Looking for the right home can be a daunting process for first-time buyers and seasoned vets alike. From the style of the house to the type of appliances, countless factors can go into such a big purchase. The following short checklist outlines the most important things you should think about when you're on the hunt for a new home.

1. Define your budget:

It's never fun to fall in love with a house that you can't afford. Avoid heartbreaks by taking the time to analyze your financial situation before you begin the search. Start by reviewing your credit score, monitoring your debt, and choosing an appropriate down payment. Meeting with a financial professional can help you get an accurate picture of your financial situation and the loans you are eligible for.

Looking at your debt-to-income ratio is one of the ways that creditors establish how qualified you are for a mortgage loan. Your debt-to-income ratio is determined by taking your monthly debt (think current mortgage payments, student loans, car loans, etc.) and divide them by your gross monthly income. Ideally, you want to keep that ratio at 43% or lower. According to the Federal Consumer Finance Protection Bureau, "studies of mortgage loans suggest that borrowers with a higher debt-to-income ratio are more likely to run into trouble making monthly payments. The 43 percent debt-to-income ratio is important because, in most cases, that is the highest ratio a borrower can have and still get a Qualified Mortgage."

Don't skip the down-payment analysis! A huge factor in getting the best mortgage rate relies on how much cash you can put down initially. The rule of thumb has been to put 20% down as a minimum. Anything below the 20% rule will usually require mortgage insurance and end up costing you more on the loan long term. Determining the right path for you will require you to analyze your situation—your budget, timeframe and any other factors involved in figuring out your financial capacity to save and put money away for your new home.

2. Your Must-Have List:

Always search for homes that meet your "must-have" list. A must-have list encourages you to write out exactly what you need in a new home and will significantly aid in narrowing down the scope of your search, especially when searching with another person. This list will also foster communication on critical aspects of your new home that might not have been discussed previously, and help you identify requirements that may conflict with each other.

Focus your list on the high-level, pricey aspects of a home. Minor changes such as painting and smaller renovation projects can be worked on down the road, but changes that add up in time and money should be avoided (think kitchen remodels or adding another bathroom). Narrowing down your search to homes that don't require major changes will help ensure you choose a home that is within your budget.

If you are struggling with where to start, think about what type of home you want to live in–Single Family or Townhome/Condo? How many bathrooms and bedrooms do you need? Do you want a fireplace or pool? What's the minimum lot size you would be comfortable with and do you require a garage? What about air conditioning?

Keep your list short and precise–try to keep your must-haves on the shorter side by focusing on major requirements and rank them according to importance. Prioritizing your list will help when it comes to decision-making time, as selecting a home will often require some flexibility. Your list will provide you with an easy way to determine which aspects you can compromise on and which are red flags telling you to let go and move on.

Compromising can be hard, but don't let small things completely take a home off of your shortlist. Keep in mind that minor changes can be worked on, however, if there are a lot of things to be renovated and changed, the costs of the projects can add up. Focus on the minor modifications that you feel comfortable changing.

3. Location, Location, Location!

While the importance of location is often a no-brainer, the location of your potential new home serves multiple purposes. Location will impact your daily life and happiness as well as your home's value down the road.

When looking at location in terms of resale value, you want to look at a multitude of things: school districts, crime stats, and the neighborhood & community. A little research can answer most of these questions, and this website offers Market Insider, a tool to give you details on all these factors and more! Besides looking at the current stats and trends, take this information and think about what the value of the area might be after 5 or 10 years when you potentially could resell your home.

Along with the resale value, analyze the location of a home from the perspective of your wellbeing and happiness. Things such as your daily commute, surrounding noise, and community will greatly shape your experience in the home.

Along with this checklist, seeking guidance from a professional is always a good idea! A realtor like me can offer a wide array of skills and expertise, from the showing of a home to the endless paperwork. You can count on me to guide you through the process and assist in your home-buying decisions.

Finding the right home might not necessarily mean finding the "perfect" home, but rather, finding the right home for you to make your own. Hopefully, this checklist provides you with a guide to start your journey towards the right home. When you're ready to start looking, don't hesitate to give me a call!

Updating your home to be chicer - without looking cheap - is completely doable on a budget.

Are you always planning to upgrade your room but you don't have the time and you're on a tight budget? DIY projects are on the rescue! They can give your house that extra sense of style without spending too much money. No need to cringe at those three little words: "do it yourself." They’re fast, easy, and affordable projects you can do on your own. Here are five relatively easy ways to enhance your home.

1. Replace Your Light Fixtures

Switching out an old boring light fixture for a more sleek and elegant one is an easy way to shift the ambiance of a room. By adding a sophisticated light fixture, you can control the mood of your room and add character.  Don’t worry, you don't need to pay a pretty penny for expensive new fixtures - you can buy them online or go to thrift shops and scavenge those shabby lights fixtures.

2. Add Floating Shelves

Installing floating shelves in your house combines the functionality of an extra storage space with added style and personal flair. Floating shelves can be mounted on walls in many different patterns, and they come in various materials to give your rooms a unique texture. Small rooms have storage challenges so choose shallow shelves to display framed photos, vases and accent objects but don't go overboard. If you’re dealing with a large room, you can use deep shelves to incorporate the floating shelves and the furniture. This way you have multiple storage for your things without making the room empty.

3. Paint an Accent Wall

Painting an accent wall can add a pop of color and showcase your personality. Usually, a low-risk project, a homeowner of any skill level can tackle this project in a day. You just need some tape, brushes and paint. Colors can change the vibe in your home and it will definitely be for the better. Choose a paint color that suits you, Just make sure that they complement each other and be consistent between warm and cool tones.

4. Install Decorative Molding

Adding decorative molding around your home can add an extra touch of elegance. Install molding to the ceiling by capping walls, columns, and cabinets, or add chair molding lower to the ground. With detailed molding, you can add character to your rooms while also making them feel taller and more finished.

5. Build a Stone Fire Pit

Take your sophisticated style outside by building a stone fire pit in your backyard. Completed in just a few hours, take uniquely shaped rocks or large stones and put them together to create a functional and stylish fire pit. Before starting the project, be sure to check your local fire codes or homeowners association to ensure you are safe and allowed to start building.

Adding a touch of class to your home doesn't have to break the bank! Just be sure to start with one project at a time, allowing yourself to complete one before starting the next. Otherwise, you'll fall victim to chronic project incompleteness syndrome - not a good look!

Now that you know about these five inexpensive DIY projects, which will you try?

For most Canadians, owning a home is a lifelong ambition. Unfortunately, opportunistic companies have emerged as a relatively new and dangerous threat to homeowners who have fallen behind on their mortgage payments and may be facing foreclosure. Real-estate scams have become commonplace for desperate homeowners, and the COVID-19 pandemic may exacerbate the situation.

Most banks allow mortgage payments to be deferred or skipped for up to six months. During this time, however, the accrued interest will be added to the principal amount owed, increasing the total cost of borrowing.

Foreclosure fraud is a little more complex than title fraud but just as harmful. This kind of fraud happens when homeowners who are unable to make mortgage payments are tricked by fraudsters into transferring their titles in exchange for a loan. Usually, these loans have unrealistically attractive terms to entice desperate people. Unfortunately, the perpetrators commonly end up withholding payments once the title is signed over, and can then resell or remortgage the property with impunity. As we get closer to the end of mortgage deferral or grace periods, it’s conceivable that businesses and individuals who are still in financial difficulty may fall prey to these too-good-to-be-true scams.

According to the Financial Consumer Agency of Canada, “Foreclosure fraud usually happens when you are having problems making your mortgage payments. You may be tricked into transferring your property title to somebody to get a loan that will help you make your payments. Their goal is to persuade the victim to sign a first, second, or even third mortgage, as well as a builders' legal hypothec (which ensures that the property owner cannot sell without paying debts to builders and renovators) or lien, allowing the fraudster's name to appear on the title. After then, all the fraudster has to do to foreclose on the mortgage is cause a loan default under the guise of the victim's failure to comply with some ambiguous phrase. If the victim is unable to repay the lender, they will be forced to sell the property.

From a real estate statistic perspective

According to the Canadian Anti-Fraud Centre, there were 40,612 victims of fraud in Canada, with $106.4 million lost. Almost 3 out of 4 Canadians were targeted in scams or attacks, based on research conducted by Chartered Professional Accountants of Canada. Extortion, Identity, and Personal Information fraud were the top three types of fraud reported in 2020. These are troubling statistics in light of the potential uptick in financially vulnerable Canadians we may see soon.

How can we protect ourselves?

• keep your mortgage information in a safe place and shred old documents rather than throwing them in the trash

• contact your mortgage lender first if you are having difficulty making your mortgage payments

• consult your lawyer before giving another person a right to deal with your home or other assets

• research any company or individual who offers you a loan

• do a land title search with your provincial or territorial land registry office, which will show the name of the property owner and any mortgages or liens registered on the title

Across Canada, money-savvy millennials are taking the plunge into homeownership, knowing that it’s one of the best long-term investments that they can make. 

Whether you’re buying a house, condo, or townhome, the process can be a bit daunting, and you may not be sure of where to start. Don’t worry! Here are tips to smoothly find your dream house.

PREPARE FOR STICKER SHOCK

Yes, if you’re prepping to buy a home in 2021, expect to be shocked, and not in a good way. At this point, home prices have eclipsed old all-time highs in many parts of the country.

And even if they haven’t yet, there’s a good chance you’ll be paying more than the Zestimate or Redfin Estimate for the property in question due to limited inventory and strong home buyer demand.

In short, expect to shell out a lot of dough if you want a home in 2021, and that could often mean paying over the asking price, even if the original list price seems high.

SAVE FOR A DOWN PAYMENT AND OTHER EXPENSES

Before you start shopping for real estate, your first step is to save up money for a down payment. A “down payment” is the amount of money that you put towards the purchase of a home. In general, the larger your down payment, the easier it is to obtain a mortgage. As you start saving, you might ask: how much do I need to save for a down payment? The minimum amount depends on the home’s purchase price. In Canada, people typically spend between 5% and 20% of the purchase price on a down payment.

PREPARE YOUR FINANCES 

Get your finances in order before cruising the real estate listings. This process will help you estimate how much you can afford to buy, as well as organize critical documents required to support a mortgage application.

CHECK YOUR CREDIT SCORE

A credit score is a rating (between 300 and 900) used by lenders to assess the amount of risk they face in extending credit to you. In general, the lower your score, the less likely you are to be approved for a loan. Checking your credit rating allows you to see where you fall on the scale and figure out how to improve your credit score before submitting a mortgage application.

RESEARCH FIRST-TIME HOME BUYER INCENTIVES 

Speaking of saving money, don’t forget to take advantage of these first-time homebuyer incentives in Canada. It could save you some serious dough.

ORGANIZE YOUR DOCUMENTATION

There are three things a lender will look at before giving you a mortgage: your current assets (what you own), your income, and your current level of debt. During the application process, here are a few items that your mortgage lender may request from you:

Government-issued photo identification (driver’s license, passport, etc.)

Proof of employment and income (pay stubs, T4s, income tax returns, bank statements, etc.)

Proof of a down payment and where it will come from (e.g. savings account, RRSP, the sale of another property, gift, etc.). If a family member is contributing towards your down payment, you will also need a signed letter from them acknowledging the purpose of the gift, and confirming that it is non-repayable.

Information about any other assets

Information about your debts (e.g. credit card balances, car loans or leases, lines of credit, student loans) or financial obligations (e.g. spousal/child support)

Having these documents handy is a house-hunting hack – it will ultimately prevent you from scrambling to get your act together at the last minute.

GET A MORTGAGE PRE-APPROVAL

With your finances in order, the next step is to figure out how much you can afford. A mortgage calculator is a good place to start, as you can factor in the amount of your down payment, your amortization (repayment) schedule, total selling price, and so forth to come up with a budget.

Using a mortgage affordability calculator can help you estimate how much mortgage you can afford by crunching the numbers for some, or all of these factors.

THE BEST TIME TO BUY MIGHT BE LATER IN THE YEAR

Before you get too excited, or worried that time is running out, it might actually be in your favor to slow play this one.

Per Zillow, the best time to buy a home may be in late summer, including the months of August and September.

Basically, you’ve got the slow, cold months at the start of the year where there isn’t much inventory, followed by the strong spring housing market where everyone and their mother wants to buy.

Then you get a lull and perhaps even a dip in home prices during summer, which could be an attractive entry point.

You might even get lucky and snag a price cut with a lot less competition while other prospective buyers are on vacation.

That being said, get pre-approved NOW and set up your alerts for new listings ASAP and just be ready to pounce whenever.

START HOUSE-HUNTING!

You’ve got some money in the bank and a pre-approval in your hands. This is the exciting part of the home buying process – when you can start perusing the Canadian Multiple Listing Service (MLS) site in earnest.

Now hosted at Realtor.ca, this MLS provides a nationwide compilation of available real estate listings that you can filter in any number of ways: by location, size, type, amenities, price, and more.

If you aren’t sure whether a home you’re interested in is fairly priced or not, consider typing the address into Properly’s Home Value Report tool. This tool is designed to give homeowners an accurate snapshot of their home’s value, but can also give buyers valuable insight into recent sales data for their ideal neighborhood. Best of all, it’s free.

LEARN MORE ABOUT THE PROPERLY

It’s at this stage that you’ll want to seriously consider working with a real estate agent. This is not mandatory—buyers are allowed to manage their sales—but it’s advised, especially for first-timers.

Real estate agents have expert information on every step of the process which can help relieve stress, and they are also part of a professional network of inspectors, insurance agents, and so forth who may become part of your team.

Buying your dream house can be a daunting experience for anyone. Long before the fun part—the actual search for your dream home—you have to figure out your finances, identify and exploit saving opportunities, get pre-approved for a mortgage, and hire your real estate agent, lawyer, and other professionals.

It might seem overwhelming, but  it’s worth it to become a homeowner with your dream house. This guide will help you get one step closer to having the keys to your new home in hand. Good luck!

Your expertise is essential as your clients seek encouragement, ways to keep spirits high, and cost-cutting tips. As a fiduciary, you can assist them in navigating the complexities of a new normal, particularly if financial difficulties are a reality and they are at risk of losing their home due to the inability to pay their mortgage.

It is critical to approach this conversation with your sphere from a place of contribution, care, and sensitivity. Offer resources, avoid making assumptions and simply let them know you are willing to help in any way you can. Start by sharing the measures we’ve outlined below from the Consumer Finance Protection Bureau to help you discuss this important topic.

When is it too late to stop a foreclosure?

The only time it is too late to stop a foreclosure is when the property is sold at auction to a new party, people who are unable to repay their loans often file for bankruptcy because it stops the foreclosure process. Even on the day, the property is scheduled to be sold, the foreclosure can be halted. A homeowner can stop foreclosure until the property is sold at auction.

After 90 days have passed since the last payment, the lender will usually take action against the homeowner. After 90 days, the lender sends the homeowner a delinquency notice. The homeowner can choose between two options. They can either pay the mortgage amount and avoid foreclosure, or they can continue to make no payments, causing the lender to foreclose on the property.

After 120 days and no payment has been made by the borrower, the lender is required to issue a notice indicating their intent to foreclose on the property. Following that, the foreclosure attorney will publish a notice of the impending sale in a legal newspaper. The notice period will last 5 weeks, after which the property will be sold at a public auction. During the 5-week notice period, the homeowner has the option of stopping the foreclosure by making up all missed payments (including late fees and attorney fees) or working with an attorney to stop the foreclosure.

There are several mortgage relief options for clients who are at risk of foreclosure.

1. Forbearance

Mortgage forbearance is an agreement made between a lender and a borrower to suspend or reduce payments for a specific period as they strengthen their financial situation. Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, homeowners who are experiencing financial hardship directly or indirectly because of the national emergency, are entitled to forbearance for 180 days (and additional protections) if they have a federally or Government Sponsored Entity-backed mortgage. If your clients are unsure or do not believe they qualify for mortgage forbearance under the CARES act, they should not be deterred. They must call their lender right away to discuss this option. 

2. Reinstatement

Forbearance does not mean loan payments are forgiven or eliminated. When the forbearance period concludes, your clients will have to pay back the debt they have accrued during the period. When they pay this debt back in one lump sum, it will result in the reinstatement of their original mortgage loan terms; this is the fastest form of forbearance repayment. The other option they can discuss with their lender is a repayment plan; their lender will be fully versed on these options and can discuss which would make sense for their particular situation.

3. Repayment Plan

With repayment plans, lenders allow borrowers to gradually pay back any debt incurred during a forbearance period by increasing the borrower’s monthly payments until the additional debt has been repaid. Repayment plans vary from loan to loan.

4. Loan Modification

If the reinstatement or repayment is not feasible for your clients, their lender may be willing to amend their mortgage in another way. The Consumer Financial Protection Bureau has more information on various loan modification options, as well as other helpful advice like how to avoid coronavirus-related scams.

Across Canada, money-savvy millennials are taking the plunge into homeownership, knowing that it’s one of the best long-term investments that they can make. 

Whether you’re buying a house, condo, or townhome, the process can be a bit daunting, and you may not be sure of where to start. Don’t worry! Here are tips to smoothly find your dream house.

Prepare for Sticker Shock

Yes, if you’re prepping to buy a home in 2021, expect to be shocked, and not in a good way. At this point, home prices have eclipsed old all-time highs in many parts of the country.

And even if they haven’t yet, there’s a good chance you’ll be paying more than the Zestimate or Redfin Estimate for the property in question due to limited inventory and strong home buyer demand.

In short, expect to shell out a lot of dough if you want a home in 2021, and that could often mean paying over the asking price, even if the original list price seems high.

Save for a Down Payment and Other Expenses

Before you start shopping for real estate, your first step is to save up money for a down payment. A “down payment” is the amount of money that you put towards the purchase of a home. In general, the larger your down payment, the easier it is to obtain a mortgage. As you start saving, you might ask: how much do I need to save for a down payment? The minimum amount depends on the home’s purchase price. In Canada, people typically spend between 5% and 20% of the purchase price on a down payment.

Prepare Your Finances 

Get your finances in order before cruising the real estate listings. This process will help you estimate how much you can afford to buy, as well as organize critical documents required to support a mortgage application.

Check Your Credit Score

A credit score is a rating (between 300 and 900) used by lenders to assess the amount of risk they face in extending credit to you. In general, the lower your score, the less likely you are to be approved for a loan. Checking your credit rating allows you to see where you fall on the scale and figure out how to improve your credit score before submitting a mortgage application.

Research First-Time Home Buyer Incentives 

Speaking of saving money, don’t forget to take advantage of these first-time homebuyer incentives in Canada. It could save you some serious dough.

Organize Your Documentation

There are three things a lender will look at before giving you a mortgage: your current assets (what you own), your income, and your current level of debt. During the application process, here are a few items that your mortgage lender may request from you:

Government-issued photo identification (driver’s license, passport, etc.)

Proof of employment and income (pay stubs, T4s, income tax returns, bank statements, etc.)

Proof of a down payment and where it will come from (e.g. savings account, RRSP, the sale of another property, gift, etc.). If a family member is contributing towards your down payment, you will also need a signed letter from them acknowledging the purpose of the gift, and confirming that it is non-repayable.

Information about any other assets

Information about your debts (e.g. credit card balances, car loans or leases, lines of credit, student loans) or financial obligations (e.g. spousal/child support)

Having these documents handy is a house-hunting hack – it will ultimately prevent you from scrambling to get your act together at the last minute.

Get a Mortgage Pre-Approval

With your finances in order, the next step is to figure out how much you can afford. A mortgage calculator is a good place to start, as you can factor in the amount of your down payment, your amortization (repayment) schedule, total selling price, and so forth to come up with a budget.

Using a mortgage affordability calculator can help you estimate how much mortgage you can afford by crunching the numbers for some, or all of these factors.

The Best Time to Buy Might Be Later in the Year

Before you get too excited, or worried that time is running out, it might actually be in your favor to slow play this one.

Per Zillow, the best time to buy a home may be in late summer, including the months of August and September.

Basically, you’ve got the slow, cold months at the start of the year where there isn’t much inventory, followed by the strong spring housing market where everyone and their mother wants to buy.

Then you get a lull and perhaps even a dip in home prices during summer, which could be an attractive entry point.

You might even get lucky and snag a price cut with a lot less competition while other prospective buyers are on vacation.

That being said, get pre-approved NOW and set up your alerts for new listings ASAP and just be ready to pounce whenever.

Start House-Hunting!

You’ve got some money in the bank and a pre-approval in your hands. This is the exciting part of the home buying process – when you can start perusing the Canadian Multiple Listing Service (MLS) site in earnest.

Now hosted at Realtor.ca, this MLS provides a nationwide compilation of available real estate listings that you can filter in any number of ways: by location, size, type, amenities, price, and more.

If you aren’t sure whether a home you’re interested in is fairly priced or not, consider typing the address into Properly’s Home Value Report tool. This tool is designed to give homeowners an accurate snapshot of their home’s value, but can also give buyers valuable insight into recent sales data for their ideal neighborhood. Best of all, it’s free.

Learn more about the Properly

It’s at this stage that you’ll want to seriously consider working with a real estate agent. This is not mandatory—buyers are allowed to manage their sales—but it’s advised, especially for first-timers.

Real estate agents have expert information on every step of the process which can help relieve stress, and they are also part of a professional network of inspectors, insurance agents, and so forth who may become part of your team.

Buying your dream house can be a daunting experience for anyone. Long before the fun part—the actual search for your dream home—you have to figure out your finances, identify and exploit saving opportunities, get pre-approved for a mortgage, and hire your real estate agent, lawyer, and other professionals.

It might seem overwhelming, but  it’s worth it to become a homeowner with your dream house. This guide will help you get one step closer to having the keys to your new home in hand. Good luck!

Your expertise is essential as your clients seek encouragement, ways to keep spirits high, and cost-cutting tips. As a fiduciary, you can assist them in navigating the complexities of a new normal, particularly if financial difficulties are a reality and they are at risk of losing their home due to the inability to pay their mortgage.

It is critical to approach this conversation with your sphere from a place of contribution, care, and sensitivity. Offer resources, avoid making assumptions and simply let them know you are willing to help in any way you can. Start by sharing the measures we’ve outlined below from the Consumer Finance Protection Bureau to help you discuss this important topic.

When is it too late to stop a foreclosure?

The only time it is too late to stop a foreclosure is when the property is sold at auction to a new party, people who are unable to repay their loans often file for bankruptcy because it stops the foreclosure process. Even on the day, the property is scheduled to be sold, the foreclosure can be halted. A homeowner can stop foreclosure until the property is sold at auction.

After 90 days have passed since the last payment, the lender will usually take action against the homeowner. After 90 days, the lender sends the homeowner a delinquency notice. The homeowner can choose between two options. They can either pay the mortgage amount and avoid foreclosure, or they can continue to make no payments, causing the lender to foreclose on the property.

After 120 days and no payment has been made by the borrower, the lender is required to issue a notice indicating their intent to foreclose on the property. Following that, the foreclosure attorney will publish a notice of the impending sale in a legal newspaper. The notice period will last 5 weeks, after which the property will be sold at a public auction. During the 5-week notice period, the homeowner has the option of stopping the foreclosure by making up all missed payments (including late fees and attorney fees) or working with an attorney to stop the foreclosure.

There are several mortgage relief options for clients who are at risk of foreclosure.

1. Forbearance

Mortgage forbearance is an agreement made between a lender and a borrower to suspend or reduce payments for a specific period as they strengthen their financial situation. Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, homeowners who are experiencing financial hardship directly or indirectly because of the national emergency, are entitled to forbearance for 180 days (and additional protections) if they have a federally or Government Sponsored Entity-backed mortgage. If your clients are unsure or do not believe they qualify for mortgage forbearance under the CARES act, they should not be deterred. They must call their lender right away to discuss this option. 

2. Reinstatement

Forbearance does not mean loan payments are forgiven or eliminated. When the forbearance period concludes, your clients will have to pay back the debt they have accrued during the period. When they pay this debt back in one lump sum, it will result in the reinstatement of their original mortgage loan terms; this is the fastest form of forbearance repayment. The other option they can discuss with their lender is a repayment plan; their lender will be fully versed on these options and can discuss which would make sense for their particular situation.

3. Repayment Plan

With repayment plans, lenders allow borrowers to gradually pay back any debt incurred during a forbearance period by increasing the borrower’s monthly payments until the additional debt has been repaid. Repayment plans vary from loan to loan.

4. Loan Modification

If the reinstatement or repayment is not feasible for your clients, their lender may be willing to amend their mortgage in another way. The Consumer Financial Protection Bureau has more information on various loan modification options, as well as other helpful advice like how to avoid coronavirus-related scams.

For most Canadians, owning a home is a lifelong ambition. Unfortunately, opportunistic companies have emerged as a relatively new and dangerous threat to homeowners who have fallen behind on their mortgage payments and may be facing foreclosure. Real-estate scams have become commonplace for desperate homeowners, and the COVID-19 pandemic may exacerbate the situation.

Most banks allow mortgage payments to be deferred or skipped for up to six months. During this time, however, the accrued interest will be added to the principal amount owed, increasing the total cost of borrowing.

Foreclosure fraud is a little more complex than title fraud but just as harmful. This kind of fraud happens when homeowners who are unable to make mortgage payments are tricked by fraudsters into transferring their titles in exchange for a loan. Usually, these loans have unrealistically attractive terms to entice desperate people. Unfortunately, the perpetrators commonly end up withholding payments once the title is signed over, and can then resell or remortgage the property with impunity. As we get closer to the end of mortgage deferral or grace periods, it’s conceivable that businesses and individuals who are still in financial difficulty may fall prey to these too-good-to-be-true scams.

According to the Financial Consumer Agency of Canada, “Foreclosure fraud usually happens when you are having problems making your mortgage payments. You may be tricked into transferring your property title to somebody to get a loan that will help you make your payments. Their goal is to persuade the victim to sign a first, second, or even third mortgage, as well as a builders' legal hypothec (which ensures that the property owner cannot sell without paying debts to builders and renovators) or lien, allowing the fraudster's name to appear on the title. After then, all the fraudster has to do to foreclose on the mortgage is cause a loan default under the guise of the victim's failure to comply with some ambiguous phrase. If the victim is unable to repay the lender, they will be forced to sell the property.

From a real estate statistic perspective

According to the Canadian Anti-Fraud Centre, there were 40,612 victims of fraud in Canada, with $106.4 million lost. Almost 3 out of 4 Canadians were targeted in scams or attacks, based on research conducted by Chartered Professional Accountants of Canada. Extortion, Identity, and Personal Information fraud were the top three types of fraud reported in 2020. These are troubling statistics in light of the potential uptick in financially vulnerable Canadians we may see soon.

How can we protect ourselves?

• keep your mortgage information in a safe place and shred old documents rather than throwing them in the trash

• contact your mortgage lender first if you are having difficulty making your mortgage payments

• consult your lawyer before giving another person a right to deal with your home or other assets

• research any company or individual who offers you a loan

• do a land title search with your provincial or territorial land registry office, which will show the name of the property owner and any mortgages or liens registered on the title

Decorating your house is more fun than setting up security measures. But burglars strike every 30 seconds, so home security should be a top priority.1 As startling as these reports are, the good news is that we can help you to get back to the fun stuff with the list of preventive measures to make a burglar-proof home. 

l Never leave keys in hiding places outside the house.

l Always keep your garage door closed and locked.

l Trim back all bushes under windows.

l Plant prickly, thorny shrubs or bushes under windows to discourage prowlers.

l Bright lights outside around all doors and windows discourage break-ins. Install motion-triggered lights around corners of the home.

l Install a solid core or metal-clad door fitted with both inside hinge pins and a minimum one-inch throw deadbolt lock.

l Doors with windows require a double key deadbolt.

l Secure garage doors with cane bolts and hasps.

l Install a peephole in the front door.

l Secure crank Windows by drilling a hole through the latch frame and handle, then insert a metal pin or nail through the hole to lock the window in place.

l Place Operation Identification stickers on doors and windows.

l If you have a keypad garage door, reprogram the code.

l Never leave your garage door opener visible in your car.

l Never let strangers into your home. Never give out your address or phone number to strangers.

These burglar-proofing tips will help you secure your home and keep your family and property secured. Take good care of yourself and be safe!

Decorating your house is more fun than setting up security measures. But burglars strike every 30 seconds, so home security should be a top priority.1 As startling as these reports are, the good news is that we can help you to get back to the fun stuff with the list of preventive measures to make a burglar-proof home. 

l Never leave keys in hiding places outside the house.

l Always keep your garage door closed and locked.

l Trim back all bushes under windows.

l Plant prickly, thorny shrubs or bushes under windows to discourage prowlers.

l Bright lights outside around all doors and windows discourage break-ins. Install motion-triggered lights around corners of the home.

l Install a solid core or metal-clad door fitted with both inside hinge pins and a minimum one-inch throw deadbolt lock.

l Doors with windows require a double key deadbolt.

l Secure garage doors with cane bolts and hasps.

l Install a peephole in the front door.

l Secure crank Windows by drilling a hole through the latch frame and handle, then insert a metal pin or nail through the hole to lock the window in place.

l Place Operation Identification stickers on doors and windows.

l If you have a keypad garage door, reprogram the code.

l Never leave your garage door opener visible in your car.

l Never let strangers into your home. Never give out your address or phone number to strangers.

These burglar-proofing tips will help you secure your home and keep your family and property secured. Take good care of yourself and be safe!

Feng Shui has been around since the ninth century BC, and is still popular today means that it has had historical impact.The famous ancient Chinese philosophy is pronounced as Fung Shway which means “wind and water,”. This traditional Chinese concept links the destiny of man to his environment. The elements play an important part in everyday life, as in wind and water that bring good harvests, which in turn bring good health and prosperity.

Feng Shui has now become a very popular and practical design element in the western world. It is based on Taoist philosophy, which puts a great deal of stock in living in harmony with nature, and states that land is alive and brimming with energy, or chi (chee). This in turn means that your home is alive and full of chi as well and needs to be arranged in such a way that the chi can be maximized. Find out how to use it in your home decorating at fengshui.

Feng Shui Elements

The five important elements of feng shui are wood, metal, earth, water, and fire.

Wood

Symbolizes growth and vitality. Placing wood items in your space encourages personal growth. Plants and wooden furniture are easy ways to add this element.

Metal

Symbolizes logic and intelligence. It supports knowledge and mental sharpness. Add this element to your space with metal frames or sculptures.

Earth

Symbolizes stability and balance. It helps to ground and stabilize. Bring the earth element inside with rocks, crystals and landscape imagery.

Water

Symbolizes wisdom and serenity. It helps with clarity and relaxation. Mirrors, reflective surfaces and aquariums are ways to add the water element to your space.

Fire

Symbolizes passion and energy. It’s representative of transformation, expansion and volatility. Use candles and red objects to enhance your space with fire.

If you prefer to apply feng shui principles to a room rather than a whole house, here are some things to keep in mind.

Find out how to use it in your home decorating at fengshui.

Optional addition

Source: https://www.invaluable.com/blog/what-is-feng-shui/

Interior Design

LIVING ROOM

When designing your living room, begin with the largest piece of furniture you have (typically, a sofa). Make sure it faces a door or opening and is placed against a wall, ideally the one furthest from the entrance and allows for a few inches of breathing room between.

If you have additional seating like a lounge chair, choose where to put it based on what is conducive for conversation. Try not to cramp the space. The goal is to create energy flow.

When deciding on a coffee table, try to avoid harsh angles. If a circle or oval feels too contrasting to the rest of your furniture, just contrast the shapes in the smaller element as this creates better balance.

Use sheer window coverings to allow light in but prevent energy from escaping. If you prefer completely uncovered windows, try placing a plant nearby.

Adding red elements will help invigorate the room and help to energize.

BEDROOM 

Similar to the living room, start with your bed and place it far away from the doorway, but not directly facing it. Try to avoid having too many electrical components close to your sleeping space.

If possible, avoid putting a television in your private space. This often becomes the focal point of the room, which takes away from the calming energy.

Combine masculine and feminine details to make sure both parties are represented and a balance is established. If you have a metal or wooden bed frame, choose soft-colored linens.

Fill your bedroom with cozy material to invite a restful, calming energy. Using hues in green and blue can add to this type of feeling. Clearing out whatever is under your bed also helps energy flow.

HOME OFFICE 

The biggest tip for home office decor is removing the clutter. As much as 50 percent of your desk should be clear, which means it’s time to hide those cords!

Similar to the layout in the other rooms, position your desk facing the door because this gives you a position of power, which is important for your place of work or productivity.

Decorate this space with a few personal objects like a family photo and incorporate greenery as the energy from plants will help you stay focused. To invigorate the area, add red details.

In terms of color, use gentle yellows and greens to calm and center. Add earth tones for stability and flowers or a motto to remind you of what you need to accomplish.   

There are so many terms out there for the types of houses that are available that it’s hard to keep everything straight. What follows is a quick course in the various types of houses available.

Site-built and stick-built homes usually refer to a traditional single-family residence that is built at the same site on which the finished home will stand. It is built by a local building contractor who builds the house according to local construction codes. A stick-built home can also refer to a modular home, but not site built. Confused yet? Let’s move on to mobile homes and their new, improved image.

First of all, forget the term “mobile home” – they’re now called “manufactured” homes. The old rectangular shoeboxes you used to see (and still do) packed together along the highway have been replaced by 2,500-square-foot structures with sunrooms and decks. The Manufactured Housing Institute defines a manufactured home as "a single-family house constructed entirely in a controlled factory environment, built to the federal Manufactured Home Construction and Safety Standards, better known as the HUD Code." Most people still refer to them as mobile homes, but the MHI says that "mobile home" is the term used for homes built before June 15, 1976, when the HUD Code went into effect.

The U.S. Department of Housing and Urban Development, to further clarify, defines a manufactured home as a dwelling that contains at least 320 square feet with a permanent chassis for transportability (or “mobility”) of the home. These homes are constructed according to the Federal code that applies nationwide. Thanks to the uniform code, these structures are thoroughly inspected at the factory and have to pass muster. Most manufactured homes are sold through retailers.

Twenty-five percent of new residential construction and home sales annually in the U.S. are manufactured homes. One reason: this is the lowest cost stand-alone residence available. You can purchase a brand new single-section manufactured home for less than $29,000! And manufactured homes are losing their stigma thanks to the new design – in other words, mobile homes have lost their boxy look.

There are a few drawbacks, of course. One is that many communities do not allow manufactured homes (the old stigma rearing its ugly head) and another is potentially costly insurance. This is thanks to the perceived risks to manufactured homes. Insurance costs are based primarily on exposure to risk, and statistically, according to insurers, manufactured homes are the riskiest types of homes. Take weather damage, for example. Manufactured homes are less able to sustain high winds because they’re lighter than stick-built homes and easier to blow over. And while manufactured homes are not more likely to catch fire, they are more likely to suffer heavy damage, if not complete devastation. Frozen pipes are another danger because the walls are often not as well insulated.

And now for a look at the new kid on the block, modular housing. Most people have a hazy-at-best idea of modular homes – are they made of molded plastic? Are the rooms ultra-modern pods, or what? No, and no. Once built, they are virtually indistinguishable from traditional site-built homes.

Like manufactured houses, they are built in a factory and quality inspected every step of the way. Unlike manufactured homes, the pieces (“modules'') of the house are transported to the building site where they are put together by a local building contractor, and they have no chassis or wheels. Since all work is done indoors, there is no weather damage or delay. Some floor plans can be built in the factory in as little as one to two weeks, and two to four more weeks to attach the modules to a concrete foundation, hook up utilities and complete the home.

Unlike manufactured homes, modular must conform to building codes in your specific location. And while they do cost more than manufactured homes in general, they usually cost less per square foot than for a comparable site-built house and are extremely energy efficient. Few communities have restrictions against modular other than size requirements. Thanks to computer-aided design technology, you can select from a virtually unlimited range of styles. The modules even can be shipped with wall finish, carpeting, bathroom fixtures, cabinets, countertops, plumbing, floor coverings, electrical systems, and insulation already installed.

Modular housing may be the wave of the future. It accounts for 60 percent of all residences in Sweden and 30 percent in Japan. Modulars work well for people who want to build in remote locations and rural areas, and unlike site-built homes, they cut waste and environmental impacts. Most of the time, modular homes qualify for traditional mortgages because they are usually part of a land and home purchase like site-built homes. Best of all, modular homes are built a lot faster than the regular home building process which may take 2-3 years to complete. Vendors can deliver finished modular homes in just over a year.