Finance Minister Jim Flaherty pledged today to triple the amount of mortgages the government can buy from banks to as much as C$75 billion. The Canadian Gov't, using its crown corporation, the Canadian Mortgage and Housing Corp. (CMHC), purchased $25 billion in mortgages last month. Allow me to explain in simply terms what the government is in fact doing... The gov't via CMHC has insured many mortgages for the banks. In other words, CMHC has sold the banks default insurance on mortgages that the banks have provided to their clients, which guarantees that CMHC will cover any shortfall realized by the banks in the event of default by their clients. The banks issues these mortgages to their clients using their own money, and the bank waits for repayment based on the terms of the mortgage, ... 11/12/2008

For many people, the idea of letting someone live in your home for a definite period of time seems foreign.  But others view it as an opportunity to knock a few grand off their mortgage, especially if circumstance has them relocating to another city for an extended period of time. Most Lease terms are for a period of one year, but can also be for longer periods.  As always, you should work with your Realtor® to arrange the necessary paperwork.  Not only to ensure that your rights are well protected, but to ensure that once you accept an offer, the transaction closes in a timely manner.  This allows you to look forward to your pending move knowing, that your single biggest asset is well protected and your mortgage $15K - $20K lighter. What are some conditions to include in a Residential ... 11/03/2008

Among households that renovated in 2007, 41 percent contracted out all the work, while 31 percent did the work themselves or with the help of friends or family.  Over a quarter of households who renovated did a mix of both hiring a contractor and doing a portion of the work themselves.  In 2007, compared to 2006, the share of households that decided to do the work themselves decreased, while a larger share of households contracted out all the work or contracted out part of the work and did some themselves.   What renovations are you prepared to attempt, and which ones will you contract out Send your comments to szabolcs.pall@century21.ca 11/03/2008