13 Dec

Canada’s Residential Real Estate Ban

General

Posted by: Peter Paley

This article was published on MLT AIKINS Website on November 8, 2022.  The authors were Saravan Veylan and Dax Moir.   It was one of the best summaries of the anticipated legislation that I have read so far and had to share it. Beginning January 1, 2023, non-Canadians will be subject to a two-year ban on […]

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10 Dec

Financial Mistakes to Avoid in Today’s Economy.

General

Posted by: Peter Paley

Financial Mistakes to Avoid in Today’s Economy. 2022 has been nothing but bad news financially for most Canadians. Our stock portfolios are worth a lot less, everything we buy costs more, and interest rates are making our mortgages and other loans a lot more expensive. More than ever it is time to tread carefully and […]

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27 Sep

Second Mortgages: What You Need To Know

General

Posted by: Peter Paley

One of the biggest benefits of purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a second mortgage? First things first, a second mortgage refers to […]

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4 Aug

TFSA vs RRSP – No Losers in This Battle!

General

Posted by: Peter Paley

TFSA vs RRSP – No Losers in This Battle!. The worst financial mistake you can make is believing that a Registered Retirement Savings Plan (RRSP) or Tax-Free Savings Account (TFSA) is something to look into when you are a little older and more able to set some money aside. The fact is, you don’t use […]

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26 Jul

Tips to Create a Monthly Budget

General

Posted by: Peter Paley

One of the quickest ways to take back control of your finances and understand where your money is going is to create a monthly budget. This will help you get a snapshot of your income compared to your spending, and provides an avenue to review outgoing costs and determine areas for improvement to help you […]

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19 Jul

Debt: To consolidate or not to consolidate? That is the question.

General

Posted by: Peter Paley

If you are a Canadian living in debt, you are not alone. According to Statistics Canada, household debt grew faster than income last year, with Canadians owing $1.83 for every dollar of household disposable income to debt(1). • Canadian households use almost 13.48% of income for debt re-payment(2). • Rising inflation and interest rates (1). • The cost […]

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12 Jul

Financial Advice that Never Gets Old.

General

Posted by: Peter Paley

Financial Advice that Never Gets Old. It’s difficult to find timeless advice in the ever-changing world of personal finance but these five are about as close as you can get. 1. Start small and start early with investing Only around 5% of Canadians under 25 have a TFSA, which means 95% have already missed out […]

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23 Jun

Transform your vacation rental into a welcoming oasis, on a budget.

General

Posted by: Peter Paley

Transform your vacation rental into a welcoming oasis, on a budget. Are you dreaming of buying a vacation rental property, have just bought one, or are strongly considering it? If so, your mind is probably abuzz with design ideas and thoughtful touches you could add to the home. In order to make a rental property […]

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3 Jun

When Was Your Last Credit Check-Up?

General

Posted by: Peter Paley

I can’t even begin to explain how many peoples credit reports are messed up.  Correcting the errors can be time consuming and frustrating.   At Mainstream Mortgages, we alway ensure that our client’s credit bureaus are reporting correctly and if there are any errors we have then corrected at EQUIFAX using their investigation form.  The best […]

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