Welcome to the RE/MAX Waters Advantage! Orangeville Real Estate Blog

Three Minutes Might Change Your Life

Do you have a few minutes?  This is one of the best summaries I've ever seen of success principles from the TEDTalks sessions.  It's put together by Richard St. John. 

His website is www.sjohn.com.

Mortgage Fraud Recent Update - Good News!

Great news from the government!  They finally did something about a terrible problem I mentioned last month.

In response to growing concerns about real estate fraud, the provincial government has passed Bill 152, the Consumer Protection and Service Modernization Act, which provides various new safeguards for property owners.

Government Actions
Under Bill 152, the Land Titles Act is amended to ensure that ownership of a property cannot be lost as a result of the registration of a falsified mortgage, fraudulent sale, or a counterfeit power of attorney. The proposed legislation will also:

• Implement a streamlined and expedited Land Titles Assurance Fund process for individuals who are victims of fraud so that title is returned and a decision on compensation is made within 90 days. More information about the Land Titles Assurance Fund is available here. Information on how to make a claim to the Land Titles Assurance Fund is available here.
• Introduce new safeguards for suspending and revoking the accounts of fraudsters so that they cannot register documents, and
• Raise existing fines for real estate fraud related offences from $1000 to $50,000.

What is real estate fraud?
Real estate fraud has recently received attention from the real estate, legal, and financial communities due to its increasing prevalence. Real estate fraud can take various forms, but one of the most serious is title theft, whereby title to a property is transferred fraudulently without the true property owner’s knowledge. The home can then be sold without the true property owner’s knowledge or a mortgage can be placed on the property, which could become the responsibility of the unsuspecting rightful property owner.

In response to growing concerns about real estate fraud, the provincial government has passed Bill 152, the Consumer Protection and Service Modernization Act, which provides various new safeguards for property owners.

Government Actions
Under Bill 152, the Land Titles Act is amended to ensure that ownership of a property cannot be lost as a result of the registration of a falsified mortgage, fraudulent sale, or a counterfeit power of attorney. The proposed legislation will also:

• Implement a streamlined and expedited Land Titles Assurance Fund process for individuals who are victims of fraud so that title is returned and a decision on compensation is made within 90 days. More information about the Land Titles Assurance Fund is available here. Information on how to make a claim to the Land Titles Assurance Fund is available here.
• Introduce new safeguards for suspending and revoking the accounts of fraudsters so that they cannot register documents, and
• Raise existing fines for real estate fraud related offences from $1000 to $50,000.

What is real estate fraud?
Real estate fraud has recently received attention from the real estate, legal, and financial communities due to its increasing prevalence. Real estate fraud can take various forms, but one of the most serious is title theft, whereby title to a property is transferred fraudulently without the true property owner’s knowledge. The home can then be sold without the true property owner’s knowledge or a mortgage can be placed on the property, which could become the responsibility of the unsuspecting rightful property owner.

This Knowledge Could Save You Thousands

On the weekend, I had the chance to sit down with my friend and mortgage consultant, Alexis Drake.

We were talking about contractors, and how they don't show up when they say they will.  They break promises all the time.

You book an appointment with them, and then something comes up... or they forget about you...

The service you get from most contractors is really poor.  Most are good technicians, but not good business people.

Then we spoke about how things can be different in real estate and mortgages, and how sometimes they are the same.

We spoke about lies that people are told, and multiple examples of stories we've heard about poor service in the real estate and financing end.

What frustrates me about 99% of all mortgage "specialists" is that many are nothing more than glorified "order takers".

Let me explain:  Most people want the lowest rate because that's what they think is most important, or that's what they've been told to shop for.  They put as much money as they have into a downpayment and put the rest on a 25-year fixed-rate mortgage.

This might be okay for some, but for the majority of people, this is a terrible plan.

Not to say that rate isn't important.  It is.  But I can easily show you that it's not the most important thing.

It's really sad.  Alexis and I share the belief that it's completely inappropriate to help someone with a mortgage outside of the context of their total financial picture.

If someone does not consider your financial situation, along with where you want to be in the future, and structure a plan of how to get you there, it's really a form of malpractice.

Here's another thing I wanted to talk about... banks.  Why do people feel so loyal to their bank?

You, like me, know that the bank gets rich by taking your money.  The better the bank does, the worse you do.  Your interests are in complete opposition.  It's win-lose every time.

What I love about Alexis, and a good mortgage broker in general, is that it's win-win.  Alexis's service is free because she gets paid by the lender... AND her sole responsibility is to make sure your best interests are protected at all times.  In fact, she'll look through more than 200 different mortgage programs from more than 40 sources, find the best ones, and then create an "auction" effect between them to guarantee the best terms to your benefit.

Great service, super results and a long-term commitment to your success.  That's so far ahead of the majority of the industry, and when things are in Alexis's hands, I know they will turn out positively.

Peace of mind really is priceless, and it's not often I find somebody I really trust.

Remember - you are buying a home, and you are buying a mortgage.

Alexis can be reached at [email protected] or by phone at 416-951-9602  Tell her I sent you, and I'm sure you'll thank us later!

Also, click here for a copy of our Free Report - Four Steps to Financial Peace.  Be sure to pass it along to somebody who could benefit from it.

We were talking about contractors, and how they don't show up when they say they will.  They break promises all the time.

You book an appointment with them, and then something comes up... or they forget about you...

The service you get from most contractors is really poor.  Most are good technicians, but not good business people.

Then we spoke about how things can be different in real estate and mortgages, and how sometimes they are the same.

We spoke about lies that people are told, and multiple examples of stories we've heard about poor service in the real estate and financing end.

What frustrates me about 99% of all mortgage "specialists" is that many are nothing more than glorified "order takers".

Let me explain:  Most people want the lowest rate because that's what they think is most important, or that's what they've been told to shop for.  They put as much money as they have into a downpayment and put the rest on a 25-year fixed-rate mortgage.

This might be okay for some, but for the majority of people, this is a terrible plan.

Not to say that rate isn't important.  It is.  But I can easily show you that it's not the most important thing.

It's really sad.  Alexis and I share the belief that it's completely inappropriate to help someone with a mortgage outside of the context of their total financial picture.

If someone does not consider your financial situation, along with where you want to be in the future, and structure a plan of how to get you there, it's really a form of malpractice.

Here's another thing I wanted to talk about... banks.  Why do people feel so loyal to their bank?

You, like me, know that the bank gets rich by taking your money.  The better the bank does, the worse you do.  Your interests are in complete opposition.  It's win-lose every time.

What I love about Alexis, and a good mortgage broker in general, is that it's win-win.  Alexis's service is free because she gets paid by the lender... AND her sole responsibility is to make sure your best interests are protected at all times.  In fact, she'll look through more than 200 different mortgage programs from more than 40 sources, find the best ones, and then create an "auction" effect between them to guarantee the best terms to your benefit.

Great service, super results and a long-term commitment to your success.  That's so far ahead of the majority of the industry, and when things are in Alexis's hands, I know they will turn out positively.

Peace of mind really is priceless, and it's not often I find somebody I really trust.

Remember - you are buying a home, and you are buying a mortgage.

Alexis can be reached at [email protected] or by phone at 416-951-9602  Tell her I sent you, and I'm sure you'll thank us later!

Also, click here for a copy of our Free Report - Four Steps to Financial Peace.  Be sure to pass it along to somebody who could benefit from it.

Mortgage Fraud - It CAN Happen To You!

You've probably heard about it...

An unsuspecting homeowner has his/her home taken away without any knowledge of what happened.

It's scary, and it really CAN happen to YOU.

I really detest when the media uses "scare tactics" on the public, however this is something I think you should know about.

The scariest part is that there's not much we can do to protect ourselves.  We are completely open to risk, and here's the bad news (there's more?!):

The current government legislation is lagging behind and currently there's not a leg to stand on for people who have lost their home through mortgage fraud.  Often, they're out on the streets.  Can you believe it?

This must change, and it's not happening fast enough.

The best way to protect yourself is with title insurance, but it's still not good enough.  Keep your eyes open and your fingers crossed until the lawmakers wake up and do something about this.

Here are some articles and multimedia about mortgage fraud.  There are video links on the right hand side of the W-Five article:

Click here for the CTV/W-Five article.

Click here for the Maclean's article.

Click here for an article by CBC.

Also, learn some ways to protect yourself here.

An unsuspecting homeowner has his/her home taken away without any knowledge of what happened.

It's scary, and it really CAN happen to YOU.

I really detest when the media uses "scare tactics" on the public, however this is something I think you should know about.

The scariest part is that there's not much we can do to protect ourselves.  We are completely open to risk, and here's the bad news (there's more?!):

The current government legislation is lagging behind and currently there's not a leg to stand on for people who have lost their home through mortgage fraud.  Often, they're out on the streets.  Can you believe it?

This must change, and it's not happening fast enough.

The best way to protect yourself is with title insurance, but it's still not good enough.  Keep your eyes open and your fingers crossed until the lawmakers wake up and do something about this.

Here are some articles and multimedia about mortgage fraud.  There are video links on the right hand side of the W-Five article:

Click here for the CTV/W-Five article.

Click here for the Maclean's article.

Click here for an article by CBC.

Also, learn some ways to protect yourself here.

Top 10 Signs That It's Time To Sell Your Home

1. When you bought your house, you lived in the country. Now you're surrounded by high rises.
2. You can't get any appliances repaired because "they stopped making those parts years ago."
3. The swing set in the backyard has sprouted roots.
4. The plumber's phone number is on your speed dial.
5. Your phone number is on your plumber's speed dial.
6. All the children's rooms are now guest bedrooms.
7. You haven't visited the other half of the house in six months.
8. You have to move the furniture to see the carpet's original colour.
9. Your bathroom is a lovely shade of avocado green -- from the first time it was in style.
10. You can't make any improvements to the exterior of your home without getting approval from the Board of Historic Monuments.

Is it time to sell your home?  Give me a call and see if our service is the right fit for you!

1. When you bought your house, you lived in the country. Now you're surrounded by high rises.
2. You can't get any appliances repaired because "they stopped making those parts years ago."
3. The swing set in the backyard has sprouted roots.
4. The plumber's phone number is on your speed dial.
5. Your phone number is on your plumber's speed dial.
6. All the children's rooms are now guest bedrooms.
7. You haven't visited the other half of the house in six months.
8. You have to move the furniture to see the carpet's original colour.
9. Your bathroom is a lovely shade of avocado green -- from the first time it was in style.
10. You can't make any improvements to the exterior of your home without getting approval from the Board of Historic Monuments.

Is it time to sell your home?  Give me a call and see if our service is the right fit for you!

Save Thousands of Dollars In Interest and Pay Your Mortgage Off Years Sooner!

Most people think when you get a mortgage you're stuck with it for 25 or 30 years, but what they don't realize is by using a couple of easy and painless ways to make some extra principle payments, you can cut years off the life of your mortgage and save thousands of dollars in needless interest costs.

Here are a few easy strategies you can use:

1. Round Up To The Nearest Hundred
This is an easy strategy to take advantage of, and the results are dramatic!  Let's say you have a mortgage of $100,000 over 30 years at 8% interest.  The monthly payments would be about $734 dollars a month.

Now, lets see what would happen if you rounded that payment to the next $100 by increasing your payment by $66 extra each month. By paying $800 a month you will shorten the length of your mortgage by 7 1/2 years. Just this one simple strategy will save you over $48,000 in interest payments over the life of your mortgage!

2. Use Your Income Tax Refund To Make One Time Pre-Payments
Let's say you have the same $100,000 mortgage, and you have a $1000 tax refund this year. (Very possible with RRSP's these days).

If you take that $1000 and apply it to your mortgage...you'll save over $8600 and shorten your mortgage by 1 year and 1 month! Not bad for a simple one-time pre-payment...

3. Start Out With a 15 Year Mortgage
One of the best things you can do -- if you can afford it -- is to start out with a 15-year mortgage instead of 25 or 30. It's actually not that much more expensive, and the interest you save is incredible.

With the same $100,000 mortgage at 8% over 15 years, your payment would be about $200 more ($955) and you would be paying $72,017 in interest over the life of your mortgage instead of $164,160!

By rounding up, using your tax refund, and taking a shorter mortgage, you can save thousands and be free of your mortgage years sooner!

Knowing is half the battle...

Most people think when you get a mortgage you're stuck with it for 25 or 30 years, but what they don't realize is by using a couple of easy and painless ways to make some extra principle payments, you can cut years off the life of your mortgage and save thousands of dollars in needless interest costs.

Here are a few easy strategies you can use:

1. Round Up To The Nearest Hundred
This is an easy strategy to take advantage of, and the results are dramatic!  Let's say you have a mortgage of $100,000 over 30 years at 8% interest.  The monthly payments would be about $734 dollars a month.

Now, lets see what would happen if you rounded that payment to the next $100 by increasing your payment by $66 extra each month. By paying $800 a month you will shorten the length of your mortgage by 7 1/2 years. Just this one simple strategy will save you over $48,000 in interest payments over the life of your mortgage!

2. Use Your Income Tax Refund To Make One Time Pre-Payments
Let's say you have the same $100,000 mortgage, and you have a $1000 tax refund this year. (Very possible with RRSP's these days).

If you take that $1000 and apply it to your mortgage...you'll save over $8600 and shorten your mortgage by 1 year and 1 month! Not bad for a simple one-time pre-payment...

3. Start Out With a 15 Year Mortgage
One of the best things you can do -- if you can afford it -- is to start out with a 15-year mortgage instead of 25 or 30. It's actually not that much more expensive, and the interest you save is incredible.

With the same $100,000 mortgage at 8% over 15 years, your payment would be about $200 more ($955) and you would be paying $72,017 in interest over the life of your mortgage instead of $164,160!

By rounding up, using your tax refund, and taking a shorter mortgage, you can save thousands and be free of your mortgage years sooner!

Knowing is half the battle...