Over the past few months, I have had the privilege and honour to help hundreds of people discover a mortgage solution that meets their needs. Some clients came to me because they were prospective first-time homeowners. Others came to me because they were in the process of downsizing their home. Others needed to reorganize and…
DetailsEvidence is mounting that the federal government’s increasingly restrictive mortgage rules have cooled housing markets to the point where too many potential responsible homeowners are being turned away, warns North East Mortgages president Terry Kilakos. “They went a little nuts,” Kilakos said. “There was a time when you used to be able to get a…
DetailsMortgage Payment Deferrals *Taken directly from the website of each financial institution ____________________________________________________________________________ First National Apply here: https://mymortgage.firstnational.ca/Account/PaymentDeferral?languagecode=en-ca Keeping you informed: COVID-19 Updated March 27, 2020 The health and safety of our employees and customers is of the utmost importance. As the situation around COVID-19 continues to evolve, we want to let you know…
DetailsIs the Mortgage market collapsing in Canada? This is the question on everyone’s mind this week. If you have been following our blogs you will know that in Early October of 2016 I ran a blog called The Day After . In that blog post, I looked at the major implications that would be caused by…
DetailsRead analysis from North East Mortgages president Terry Kilakos on mortgage rule changes that went into effect in October 2018 (OSFI dropped the hammer on the mortgage market), as well as commentary from December 2018 (Treat Canadians like the responsible homeowners they are). Residential mortgage growth has dipped to a 17-year low the Bank of…
DetailsMortgage fraud is something that can land you in a heap of trouble, both legal and financial. Getting hooked in by a mortgage specialist or broker that’s up to no good can have consequences for you and for them. On a recent episode of CJAD’s The Real Estate Show, North East Mortgages President Terry Kilakos…
DetailsAs its municipal government raised property tax rates in their latest budget, the City of Montreal is set to receive a larger than expected windfall of property revenue in the coming years. How? Property value assessments. Later this year, homeowners across the island will receive a new property value assessment that will be the baseline…
DetailsMontreal has had enough of tax hikes! This is the message that protesters brought to Point-Claire City Hall on Sunday afternoon. Mayor Valerie Plante can dress up the hikes as she wants but the Mille rate is about to change and it will have an impact greater than what you might think. Some of the largest…
DetailsThe team at North East Mortgages would like to wish our friends the best for the holiday season! A new year brings promise but many Montreal real estate professionals agree: 2019 should not bring a foreign buyers tax for the city of Montreal. For one, this wouldn’t be enough to prevent foreign buyers from taking…
DetailsThis past weekend I was reorganizing my chaotic office and came across an old issue of Mike Holmes’ magazine. In it, there was an interesting article about first-time buyers called “The first time home buyer’s guide” published in the May 2011 edition. In the article, Nathalie Rodriquez outlines a step-by-step process to buying your first…
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