February 2010 Newsletter
February 2010 Newsletter
The Olympics have taken off & it seems that all of
Professionals & Trades In all my years as a realtor, two questions I usually get asked the most are:
1) Do you know of any good deals?
2) Do you know of any good professionals or trades for their real estate needs?
Here is my list of professionals & trades that I personally use & refer. I have also included as an attachment a very important issue which I think most people tend to neglect. That is Mortgage & Life Insurance which is very important when it comes to insuring that our loved ones are not burdened with any of our real estate investments. I would suggest a simple complimentary phone call or e-mail to Bonita Boutilier for your best solution. I have spoken to Bonita about my situation & for a small monthly fee which is almost the same amount of insurance I pay for my dog Siu Mai; I will be protecting my wife & future family. For a list of the professionals & trades, please contact me for a full list.
MORTGAGE INSURANCE RULES ANNOUNCEMENT
Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010. CAAMP was actively engaged in the discussions around these changes which are as follows:
- All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term;
- The maximum amount one can withdraw in refinancing their mortgage will be reduced to 90% from the current 95% of the value of one's home;
- Non-owner occupied properties will require a minimum down payment of 20%.
There were no changes to down payment requirements or length of amortizations for owner-occupied residences.
For all of your real estate needs,
William Lew
604 862 1966 (direct)
william@westsideliving.com or williamlew666 (skype)
Dexter Associates Realty
Do you know someone looking to buy or sell in the near future? Please pass along my contact information.
Your referrals are greatly appreciated.
Mortgage & Life Insurance Article
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Be Protected Financial |
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What you need to know about Mortgage Insurance. |
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January 2010 |
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Bonita Boutilier, Insurance Advisor explains the real facts that can save you money and protect one of your most important assets...your home. |
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Creditor Mortgage Insurance VS Individual Life Insurance |
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Is the Mortgage Insurance NO YES |
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Portable? If you change lenders you have to It follows you. reapply. If health has changed NO protection. |
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Do I Choose the Beneficiary? NO YES |
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The bank is the beneficiary. Pays off You name the beneficiary, they receive |
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your mortgage. the full benefit amount and they decide what to do with the proceeds. |
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Is the Underwriting Done at NO YES |
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the Time of the Application? At time of death... Medical history and testing is done prior to issue of the policy. |
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Do I Pay Cheaper Rates If I NO YES |
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am a Non Smoker or Female? One size fits all Based on individual medical condition. Females and non smokers receive lower rates. |
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Can I Continue the Coverage NO YES |
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If My Mortgage is Paid Off? Once mortgage is paid, no coverage. You can keep it, covert it or cancel it...you have the choice. |
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Which protection would you rather have? |
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Complimentary Quotes: CHECK THIS OUT A MUST SEE! |
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Bonita Boutilier |
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CBC Marketplace does an |
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Insurance Advisor |
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investigation on two families who bought the coverage and thought they were protected, only to have their claims |
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Office: 604-684-7400 denied. Cell: 604-730-7917 Email: bonita@beprotected.ca http://www.cbc.ca/mrl3/8752/ |
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marketplace/in_denial.wmv |