The Real Estate and Mortgage Show - April 27
Steve, Frank and Paul take listeners' real estate and mortgage questions. This week, topics include bad debt, separation and taxes.
On this week's edition of the Real Estate and Mortgage Show, Steve, Frank and Paul discuss current real estate and mortgage issues and take listeners' questions.
This week, the guys discuss the recent news surrounding CRA clamping down on investors purchasing condominiums with the intention to flip the property. They also talk about the different tax implications when owning a property, and the importance of having it set up properly.
Frank also touches on the tiered mortgages many lenders are currently offering which split the mortgage into normally a one, three and five year term, advertising low rates. Frank advises listeners to be aware of these products, as if they wish to negotiate the interest rate at the one year period, they would be obliged to pay the penalties to break both the three and the five year term of the rest of the mortgage. Additionally, as the three mortgages are tied together, only porting one to another lender is not possible. For more information, talk to an Ottawa Mortgage Broker.