by Allen Ehlert | April 23, 2025 | Personal Finance
A debt settlement is not the same as a consumer proposal, although they share similarities. Both methods involve negotiating a reduction in debt with creditors, but they differ significantly in structure, legal protections, and outcomes. Here is a clear, professional...
by Allen Ehlert | April 21, 2025 | Mortgages, Personal Finance, Real Estate
Emily and Jason, a married couple in Vancouver, BC, decided to divorce after 12 years of marriage. They jointly owned a $1.2 million home, with a remaining first mortgage of $500,000. As part of their divorce settlement, Emily wanted to buy out Jason’s share of the...
by Allen Ehlert | April 18, 2025 | Mortgages, Personal Finance
In Canada, there are about 10 different kinds of lenders, offering prime, alternative, and subprime mortgages that are insured, uninsured, and insurable while also being conventional or collateral. There are literally thousands of different mortgage products on the...
by Allen Ehlert | April 17, 2025 | Mortgages, Personal Finance
Michael and Vanessa, homeowners in Calgary, Alberta, own a detached home worth $850,000. They have a first mortgage of $500,000 with a major bank at a low fixed interest rate of 3.2%. Recently, they faced unexpected financial challenges, including: $60,000 in home...
by Allen Ehlert | April 16, 2025 | Mortgages, Personal Finance
Making the most of prepayment privileges in a fixed-rate mortgage can help you reduce your principal balance faster, save on interest, and potentially shorten the term of your mortgage. Here are strategies to effectively utilize these privileges: Understand Your...
by Allen Ehlert | April 16, 2025 | Mortgages, Personal Finance
In Canada, there are about 10 different kinds of lenders, offering prime, alternative, and subprime mortgages that are insured, uninsured, and insurable while also being conventional or collateral. There are literally thousands of different mortgage products on the...
by Allen Ehlert | April 16, 2025 | Mortgages, Personal Finance, Real Estate
As a mortgage agent, I’ve had countless heart-to-heart conversations with homebuyers, especially first-time buyers, who’ve walked away from a bidding war feeling discouraged, defeated, and more than a little frustrated. They saw a home listed within their budget, got...
by Allen Ehlert | April 15, 2025 | Mortgages, Personal Finance, Real Estate
David and Michelle, a married couple in Mississauga, Ontario, have been homeowners for 12 years. Due to unexpected job loss and medical expenses, they missed five consecutive mortgage payments on their home, worth $850,000. Their lender issued a Notice of Sale,...
by Allen Ehlert | April 15, 2025 | Personal Finance
A consumer proposal is a formal, legally binding debt-relief solution in Canada that allows individuals struggling with unmanageable debt to negotiate an affordable repayment plan directly with their creditors. Governed by Canada’s Bankruptcy and Insolvency Act (BIA)...
by Allen Ehlert | April 14, 2025 | Mortgages, Personal Finance
Adopting effective strategies for a fixed rate mortgage can help you maximize the benefits of the stability and predictability a fixed mortgage offers. Let me give you 10 fixed mortgage strategies for you to consider: Choose the Right Term Make the Most of Prepayment...
by Allen Ehlert | April 12, 2025 | Mortgages, Personal Finance
Unveiling the Truth Behind Credit Card Rewards In this article, I discuss the world of credit card rewards, exposing the hidden truths and examining the impact on consumers and companies: Credit Card Rewards: Profitable and Addictive Impact on Low-Income Households...
by Allen Ehlert | April 11, 2025 | Personal Finance
In Canada, a Net Worth Statement is a financial document that outlines an individual’s or household’s overall financial position at a specific point in time. It is commonly used in mortgage applications, wealth management, and financial planning to assess...
by Allen Ehlert | April 10, 2025 | Mortgages, Personal Finance, Real Estate
A recent demographia report sheds light on the severe unaffordability of over 20 Canadian housing markets. Let’s delve deeper into the factors contributing to this crisis and its impact. The Severe Unaffordability The demographia report, produced by the Frontier...
by Allen Ehlert | April 9, 2025 | Mortgages, Personal Finance
I often hear the same question from clients: “What really happens if I go over my credit limit?” The truth is, going over your credit limit can feel like a small mistake in the moment—but it can have lasting effects on your financial health, especially...
by Allen Ehlert | April 9, 2025 | Mortgage Terms, Mortgages, Personal Finance
Did you know that in 2023, the Canadian Anti-Fraud Centre processed over 63,000 reports of fraud, with total losses amounting to $569 million? This staggering statistic highlights the growing issue of fraud in Canada, particularly in the real estate sector. Mortgage...
