Ellen Roseman

Banks push life insurance on their mortgage and home equity line of credit (HELOC) clients. They make you sign a waiver if you refuse, saying it was offered to you. Tied selling by banks is illegal, but this comes close. Many clients just give in.…

A frustrating story about a wife having to spend a year after her husband’s death fighting with her bank to pay out the mortgage life insurance the couple had purchased. A nightmare scenario! It sounds like @ScotiabankHelps was unresponsive and…

Why is there a lack of new home listings in Canada? - canadianmortgagetrends.com/2023/05/why-is… via @https://twitter.com/cdnmortgagenews High mortgage rates have reduced the number of potential home buyers who qualify for mortgages. But if you’re a…

Buying a house is not an investment. It’s an ongoing expense that will take away from your ability to save for the future. And the equity you build up can be borrowed against easily, leaving you with mortgage debt you may take into retirement.…

“The point at which none of the payment goes towards principal is called the trigger rate – and the vast majority of pandemic-era borrowers have hit it. “This is the case for a full eight out of 10 variable borrowers who took their mortgages out…

Canada’s Variable Rate Mortgage Binge Is Over betterdwelling.com/canadas-variab… https://t.co/DTIjCAzv4a

Great to have you at my class, talking about the pros and cons of buying newly built homes and dealing with @Tarion_ON. I also welcomed @BurnYrMortgage and @bobaaron2 to share their knowledge of mortgages and legal issues respectively.

cbc.ca/news/business/… The homeowners are told they are eligible to receive money back if they buy more HVAC equipment or do home renovations. In reality, their home is used as collateral and they are allegedly tricked into signing mortgage papers…

Is Mortgage Interest Tax Deductible? retirehappy.ca/mortgage-inter… via @RetireHappyBlog Americans can no longer deduct mortgage interest if they do not use their home loan proceeds to purchase, build, or renovate a home. When can you deduct mortgage…

Hybrid or combination mortgage. Portable mortgages. Interest rate differential (IRD). Blend and extend. Assumable mortgage. Lots to learn in this long and well explained list of common mortgage expressions.

It's hard to buy an affordable home in Canadian cities. With a shortage of sale listings in recent years, house prices rose faster than inflation and household incomes, leading to fierce bidding wars in which buyers paid way more than the asking…

The couple moved to Canada from Brazil in 2019 for a better life. Today, they're sitting on a mortgage with a variable rate (currently at 5.6%) on a house that has fallen in value by an estimated $150,000, and paying $4,400/mo. — $1,600 more than…

When you look at how-to advice available to home buyers on mortgages, real estate agents and home inspectors, most of it comes from banks and industry representatives. It has a bias and is often not consumer-friendly. Need to do homework before…

cbc.ca/news/canada/to… A few organized crime groups are behind real-estate frauds, in which 30+ homes in the Greater Toronto Area (GTA) have been sold or mortgaged without the real owners' knowledge. This is from a private investigation firm working…

A series of tweets by a well known Toronto mortgage broker, describing the dilemma facing buyers of yet-to-be built homes that will close in 2023 at a value of 10-30% less than in 2020-21 when purchased. Can they close the deal? #realestatecrunch…

Don’t blame the homeowners for not anticipating higher rates on variable mortgages. In this post, Leslie S. looks at the guidance provided to borrowers by Bank of Canada Governor Tiff Macklem, such as, “you can be confident rates will be low for a…

Real estate agents caught on hidden camera facilitating mortgage fraud for a fee | CBC News cbc.ca/news/business/… These fabricated mortgage applications come at a steep price, well into the $1000s — that's on top of the $1000s agents would make for…