Credo of an Island Woman
For those of you who have read my article Coming Out About Cars, please join me in saying a sad goodbye to Betsy. In January, I was hit from behind and dear Betsy suffered mortal wounds. I got off with whiplash and trauma. I had SUCH writer’s block after the accident. Life got pretty bleak, and I got pretty down. The financial consequences were severe – being on straight commission and dealing with insurance, injury, lawyers and such sucked a lot of energy and was a financial punch in the gut. My husband was away overseas and I had to deal with all these things myself. There were...
Read MoreComing Out About Cars
Since cars and status are a big part of North American society, and especially in North American business culture, this article has taken some time to transform from idea to publication. Why? In my industry (mortgages, leasing, insurance) and related industries (real estate and financial markets), I’ve noticed for years that a ‘nice’ car is often seen as synonymous with success, and I was concerned about how I might be judged by industry people with whom I work to source and service clients. Also, I was concerned that potential clients would learn that I drive a “non status symbol”...
Read MoreSeparation, Divorce, and your Mortgage
It happens more than you might think. I get a call from a woman (rarely men it seems) who is preparing to leave her spouse. Sometimes he doesn’t know yet. She wants to buy her new home in advance, without him on title or on the mortgage. Even more challenging, the separation isn’t final and all her net worth is tied up in their house. Sometimes she doesn’t income-qualify on her own, so she doesn’t think she can buy him out. Most “A” type lenders are going to ask for a copy of a separation agreement. Why? For starters, they need to know that the person...
Read MoreAre Canadians complacent about mortgage rates?
In my opinion, yes. When I tell people there are opportunities to lock in for 10 years at 3.99% to avoid sticker shock at renewal time, or suggest that they could get a free down payment mortgage for 5.24%, or get 3% of their purchase price back with a cash-back mortgage at 4.09% to tame their debts, I am frequently hearing “That’s a lot! I want a 5 year at 3%”. Let’s look at some history: 1. When I was selling real estate back in the 90’s, I had to buy a new amortization schedule book when rates went down below 7%. People were ecstatic! 2. Since 1981,...
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