Homeowners hear so much about how renovating their homes will increase its value. This is certainly true to a point, but I have seen more times than I would like to say that people lose money after they renovate – especially if they’re renovating to sell. It is common knowledge that kitchens and bathrooms sell,… Continue reading Tips for Renovation Spending
Privacy beats the bank
Last year, the Ontario Court of Appeal released a decision in Citi Cards Canada Inc. v. Pleasance. In this case, Citi Financial wanted to collect on a credit card debt of $11,000.00 through a forced sale of the debtor’s home. In order to do so, however, it needed confidential information from the debtor’s mortgage lenders.… Continue reading Privacy beats the bank
Interest Adjustment – Getting Up to the Starting Line
Article courtesy of MCAP. The best way to understand the concept of interest adjustment is to start with knowing and understanding the term “Interest Adjustment Date” or IAD. Every fixed rate mortgage has an IAD and the name implies that this is the date upon which an interest adjustment will take place but that’s… Continue reading Interest Adjustment – Getting Up to the Starting Line
Marijuana Grow Houses
When you’re buying a house, there’s always the possibility that you’ll find an old grow house on your search. Unfortunately, the signs can be very hard to spot. Before a grow house goes on the market, it should be extensively renovated to correct the problems, but sometimes the only corrections are cosmetic. Here are some… Continue reading Marijuana Grow Houses
Capital gains tax and the principal residence exemption
Your home is likely the largest investment you will ever make. However, while most investments carry a large tax burden when you sell them for a profit, your home benefits from federal rules to encourage home ownership. As long as the property is your principal residence, you can claim an exemption on capital gains tax… Continue reading Capital gains tax and the principal residence exemption