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House Prices Falling?

Recently a number of people have wished to discuss how GTA house prices are “falling”. The consistent narrative is this – “they put up taxes on foreign buyers, made it harder to borrow”. One fellow told me that houses in his neighbourhood in Mississauga went from “$950,000 to $750,000 in […]

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Testimonials – Many Thanks

Now that summer has passed, and we are all back to work – I thought I should update my ugly website into something a little more modern. So I have been asking some clients from the past 6 months if they would provide a testimonial that I could insert into […]

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As An Investment – Mortgages or Stocks?

Much of what I do relates to private lending – rather than setting up mortgages for banks. So I suppose it is only natural that many people I speak with ask me about lending money with private mortgages. “How much money do you make on a private mortgage?” “Is it […]

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Without Judgement

When I am speaking on the phone, clients always seem to assume that their situation is the “worst I have ever seen”. This is no doubt because they have no idea how crazy some of these deals can get (I am not called “Mortgage-Impossible” for nothing …). When you call, […]

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Credit Beacon Vs “Good” Credit

On a deal I am working on, one of the borrowers stated that they have “Good Credit”, as their credit beacon is over 700. I thought it would make a good blog post. Most “A” and “Alt-A” lenders have minimum credit beacon scores to obtain financing on various of their […]

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Government Policy Increases House Prices?

In my previous post, I suggested that Government Policy may be playing a role in rising GTA house prices. The constant Municipal push for “infill” causes many detached homes to be bulldozed in favour of ever-increasing density. While this increases supply of townhouses and condos, it makes the detached houses […]

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Does Government Policy Increase House Prices?

There has been a lot of news lately (and not-so-lately) about ever-rising house prices – particularly in the GTA. Hardly a day passes without a news story about how “crazy” prices have become. I sometimes put mortgages on the same house year after year – and in one illustrative case, […]

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Ask Existing Lender First

Not everyone who contacts me immediately moves to refinance their home. Some ask me some questions, and for whatever reason I do not hear from them for awhile. Some return a few weeks, months, even years later – and we proceed at that time. Recently I had a borrower contact […]

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“Can Renters Borrow?”

I received an email recently, responding to one of my ads. I will not mention the contact information of the person who contacted me, nor precisely quote their question. But the website inquiry went something like this: “Message: Hi Gerry, I saw your ad near my work and went on […]

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