Planning her first major home renovation in the summer of 2009, Tina Davies felt like she was awaiting her first baby: excited, nervous and not sure what to expect. The project would plunge the Toronto makeup artist’s household into chaos for five months, but once it was done, her family of three would have a new kitchen and bathrooms, updated plumbing and electrical systems and upgrades to the entire interior, from new floors to freshly … [Read more...]
Lending Yourself Your Own RRSP Money
Paul E. Croy Some years back, while working as a Branch Manager for a Canadian Trust Company, I was given an opportunity to gain experience in the area of using your own RRSP to fund a “Non Arm’s Length” Mortgage. Proceeding to then give several seminars on the topic, I went a long way to establish myself as somewhat of a local expert. Recently however, while having coffee with a close friend, it came to my attention that to this date the … [Read more...]
Canadians Confident About Home Ownership
TORONTO, March 9 (Reporting by Ka Yan Ng; editing by Peter Galloway) Canadians are not only confident that they are assiduously paying down their mortgages, but they also believe they have the means necessary to weather a drop in house prices, contrary to worries that household debt is out of control, a poll showed on Wednesday. Almost three-quarters of Canadians, or 73 percent, believe that they or their families are well-positioned in the … [Read more...]
Canadian Credit Card Debt Dropped During Holiday Season
The Canadian Press TORONTO – There was a surprising drop in the amount borrowed on credit cards by Canadians during the holiday-laden fourth quarter, but overall non-mortgage debt went up substantially across the country, a credit analysis firm reported Wednesday. TransUnion said average total debt per Canadian consumer, excluding mortgages, was $25,709 in the fourth quarter of 2010 — up 5.6 per cent from $24,346 in the comparable period of … [Read more...]
