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What Brings Stress Test and 1st January 2018?

Wednesday Nov 15th, 2017

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If you want to know whether you pass your lender’s stress test, simply ask that lender (or any mortgage broker) to calculate your debt ratios. They’ll ask you some questions about your income, debts and mortgage. Then they’ll do the math. Competent mortgage advisors can generally tell you if you qualify in about 10-15 minutes. (Note: If you own more than 1-2 properties, it’ll take them longer to do the numbers.)  Read More  A Detailed Look At... [read more]

Foreclosure v.s. Power of Sale

Tuesday Dec 27th, 2016

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In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

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