Free Advice
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Yes we’re in the busy season! Lots of shopping, cookies to bake, parties to plan for and to attend. For many though, pesky debt responsibilities can dampen their planning and holiday enjoyment. Others may not worry about their debts, thinking they can always get their financial house in order after the holidays.
But if you’re concerned about your debt obligations, consider adding one more task to your pre-holiday season to-do list! See if you can use your home equity to consolidate your high-interest debt into a new or existing mortgage. You’ll lower your payments, save on interest and (more…)
Popularity: 3% [?]
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Everyday I read (skim) no less than 500 blog posts using my Google RSS reader. Some articles are on marketing, some are on business, others are on golf (although I think all the golf blogs basically repost whatever Geoffshackelford.com is writing on – Tiger Woods infidelity at this moment), and a large number of financial blogs from all over North America.
Financial blogs are the most important of the ones I read given my industry. While one may not always agree with (more…)
Popularity: 6% [?]
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Worried about defaulting on your mortgage? All of a
sudden, your financial life feels a bit like that blockbuster
movie: the one with the hero being pursued by some
powerful and relentless alien monster. In your nightmares,
though, it’s called “debt” – and it’s just as ugly and
frightening. The good news is that the hero generally wins
– by finding the right weapon at the right time. Fighting
debt is a lot the same. When you’re feeling pursued by
the debt demons, it’s time to get smart about finding your
own best weapons. (more…)Popularity: 2% [?]
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If you want to take advantage of the $1,350 home
renovation tax credit, you’ll need to get that renovation
done before February 1, 2010. So if it’s time for a new
roof, new flooring, or a fresh new recreation room . . .
this is the time to get it done.
Here’s the detail. For renovations done between January
28, 2009 and February 1, 2010, you’re eligible to
claim a 15% credit against your renovation expenses
after the first $1,000. The maximum tax credit is
$1,350, which represents $9,000 worth of renovations,
and comes directly off your taxes owing.A wide range of renovation expenses qualifies for the
credit; go to the Canada Revenue Agency web site at
www.cra.gc.ca where there is a list of eligible expenses.
If your renovation project includes some energy-saving
home improvements, you may also be able to tap into
grant money under the ecoENERGY retrofit and other
government and local programs. You may therefore be
able to benefit from both of these incentive programs
for one renovation project.
(more…)Popularity: 1% [?]
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“Will it keep you awake at night? Will you constantly be checking to see what rates doing? Do you think you might panic and lock in if rates are starting to rise?”
All of the above are questions that I ask a client before I give them my perspective on whether a fixed or a variable (adjustable) rate mortgage is right for them. I ask them these questions because I think that choosing between the two options is less of a question of which will save you more money, but more a question of a persons risk tolerance. (more…)
Popularity: 3% [?]
