NLIC.org

Gertrude Said:

Can I get a mortgage in Canada if I live in the UK?

We Answered:

I am not sure about Canada but I am an ex pat living in the US. You can get a mortgage here without declaring your income and without proof of social security number etc. It is not uncommon at all. It will cost you 1-2% more and there may be other conditions attatched such as 2-% deposit.

Beverly Said:

Mortgage comming up for renewal?

We Answered:

Contact a Mortgage Broker to shop for the best rates.

Don't get the insurance through the bank. Its a decreasing face amount as your mortgage decreases but the premium stays the same.

If you are healthy, get Individual Term Insurance. Its usually cheaper than the Bank's Mortgage Insurance, and the policy and the coverage does not decrease over time.

Kevin Said:

How did Canada avoid the housing crisis the U.S. faced?

We Answered:

We did mortgage our homes to buy them and many people have second or third mortgages however the difference is that our banking regulations do not allow (or encourage) our citizens to over mortgage to buy a home. Our banks have different and more strict regulations to prevent exactly what happened in the US and they worked so well that many other countries are looking at adopting many of our rules and regs. Our people approach things a bit more responsibly too I think.

Emily Said:

ever wonder why Canada's foreclosure rate is less than .5%? will the US ever learn?

We Answered:

igloos are cheap???

Leroy Said:

With Rates Falling At What Point Do I Re-Negotiate My Mortgage?

We Answered:

Given that you have 4 more years at the current, low interest rate and would then have only 14 years left on the mortgage, the best answer likely is to NOT consider refinancing at all during the fixed rate period. Even if you were able to get a lower interest rate, the payment of penalties to refinance along with additional closing costs would require a significant amount of time to recover these expenses at the lower rate. A much better solution would be to apply the closing cost money and penalty money, along with any other funds you may find available, to make extra principle reduction payments. Even a modest extra amount of 5% to 10 % of the total monthly payment paid each month can reduce your eventual payoff considerably. With not much effort and consistently paying a little more toward principle each month, you could have about 10 years or even less left on this loan when the fixed rate ends. If the rate resets to a higher level, the amount remaining will be significantly smaller, thus the total remaining interest paid would not be a major concern. And if you did decide you wanted to refinance at that time, your options are much better as you would have lots of equity and the term would be very short, making the loan attractive to many lenders.

Heather Said:

Is bush's "surge" working?

We Answered:

This exact "non-question" was asked the other day. I guess you also go by the name Sean H.

Oil prices are the result of expanding economies in the 2 largest countries on the planet, India and China.

Home foreclosures are the result of stupid, greedy people taking out loans on homes they couldn't afford hoping to cash in on the housing bubble. Since they didn't have a cent down in many cases, it's their tough luck.

The dollar has been down before and it will be down again. The upside is that our trade deficit is decreasing. The dollar has been artificially inflated for the last 3 decades and has been used to keep other economies afloat.

Rafael Said:

Mortgage Course?

We Answered:

there is a site that has a list of on line schools that offer the courses you are looking for it is
http://www.canadiancontent.net/dir/Top/B…