Shelly Poulin

The report showed the national mortgage delinquency rate hit 0.17 per cent in the fourth quarter of last year, still near historic lows, but trending up for the first time since the beginning of the pandemic.

If I am unable to fork out the second payment for my new launch condo, will my first downpayment be forfeited by the developer? What happens to the unit? Are there other penalty fees? === Hi there, - If you're unable to make the second payment for your new launch condo, it’s possible that your initial downpayment could be forfeited. - Typically, developers may retain 20-25% of the purchase price as a penalty if you default after signing the Sale and Purchase Agreement (S&P). - The unit would then be put back on the market by the developer. - There may be additional legal fees or interest charges if the default drags on, so it’s important to review the terms of your contract. - If you're facing financial difficulties, it’s best to communicate with the developer early to explore any possible arrangements. Thank you. Family realtor solved 1000+ property problems,   - Mani Subramanian Veeramani   Social Media Tags: /AskRealtorMani @AskRealtorMani #AskRealtorMani   Get 3 proposals, 2 action plans, and a property valuation report now   https://wa.me/6583004411   Connect with the Top 1% Real Estate Voice LinkedIn Singapore   https://lnkd.in/gKtJZj8k   PS: Here is the list of Below Market Value Properties & Download my 10 eBooks.   https://lnkd.in/gPQGtapW 

Canada Mortgage and Housing Corp. says the country’s total residential mortgage debt totalled $2.16 trillion as of February this year, up 3.4% year-over-year and representing the slowest growth in 23 years. The federal housing agency said in a new report that higher mortgage costs and uncertainty around the Bank of Canada lowering its key interest rate led to softer home sales and prices across many regions in the second half of 2023.

Exciting shifts are happening in Canada's credit landscape as the government champions renters' rights. 🏡 With rent payments poised to become a factor in credit scores, a fairer path to homeownership emerges, lauded by industry leaders like Equifax Canada. For renters eyeing future homeownership, this development brings significant benefits. 🌟 By having their monthly rent payments reported to credit bureaus alongside other forms of credit, such as loans and credit card payments, renters can build a positive credit history and boost their credit scores over time. The beauty of this change lies in its potential to open doors to homeownership for renters. 🚪💼 As renters consistently make timely rent payments, their credit scores stand to improve, making them more attractive to lenders when the time comes to secure a mortgage. While this program is still in the works and awaiting implementation, the prospect of it becoming a reality offers hope and promise for renters nationwide. 🌟 Let's stay tuned for updates and continue championing fair and equitable pathways to homeownership for all! 🇨🇦💼 Cody Rowe 📲 (778) 350-ROWE (7693) 📧 [email protected] Dominion Lending Centres | Modern Mortgage Group

Ok, today we are going to talk about how to finance a new home build... If you’re looking for a home that offers the latest energy efficiencies, low maintenance costs, and every amenity and convenience your family desires, maybe you should consider building new. Just keep in mind that financing new construction is a little more complicated. Here’s what you need to know... https://lnkd.in/gH88TCUV https://lnkd.in/gH88TCUV