPARTMENT OF FINANCE – The Honourable Jim Flaherty, Minister of Finance, and the Honourable Christian Paradis, Minister of Natural Resources, today announced prudent adjustments to the rules for government-backed insured mortgages to support the long-term stability of Canada’s housing market and support hard-working Canadian families saving through home ownership.

“Canada’s well-regulated housing sector has been an important strength that allowed us to avoid the mistakes of other countries and helped protect us from the worst of the recent global recession,” said Minister Flaherty. “The prudent measures announced today build on that advantage by encouraging hard-working Canadian families to save by investing in their homes and future.”

 “The economy continues to be our Government’s top priority,” continued Minister Paradis. “Our Government will continue to take the necessary actions to ensure stability and economic certainty in Canada’s housing market.” 

The new measures:

-          Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with loan-to-value ratios of more than 80 per cent. This will significantly reduce the total interest payments Canadian families make on their mortgages, allow Canadian families to build up equity in their homes more quickly, and help Canadians pay off their mortgages before they retire.

-          Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes. This will promote saving through home ownership and limit the repackaging of consumer debt into mortgages guaranteed by taxpayers.

-          Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit, or HELOCs. This will ensure that risks associated with consumer debt products used to borrow funds unrelated to house purchases are managed by the financial institutions and not borne by taxpayers.

 Our Government’s ongoing monitoring and sound underlying supervisory regime, along with the traditionally cautious approach taken by Canadian financial institutions to mortgage lending, have allowed Canada to maintain strong and secure housing and mortgage markets.

 The adjustments to the mortgage insurance guarantee framework will come into force on March 18, 2011. The withdrawal of government insurance backing on lines of credit secured by homes will come into force on April 18, 2011.

Full Story Click Here, Globe and Mail story Click Here

Well,  it’s still here:

When 76-year-old Joseph Lavalle needed a clock radio — so he could wake up every six hours to put glaucoma drops in his wife’s eyes — he picked one up for $9.99.

The bill for his clock radio came to $14.40 – a 45% increase on the price at the shelf.

The additional charges were the Waste Electrical and Electronic Equipment (WEEE) fee, an eco fee that came to $2.75, and the harmonized sales tax that was slapped on the price and the fee.

On the Canadian Tire receipt, the WEEE fee was under the initials ADS for “Advanced Disposal Surcharge.”

“I talked to the manager and I said, ‘Look this is ridiculous,’” Lavalle said.

To add insult to injury, the store refused to refund the WEEE fee when Lavalle returned the clock radio a day later, he said.

Full Story

And just to refresh your memory read this story.

Stewardship  Ontario is the industry group set up by Queen’s Park to oversee recycling programs,   board of directors:

The current Board includes:

• Ian Anderson, President, CKF Incorporated
• Debbie Baxter, Chief Sustainability Officer, LoyaltyOne Incorporated
• Diane Brisebois, President and CEO, Retail Council of Canada
• John Coyne, VP, General Counsel and Corporate Secretary, Unilever Canada Inc.
• Robert Chant, VP, Corporate Affairs, Loblaw Companies Ltd.
• Ron Davidson, VP, Human Resources, Apotex Incorporated
• Calla Farn, VP, Government, Public Affairs and Corporate Affairs, McCain Foods
• Mark Malo, President, Clorox Company of Canada Ltd.
• Sylvain Mayrand, Executive Vice President, A. Lassonde Industries Incorporated
• Reg McLay, SVP Marketing & Sourcing Services, Canadian Tire Corporation
• Brian Prendergast, Senior VP, Consumer, Recochem Incorporated
• Gordon Meyer, Business Unit Director, Food and Beverage, Pet Care and Home Care, Procter & Gamble
• Jim Quick, President and CEO, Canadian Paint and Coatings Association

And here is direct link to Stewardship Ontario.

Nice job  Mr. McGuinty,  Read Full Story

OH, BY THE WAY, I’m never too busy for your referrals

Velibor Perisic

Mortgage Agent

Office:(519) 893-3463

Direct:(519) 496-6855

Fax: (519) 896-6012

E-mail: vperisic@mortgagebrokers.com

W: www.mortgagebrokers.com/vperisic