User Tag List

Results 1 to 11 of 11
Like Tree11Likes
  • 1 Post By adamclair
  • 1 Post By MortgageQueen
  • 1 Post By robartluis
  • 1 Post By bobbyreyes
  • 3 Post By Colsgirl
  • 2 Post By MortgageQueen
  • 1 Post By Colsgirl
  • 1 Post By MortgageQueen

Thread: Mortgage renewal

  1. #1
    CaNewbie
    Join Date
    May 2015
    Posts
    1
    Likes Received
    1
    Trading Score
    0 (0%)


    0
    Hi! Its something about renewal of mortgage. I've already taken a mortgage for home from a private company Northwood mortgage( Toronto ). Happy with their service. I've got plans to renovate my house. Also thinking of renewing my mortgage. I would like to increase the amortization period. Any advice while considering a mortgage renewal?
    This thread is currently associated with: N/A
    ROMEO likes this.


  2. #2
    Luv Saving People Money MortgageQueen's Avatar
    Join Date
    Mar 2010
    Posts
    3,404
    Likes Received
    6224
    Trading Score
    0 (0%)




    You are best to contact your broker at Northwood if you are happy with them.
    If you have a private mortgage, I'm guessing you had some credit issues. . . .which hopefully Northwood is helping you to resolve.
    ROMEO likes this.

  3. #3
    CaNewbie
    Join Date
    May 2015
    Posts
    2
    Likes Received
    1
    Trading Score
    0 (0%)


    Hey Hi, Northwood mortgage is also good company. But my suggestion is compare Northwood mortgage service and mortgage rate with other company. like Canadalend.com is also one of the trusted source for mortgage renewal.
    ROMEO likes this.

  4. #4
    CaNewbie
    Join Date
    Sep 2014
    Location
    Toronto
    Posts
    30
    Likes Received
    14
    Trading Score
    0 (0%)



    Refinancing can help you in many situation. It helps to build your financial circumstances, can help to save your money in divorce and many more. Any one going for mortgage renewal or refinancing can get some useful information from this article. http://www.canadalend.com/blog/this-...circumstances/
    ROMEO likes this.

  5. #5
    Smart Canuck
    Join Date
    Jul 2008
    Posts
    3,374
    Likes Received
    1621
    Trading Score
    8 (100%)




    Do you work for Canadalend? It seems like every reply you give you are pushing this company.
    For every friend who opens a Tangerine Account with a $100 deposit using ORANGE KEY:44683723S1 www.tangerine.ca we both get $50!
    Get Swagbucks for doing surveys, searching etc ... redeem points for GCs. If you join, please use my referral link http://www.swagbucks.com/refer/colsgirl.

  6. #6
    Luv Saving People Money MortgageQueen's Avatar
    Join Date
    Mar 2010
    Posts
    3,404
    Likes Received
    6224
    Trading Score
    0 (0%)




    Quote Originally Posted by Colsgirl View Post
    Do you work for Canadalend? It seems like every reply you give you are pushing this company.
    Yes, this seems quite obvious and is getting very close to just being spam posts.

    Anytime you use refinancing to pay debt or get out of a financial situation is very serious and should be accompanied by solid advice from a "reputable" advisor. We all have to make a living but a reputable advisor will put client interests ahead of their own.
    Frankly, I find this rewards itself eventually anyways. People are so sick of being taken advantage of by the greed of others. . .
    Colsgirl and angel_2011 like this.

  7. #7
    Smart Canuck
    Join Date
    Jul 2008
    Posts
    3,374
    Likes Received
    1621
    Trading Score
    8 (100%)




    Quote Originally Posted by MortgageQueen View Post
    Yes, this seems quite obvious and is getting very close to just being spam posts.

    Anytime you use refinancing to pay debt or get out of a financial situation is very serious and should be accompanied by solid advice from a "reputable" advisor. We all have to make a living but a reputable advisor will put client interests ahead of their own.
    Frankly, I find this rewards itself eventually anyways. People are so sick of being taken advantage of by the greed of others. . .
    Exactly - I deleted what I was thinking of putting after my original post because it wasn't polite

    Refinancing is often bad news because the person who refinances often cannot afford to and they end up paying interest on interest.
    MortgageQueen likes this.
    For every friend who opens a Tangerine Account with a $100 deposit using ORANGE KEY:44683723S1 www.tangerine.ca we both get $50!
    Get Swagbucks for doing surveys, searching etc ... redeem points for GCs. If you join, please use my referral link http://www.swagbucks.com/refer/colsgirl.

  8. #8
    Luv Saving People Money MortgageQueen's Avatar
    Join Date
    Mar 2010
    Posts
    3,404
    Likes Received
    6224
    Trading Score
    0 (0%)




    Quote Originally Posted by Colsgirl View Post
    Exactly - I deleted what I was thinking of putting after my original post because it wasn't polite

    Refinancing is often bad news because the person who refinances often cannot afford to and they end up paying interest on interest.
    That's not to say refinancing isn't a good idea when you're stuck paying huge credit card rates, but there needs to be a plan to "not" go back to the same place again. Too many people use their house as an ATM.
    Colsgirl likes this.

  9. #9
    Smart Canuck
    Join Date
    Jul 2008
    Posts
    3,374
    Likes Received
    1621
    Trading Score
    8 (100%)




    Quote Originally Posted by MortgageQueen View Post
    That's not to say refinancing isn't a good idea when you're stuck paying huge credit card rates, but there needs to be a plan to "not" go back to the same place again. Too many people use their house as an ATM.
    That only works when someone is disciplined enough to either not use the cards again or cut them up. In the last 30 years I have lost track of the number of people who have refinanced to clear credit card debt, only to rack it up again and have them maxed out - but with a higher mortgage because they have already refinanced.
    For every friend who opens a Tangerine Account with a $100 deposit using ORANGE KEY:44683723S1 www.tangerine.ca we both get $50!
    Get Swagbucks for doing surveys, searching etc ... redeem points for GCs. If you join, please use my referral link http://www.swagbucks.com/refer/colsgirl.

  10. #10
    Luv Saving People Money MortgageQueen's Avatar
    Join Date
    Mar 2010
    Posts
    3,404
    Likes Received
    6224
    Trading Score
    0 (0%)




    It's also a good idea for these people to have automatic debits to accounts for specific items such as Savings, Emergency, and household maintenance. These accounts should not have a debit card.

  11. #11
    CaNewbie
    Join Date
    Aug 2015
    Posts
    12
    Likes Received
    24
    Trading Score
    0 (0%)



    Looks like the rates will go down a further 0.25 % by the end of the year from Bank Of Canada (BOC), the way things ( recession ) are going.

    Unfortunately the commercial banks due to the bond rates sometimes don't pass the full savings to the customer. So if the BOC reduces it by 0.25 %, the commericla banks only reduces their MTG rates by 0.10 %.

    Variable rates might be a good thing for atleast the next couple of yrs, don't see the rates going up due to recession & oil prices any time soon.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •