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July Newsletter
2013-07-03

When one of you wants to keep the marital home…

New Spousal Separation Mortgage allows financing to 95 per cent!

It’s hard enough to get through the process of splitting assets in the event of a separation or divorce. What if one of you wants to keep the family home?   

We can help.

Although new mortgage rules mean you can only refinance your home to 80 per cent of the value, a Spousal Separation Mortgage allows a buyout to 95 per cent, making it easier for one spouse to keep the home.  This new mortgage can provide a fair buyout, and possibly pay off other joint debt.

When one of you wants to keep the marital home… make us one of your first calls. We may be able to help clear some of the financial hurdles. We’ll guide you through the process, structuring the mortgage for the buyout of one spouse, and then help the other spouse with the purchase of a new home as well.  We believe that your home can be the asset that gives both partners a fresh start!

Pay your phone bill on time!

Paying your bills on time has always been the most important credit habit. Now you’ve got an extra reason to pay that phone bill on time. Equifax recently began to include telecommunication companies' trade lines on credit bureau reports (i.e. Bell, Rogers, Telus etc.).  While this new information will not affect your credit score, your lender will be able to see if you have any delinquencies with your phone bills, which can influence credit decisions. Want to see what’s on your credit report? Go to www.equifax.ca and order it free through the mail, or you can download it for a small fee.

The perfect vacation… at home.

We love our homes – and some of our best summer memories can be made in our own back yards and family rooms!  So if you can’t get away this summer, plan a perfect vacation… at home. Think of the benefits: zero travel time and far fewer risks of overspending! Get everyone involved in planning a fun, low-cost “staycation”! Some starter tips:

  • Turn off phones, including your cell!
  • Power down the computer and don’t check email. You’re on vacation.
  • Have your house professionally cleaned.
  • Order in your favourite dinner.
  • Camp in the back yard.
  • Relax outside by candlelight.
  • Everyone find some books.
  • Enjoy your own film festival – or find an old-fashioned drive in.
  • Make at least one excursion to a free local attraction; learn about your own community!
  • If you’ve got kids, swap babysitting with a friend. Plan some fun for when the kids are at your house (a cupcake party or games night) and enjoy a night out when it’s your turn!

Take pictures of your vacation – for great memories!  Have a fantastic summer!


Source: Invis and Mortgage Intelligence


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