My wife recently applied for a car loan with the credit union we currently deal with (12k). We have 3 rental doors to our credit at this time. She has a full time job and I have been self employed for less than a year, I still had to sign the application to help with the debt servicing ratio's...

I am looking for some suggestions for reading material, I have most of the REIN books + Julie Broad's book and yes Thomas, I even have yours (good read btw). I really enjoyed the 51 success stories, they were motivating and inspiring but lacked the detail I am looking for. So that's what I want...

Thank you for acknowledging that this does actually happen, as it turns out, I would never have received the rate in the window (2.34% for 3 yrs) as this is pretty much reserved for those that don't have the 20% down payment, mostly 1st time buyers. I did wind up with a rate well under 3% so I...

Yes, that is what I meant.

Actually, TD bank only does collateral charge mortgages and the other big banks may soon follow suit which I am sure you already know. If you apply to a credit union and want a variable rate mortgage, it is automatically a collateral charge mortgage, a fixed rate can be either or. I only know...

Over the past few weeks, while re-financing a rental property, the term "collateral charge mortgage" has come into play. It seems that these are becoming quite common. I can see the advantage of having one but I personally don't like the thought of having to pay extra ( for whatever reason) to...

Just foe the sake of argument, I saw my broker today and I called her out on who is responsible for taking purchases as a priority and bumping everyone else, the lender or the broker, she said both are, so your words may be true where you live but clearly not in my neck of the woods. Just sayin.

Just so you know, the broker did not submit it immediately because any time a new purchase comes in the door, they take priority and renewals get bumped back, so i am told. Is this generally how it works in the mortgage broker world?

I'm just gonna throw this out there. We are currently renewing a mortgage that comes due on dec 15th. The paperwork has already been with our broker for over a month. We have chosen a new broker based on an ad in their window (2.34% for 3 yrs fixed). You must qualify at the gov't rate to get...

Excellent advice, thanks to all for your input. This should convince the wife that it is in fact a good idea.

A legal suite of ours has just become available. I am insisting that the next tenants provide their own insurance for their own belongings and that this be a part of the lease agreement. My wife thinks otherwise. This has been a bone of contention for a couple of years now. As a landlord, what...

I like your response, I believe a phone call is in order. Thanks for your input.

The time has come for an appraisal on our home, complete with a 2 bdrm legal suite. We wish to re-finance and hopefully move on to the next one, we have no intention of selling. I called around to my mortgage broker, our lender and a couple of agents for a recommendation. The same name kept...

Excellent advice from all who responded, truly appreciated. As a beginner, its tough enough trying to cross all the T's and dot all the I's without the feeling of being pressured by a tenant that I know nothing about. As it turns out, he took a (friends) basement suite for less money including...