Monthly Archives: February 2016

Month: February 2016 5 Tips Will Save You Money on Your Home Insurance

  As a new homeowner, it may seem like the expenses never stop. First there’s the down payment and closing fees, then your mortgage statements start rolling in—and don’t forget homeowners insurance! While it may seem like another expense, homeowners insurance is pretty important. It offers financial protection if your home or its contents are damaged or destroyed, and it also protects you in the event that you or a family member are held legally responsible for injuries to others or damage to their property. It can even cover damage caused by some household pets, if that’s ever an issue.

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Month: February 2016 When to Pay Off Your Mortgage

  Wouldn’t’ it be nice to be living without any debt or financial liabilities? It would surely give someone a whole lot of peace of mind, particularly those who are nearing their retirement. Experts advise that it is generally best to go ahead and pay off your mortgage loans before retirement, but only after weighing in on things to consider. Here are some of the considerations to help a borrower decide on when to pay off your mortgage:   You have set aside an emergency money. Some call this “peace of mind” fund. It is not recommended to pay off

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Month: February 2016 Province of Ontario’s 9th straight deficit — and that red ink matters

  The last time an Ontario finance minister balanced the budget, George W. Bush was still in the White House and the iPhone wasn’t yet available in Canada. It was the fiscal year 2007-08. Mats Sundin was still captain of the Maple Leafs, people were still renting DVDs from Blockbuster and Justin Bieber was still performing in talent shows in Stratford. This coming Thursday afternoon, when Finance Minister Charles Sousa delivers his budget, he will not break Ontario’s streak of deficits. Sousa says he won’t get to balance the budget until 2017, and that means this week he’ll deliver the ninth straight deficit under successive Liberal governments. This province has been in the red for so long,

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Month: February 2016 Oil glut will last into 2017 at least, IEA says

  The current glut of cheap oil will keep prices low into next year in 2017 at least, forecasters at the International Energy Agency said Monday. This time last year, the Paris-based IEA was forecasting a “relatively swift” bounce back for oil prices that were in the $50 US range, after having fallen by 50 per cent in the previous few months. Instead, the oversupply in crude markets has gotten worse, pushing oil down to levels not seen since 2003, the organization of 29 major oil importing nations noted. IEA chief Fatih Birol blamed “extraordinary volatility” in oil markets that has made

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Month: February 2016 330 Richmond St West, Toronto – New Condo Investment

You are invited to a First Release VIP Condo Event on Saturday February 27th, 2016 for: City Suites By Greenpark.  One Day Only.  Suites starting from $287,900*.  A 5 Star Luxury Condo right in the heart of Downtown Toronto. * Representations and information contained herein do not form part of any Agreement of Purchase and Sale. Hersh Condos Inc. Brokerage, Petaluma Building Corp, do not warrant or represent any or all of the figures and statements above. No placement of mortgage is guaranteed and it is the responsibility of each purchaser to arrange suitable financing. You are advised to verify

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Month: February 2016 Your RRSP – Learn from the pros

  Everybody wants your RRSP money. The problem is that they all have different ideas about where you should put it. The banks want you to invest in their GICs and mutual funds. Brokerage firms push self-directed accounts. Insurance companies tout the benefits of their segregated funds. What to do? Start by understanding that your RRSP is actually a mini-pension plan. In fact, it may be the only pension plan you’ll ever have, apart from the CPP, as fewer employers offer retirement benefits these days. So you’d better take good care of this money. It may be the difference between

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Month: February 2016 Why You Should Buy the Cheapest Home on the Best Block

  I bet you think buying an affordable city home requires a sacrifice: the neighborhood will have a low Walk Score and the highly rated schools will be out of reach. Not necessarily. Some affordable homes are in city neighborhoods near highly rated schools and within walking distance to everyday amenities. But there’s a catch. To find them, you’ll need to search in neighborhoods that have plenty of expensive homes in them, too. Here’s why: neighborhoods with a mix of home prices are three times more likely to be walkable and have highly rated schools than are purely affordable neighborhoods. Even

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Month: February 2016 Harvard Study – Why Owning A Home Makes Sense Financially

  It has been reported many times that the American Dream of homeownership is alive and well. The personal reasons to own differ for each buyer, with many basic similarities. Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership in his paper –The Dream Lives On: the Future of Homeownership in America. Here are the five reasons, each followed by an excerpt from the study:   1.) Housing is typically the one leveraged investment available. “Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend

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Month: February 2016 Canadian Oilsands giant Suncor posted $2B Q4 net loss

  CALGARY — Suncor Energy, Canada’s biggest oilsands player, has posted a net loss of $2 billion for the final three months of 2015 as it was walloped by the steep drop in crude prices. In addition to the oil price collapse, Suncor’s (TSX:SU) bottom line was dragged down by nearly $1.6 billion in impairment charges and a $382 million foreign exchange loss related to its U.S. dollar-denominated debt. A year earlier, it posted a net profit of $84 million. RELATED STORIES Suncor, Canadian Oil Sands agree to $6.6B deal Notley pushes Trudeau for EI changes Stripped of unusual items,

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