The Harper Government Takes Prudent Action to Support the Long-Term Stability of Canada’s Housing Market

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.

c/o Dept of Finance

Get your PRE APPROVAL HERE!!

DID YOU KNOW...? NEW WAYS TO USE OLD PRODUCTS

Have you noticed all of the "amazing new" products that will remove sticker residue, unclog the drain, prevent mildew, remove rust, degrease the garbage disposal, and get rid of toilet bowl ring? Of course there is a special product for every little situation-and none are cheap!

You can use steel wool to:

*Fill a screw hole that has become too big for the screw. Stuff the hole with steel wool and re-insert the screw.

*Make an instant pincushion. Stuff an old sock with steel wool and tie tightly for a pincushion that will keep pins and needles rust free.

*Repel kitchen pests, by placing steel wool around the pipes under the sink.

You can use nail polish remover to:

*Remove sticker residue from glass objects.

*Unstick your fingers after a superglue mishap.

*Remove marker and ink from appliances, glass, and stainless steel.

You can use olive oil to:

*Revitalize leather shoes and baseball gloves.

*Clean greasy hands.

*Repel moles in the yard. Soak a cloth in olive oil and stuff it into the mole hole. Moles hate olive oil!

You can use pop to:

*Remove grease stains from the garage floor.

*Clear a sluggish drain.

*Loosen a bolt that is rusted on.

*Remove stubborn stains from the toilet. Pour in the pop and wait one hour before scrubbing.

But before you go shopping, take note of some of the uses you can get from common products already in your home. I hope these tips come in handy very soon. And remember, if you need help with any mortgage matters, I'm just a phone call away :)

Have a great day!

JEFF LEVASSEUR

Mortgage Agent
License #M09002125

Syndicate Mortgages (License #10846)
Tel: (647) 880-4119
Toll Free Fax: (866) 726-7426
Email: jeff.levasseur@smibroker.com
Web: http://www.canadianmortgagewarehouse.com/
Blog: http://www.canadianmortgagewarehouse.blogspot.com/

SAVE TIME AND MONEY SEARCHING FOR A MORTGAGE

Do you go from bank to bank, trying to find the best rate and the best product that will meet your financial goals?  Are you aware that the more inquiries you have on your credit, the more it bruises your credit? On top of hurting your credit score in the process, do you really have the time to be doing all this searching and running around?  We have the solution for you. 

At Canadian Mortgage Warehouse (powered by Syndicate Mortgages#10846),  We understand how precious your time is, and how important it is to find the best product to reach your financial goals.  Let's put things into perspective for you.  We understand that it may be habit to think of your bank first when needing a mortgage but let's shed a bit of light on the mortgage broker channel and why a mortgage agent will work on behalf of the borrower, and not the lender (bank).

A mortgage agent typically has access to 40+ DIFFERENT lending institutions including your local banks.  What does that mean to you?  You will have access to a wider range of products to choose from, rather than the limited amount of products that the banks want to sell you. (Example, does your bank offer you up to 8% cash back on your home purchase or refinance? That 8% could be handy for a downpayment or paying off some credit card bills on a refinance, even perfect for a 1st time home buyer!)

Some may think that the mortgage channel is only for individuals with bruised credit and only offer higher interest rates than what the bank may offer you.  WRONG, in fact the mortgage agents can offer discounted rates that are lower than your local bank, plus because of the vast amount of lenders mortgage agents use, they can offer products for ALL credit types, excellent, good, bad, and also ugly.

Another great benefit of a mortgage agent is how simple and easy the financing process is.  Here at Canadian Mortgage Warehouse we have made our process so simple for the borrower.  Literally, we take one application from you, we pull one credit check, and we shop your mortgage using that one application and credit check to all our 40+ resources to find you the best product for your financial goals.  You will be amazed at how much time and money we can save you.  You are able to recieve up to four different quotes on your mortgage with one application.  You just pick the best one.  Look at what our past clients have said about our service:

 "Please put us on your schedule/rotation for when the renewal is due you have made this the simplest mortgage process that I have ever gone through.  We received better terms than expected.  We are very impressed and would gladly recommend you to anyone." Kindest Regards, Henry and Vanessa, Newfoundland

 "We are extremely pleased with the service we have received from Jeff, he has been great. He made mortgage financing a simple and efficient process; as well as taking the hassle and stress out of buying a home" Annmarie and Brad Hill, Thunder Bay, ON.

See for yourself.  Fill out this quick form HERE and have up to four different quotes to choose from in as little as 24hrs.  You will be happy you did. Save yourself some money, save yourself some time.  Here at Canadian Mortgage Warehouse, we "Bring The Solution Home"

Phone: 1.647.880.4119
Fax: 1.866.726.7426
Email: info@canadianmortgagewarehouse.ca
Web: http://www.canadianmortgagewarehouse.com/
Web: http://www.canadasbestmortgagequotes.com/

MAKING YOUR HOME OFFICE GREENER

Whether you work from home, or just have a desk in the corner, here are a few simple tips to make your home office a greener place. It may even make it a more efficient space, too!

1) Choosing to buy a laptop over a desktop computer saves a lot on your energy bill. They use almost 50% less electricity, and even less when you use them on their battery.

2) Keep your printer, fax machine, and computer shut off when you are not using them, and turn your power bar off at night. Another tip: Use an internet fax service, it's electronic, you can choose to print what you wish, and it provides more privacy and security for personal information. My faxes come directly to my email and cell phone, I can view them imediately, and print them later. It's a great service!!

3) Switch all your bills to e-bills, and subscribe to online banking. This will save a lot of trees, and make your desk a neater place.

4) Try to reduce the number of documents you print, and use both sides of the paper whenever possible. Only purchase post-consumer paper.

5) Use energy efficient bulbs for your desk lamp or office space.

6) If you are in the market for office furniture look for used. It saves the environment and your pocketbook.

7) Place a recycling bin next to your trash can. If it's there, you'll use it!

8) Purchase environmentally-friendly office supplies. From pencils made of recycled paper, to non-toxic printer cartridges, there is a wide selection available.

9) Consider purchasing your energy from companies that provide it from renewable sources

10) Take yourself off any catalog mailing lists. Usually all the products featured can be viewed and purchased online.

W: http://www.canadianmortgagewarehouse.com/
(Powered by Syndicate Mortgages #10846)
E: info@canadianmortgagewarehouse.ca
P: 647.880.4119
F: 1-866-726-7426

Paying Off Your Mortgage Faster

CALL NOW TO SAVE!! 647-880-4119

What a better way to start off 2011 by putting a financial goal in place.  Wouldn't it be nice to pay off that mortgage faster?  Paying off your mortgage is one of the biggest financial goals of most homeowners, and retiring debt-free can certainly give your golden years a greater sense of financial freedom and stability.

Whether you're nearing retirement age or are just looking to reduce your largest debt load more quickly, here are some great tips for paying off your mortgage faster!

Principal Versus Interest

Essentially, to pay off your mortgage you have to reduce the principal owing on your property. There are really two ways you can do this without dramatically reducing your monthly budget.

Increase Your Monthly Payments

Even increasing your monthly payments by a small amount can take years off the life of your mortgage. You can also choose an accelerated plan whereby you can make weekly or biweekly payments rather than monthly. This will allow you to make a few extra payments each year. Combining these efforts can really have a surprising effect on the principal of your mortgage over a short period of time. We can complete a full Mortgage Analysis for you to help you figure out the exact numbers for your particular situation.

Reduce Your Interest Rate

If increasing your monthly payments is not an option, you can still pay off your mortgage faster by refinancing your mortgage to negotiate a lower rate. Keep your eye on the financial markets to gauge the best time to make this move, and seek out the advice of one of our Mortgage Professionals to confirm that this is a viable option for your current financial situation. If you have a good history of payment and an excellent credit score, finding a lender shouldn't be a problem.

Make A Lump Sum Payment On Your Mortgage

Another way you can decrease your mortgage principal and pay off your mortgage faster is by making a large lump sum payment. If you have come into extra money, have received a large income tax return, or just have a considerable amount of savings, this may be a wise financial decision. It will also dramatically decrease the amount of interest you will pay over the life of your mortgage and thus save you money. Just be sure your mortgage does not include a clause that will penalize you, and then determine whether it is still a good choice before going ahead.

The satisfaction a homeowner feels when they make that last mortgage payment is really unmatched by any other financial achievement, and following these simple steps can more quickly make that dream a reality.

Contact us today for your full Mortgage Analysis and let us help you save some money!!

Phone: 647-880-4119

Email: info@canadianmortgagewarehouse.ca
Website: http://www.canadianmortgagewarehouse.ca/