Homeowners in Canada do not get to enjoy the same mortgage interest deduction as their southern neighbors. However, Canadians do resort to the technique of the Smith Maneuver to convert a regular debt into a tax deductible one. It is a financial method that can restructure the biggest non-deductible debt of an individual to a…
Purchasing a home for the first time is exciting and can even be stressful at times. There are several issues that need to be taken into account and often first time buyers fall prey to “newbie errors”, especially when it comes to mortgage and financing issues. If you are purchasing a property for the first…
At the time of the last recession, the U.S. economy collapsed owing to a problem with mortgage foreclosures. Borrowers throughout the nation faced difficulties while paying their mortgages. Also, around 8 out of 10 borrowers were found to be engaged in trying to get their mortgages refinanced. One couldn’t help but notice that even high…
People applying for Newfoundland mortgages are asked to verify their employment details, prove their income, and offer permission to get their tax return reviewed. However, often it’s seen that lenders ask questions that appear to be out of the context to borrowers. Things like accounting for every dollar in your account may seem like stretching…
Even though the housing market has recovered to a large extent from the economic slump, some people believe that paying a commission to a property agent or a mortgage broker is the last thing that they would do in a down market. However, going about the sale business can be quite an arduous task in…