Mortgage Intelligence is Canada’s leader when it comes to arranging mortgages for homeowners. Together with affiliated firm Invis, Mortgage Intelligence reached a new milestone in the industry in 2010 — $100 billion in mortgages funded. Coast to coast our team of professional mortgage brokers provide a full range of mortgage and insurance products supported by expert mortgage advice tailored to your unique goals and financial situations.

For more information contact your broker:

Brad Gavin

Mortgage Associate, Mortgage Intelligence
TELEPHONE: (866)955-9662
EMAIL: brad.gavin@migroup.ca
WEBSITE: www.mbnmortgage.com or www.thekeytomortgagefreedom.com

111 5809 Macleod Tr SW, Calgary, AB, T2H 0J9

Credit Repair 101

So you don’t have the best credit record in history. You’ve maxed out cards, missed monthly payments, and “robbed” from plastic Peter to pay plastic Paul. Your financial mistakes have finally caught up to you, and you’ve just found out officially that you have a poor credit score. In most cases, you can recover from your credit mistakes. Make a disciplined plan to repair your credit profile with our Credit Repair 101 tips:

MAKE A PLAN AND STICK TO IT.

You must be serious and committed to making changes in your lifestyle – changes that will bring financial peace of mind. Above all, restrict yourself to absolutely necessary purchases. Borrow wisely. The two most important questions to ask yourself: “can I afford it?” and “do I really need it?” As tempting as it is to cut up all of your plastic, you must maintain responsible credit card use – your new payment history will gradually rebuild a better credit rating for you.

PROMPT PAYMENT

Prompt payment of bills, especially of credit cards, is the surest way to repair your credit rating. As you have discovered, we leave “financial footprints” for all to see. Payment of our bills, both amount and timeliness, are tracked by credit rating agencies such as Equifax Canada and TransUnion of Canada.

SAY NO TO GRACE PERIODS

It’s hard to resist such offers, and because your budget is tight, you naturally want to “legally” skip payments — but don’t do it. It’s a bad credit habit; only a financially strapped customer would fall for this, and you no longer want to send out that kind of message. Pay at least the minimum balance if you are really tight, but ideally you want to pay above that.

ALWAYS TRY TO PAY MORE THAN THE MINIMUM BALANCE

Not only does it polish your credit rating, but it also saves you a lot of money in interest, and makes a huge difference in your eventual goal of debt retirement.

KEEP YOUR BALANCES LOW

This is an important strategy, and one that will reflect well on your use of credit. You want to keep your balance way below the credit available to you.

DON’T SEND OUT FINANCIAL DISTRESS SIGNALS

Avoid excessive inquiries for credit. Do not use credit from one company to pay off credit to another. The creation of multiple new accounts is another red flag that works against you.

MAINTAIN AND USE BETWEEN TWO TO FOUR CARDS

– less that two and it takes longer to create a new payment history. More than four and you look like you cannot manage your debt. Remember – responsible, steady, and reliable use of your cards is your first and best defense against a poor rating.

TRY TO KEEP YOUR OLDEST MOST ESTABLISHED CREDIT CARD ACTIVE

The longer your history is with a certain company, the better it is for your credit rating. This is your most important account. If the interest rate is excessive, contact the company and explain your situation to them. Let them know that you are serious, and eager to maintain them as a creditor. Their goal is to keep a reliable customer, so make that work for you.

CONTACT YOUR CREDITORS

Don’t hide your head in the sand, and hope for the best. Take action. Pick up the phone, and explain your situation. Be upfront and honest. Remain cooperative and calm. Not only will they appreciate your initiative, but also they will be willing to create a payment plan that works for you. By calling, you are showing them that you are a concerned low risk customer. And, by communicating, you will avoid the dreaded collection agency round – a real downer for your credit rating.

SLOW AND STEADY WINS THE RACE

You’ll be rewarded for responsible longtime credit handling. Be patient — the passage of time will earn back your good credit profile. Then, when you do need credit for a major purchase — such as a car or a house – it will be there for you. Once recovered, maintaining a good credit rating takes vigilance, but it’s worth the effort. You’ll be able to live and enjoy a financially stable life.

“You can recover from your credit mistakes”

MAKE A PLAN AND STICK TO IT. – www.calgarycreditrepair.com 

 You must be serious and committed to making changes in your lifestyle – changes that will bring financial peace of mind. Above all, restrict yourself to absolutely necessary purchases. Borrow wisely. The two most important questions to ask yourself: “can I afford it?” and “do I really need it?” As tempting as it is to cut up all of your plastic, you must maintain responsible credit card use – your new payment history will gradually rebuild a better credit rating for you.

PROMPT PAYMENT – www.calgarycreditrepair.com 

Prompt payment of bills, especially of credit cards, is the surest way to repair your credit rating. As you have discovered, we leave “financial footprints” for all to see. Payment of our bills, both amount and timeliness, are tracked by credit rating agencies such as Equifax Canada and TransUnion of Canada.

 -- less that two and it takes longer to create a new payment history. More than four, and you look like you cannot manage your debt. Remember – responsible, steady, and reliable use of your cards is your first and best defense against a poor rating.

 TRY TO KEEP YOUR OLDEST MOST ESTABLISHED CREDIT CARD ACTIVE – www.calgarycreditrepair.com CONTACT YOUR CREDITORS – www.calgarycreditrepair.com 

 Don’t hide your head in the sand, and hope for the best. Take action. Pick up the phone, and explain your situation. Be upfront and honest. Remain cooperative and calm. Not only will they appreciate your initiative, but also they will be willing to create a payment plan that works for you. By calling, you are showing them that you are a concerned low risk customer. And, by communicating, you will avoid the dreaded collection agency round – a real downer for your credit rating.SLOW AND STEADY – www.calgarycreditrepair.com 

MAINTAIN AND USE BETWEEN TWO TO FOUR CARDS – www.calgarycreditrepair.com

Don’t get caught at the last minute with a mortgage that is coming up for renewal. Enter your information by clicking on the link and we will be in contact with you well in advance of your renewal to ensure that you get the best rate and product to suit your needs.

Mortgage Renewal Reminder Sign-Up

Consider the qualifications that are required for a good mortgage associate. You must have excellent people skills. A sales or marketing background is helpful, though not required. Having the ability to speak more than one language may also be important depending on your locale. You also need excellent written and verbal communication skills.

While you don’t have to be a mathematical genius, you do need to be adept at using a computer, since much of the job entails searching for new sources of funding and quickly running interest rates, credit reports, and qualifying information. A college degree is not essential, but is definitely a plus. Some type of banking background is also helpful, but, again, not required. The main requirement is drive and a desire to help people, while at the same time making money.

Mortgage associates must be available to work nights and weekends when their customers are available, similar to a real estate agent. They must also be organized and have the ability to multi-task, since, frequently, they will be working with more than one customer at a time. A mortgage broker must also have a sense of urgency. A buyer may not have a lot of time, and the broker needs to get the money quickly so that the buyer will not lose the deal. The broker’s sense of urgency must match the customer’s.

Click here to find out how to become a licensed Mortgage Associate in Alberta.

Additional details can be found at the Alberta Mortgage Brokers Association site.

If you are interested in our mentoring program, please call Brad at 403-685-7025.

____________________________________________________

Brad Gavin – VP, MBN Group of Companies

Mortgage Broker – MBN Mortgage Ltd (Associated with Mortgage Intelligence)

111 5809 Macleod Tr SW

Calgary, AB T2H0J9

(403) 685-7025 wk

(866) 955-9662 tf

(403) 968-5337 cell

(866) 269-3499 fax

bgavin@mbnltd.com

www.mbnmortgage.com

Calgary, AB — April 15, 2010 — The Real Estate Investment Network (REIN™) a Division of Cutting Edge Research Inc. is pleased to release its 2010 update to The Calgary Transportation Effect, which details the impact of the upcoming transportation improvements, part of the government stimulus packages, on housing in Calgary.  The report’s research concludes that prices in select Calgary neighbourhoods will receive a 10% to 20% premium, over and above what the rest of the city’s market does in the coming years.

The failure of the Province of Alberta to reach a deal with the Tsuu T’ina nation resulted in an update to the transportation report as different communities will now be impacted by the southwest portion of the ring road running entirely through city land.

The report also includes more detailed information on the addition of the West LRT Line and proposed future extensions and expansions to the Calgary LRT network.      

REIN’s detailed research has found that there are three “Tiers of Impact” that will occur in the Calgary region:

First Tier, which will witness the most positive effects from the combined ring road and LRT improvements: NE — Saddle Ridge, Martindale, Falconridge, Taradale, Castleridge; NW — Rocky Ridge, Tuscany, Scenic Acres, Ranchlands, Silver Springs, Hawkwood.

Second Tier, which will feel positive impacts from either the LRT or the ring road: NE —, Coral Springs, Temple, Montery Park, Pineridge, Abbeydale, Applewood Park, Marlborough Park, Penbrook Meadows; NW — Bowness, Greenwood, Valley Ridge. SE — Chapparal, McKenzie Lake, Cranston, Auburn Bay, Mahogany, Copperfield, and Sundance

Third Tier regions will feel the ripple effect outward from the main impact areas; these include Cochrane, Balzac and Airdrie, as well as new developments near the Ring Road. 

When the Ring Road and the new LRT stations are completed, communities within an 800-metre radius of these transportation improvements can anticipate a 10%–20% increase in their property values. The largest effect will be felt in older and more established neighbourhoods.

“Our research shows that when a highway increases accessibility to the region by providing new access or shorter commute times, residential property values rise by 12%–15% over similar properties not affected by the new highway,” says Don Campbell, author of the best-selling Real Estate Investing in Canada. “People need to understand that commute and travel distances are now measured in minutes, not kilometres.”

The 2010 Calgary Transportation Effect report reviews the peer-reviewed academic research that has been conducted on the impact of light rail, highway expansion and road improvements in other parts of the world

__________________________________________________

Brad Gavin – VP, MBN Group of Companies

Mortgage Broker – MBN Mortgage Ltd (Associated with Mortgage Intelligence)

When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest. Few are major cities and some are surprising. Don Campbell, president of REIN, as well as one of the researchers on the study, says the results are based on factors such as planned transportation improvements, or if the area’s average income, population growth and job growth are increasing faster than the provincial average.

Oddly enough, nothing east of Ontario shows up on the list, and while Mr. Campbell says cities like Halifax, Saint John and Moncton “still provide decent returns,” the top cities are ones that will outperform the national average between 2010 and 2015.

1. Calgary

Calgary is “poised to outperform the average by a wide margin,” says Mr. Campbell, making it the top-ranked city.

After two years of declining average resale housing prices, the Canada Mortgage and Housing Corp. has predicted they will increase year-over-year in 2010.

The REIN report credits the downturn to a much-needed correction, and that it was “economically impossible for the [Calgary] market to continue at the pace at which it was heading.” But now that it is coming out of the recession, along with economies elsewhere, Calgary’s strengths in producing food, fuel and fertilizer will boost its growth.

“Calgary is in a unique economic and geographic position to take advantage of the direct and indirect jobs this increase in demand will create,” says Mr. Campbell, who adds that with strong in-migration and renewed affordability, the city provides a good buying window for long-term investors.

2. Kitchener-Waterloo-Cambridge, Ont.

REIN refers to Canada’s Technology Triangle as the “economic Alberta of Ontario.” That means KWC is not only seen as the economic engine of the new Ontario economy, but also that it “will outperform all other major regions in eastern Canada,” Mr. Campbell says. For indicators, he points to job growth, student growth and a new light rapid-transit system.

3. Edmonton

Edmonton sits near the top of the report’s list because of its future potential. Calling it a “perennial overachieving market,” REIN says the city is a “growing market, [with] an increasing population, and a forward-looking leadership.”

It will also be the main benefactor of energy development in Western Canada, says Mr. Campbell, resulting in a “very affordable, strong rental market with strong in-migration from across Canada.” Major infrastructure improvements, such as the ring road and LRT expansion, will be key.

4. Surrey, B.C.

British Columbia’s second-largest city is growing so fast it could become even bigger than Vancouver.

“Just a decade ago, it was known as the punch line to many a joke,” Mr. Campbell says. But with two border crossings to the United States, links to five major highways, deep sea docks and four railways, Surrey is a prime location to do business, he says.

Although there may be a strong rental market, it’s a city that requires a closer examination, taking “neighbourhoods and even the street’s characteristics into consideration when deciding where to purchase,” REIN warns.

5. Maple Ridge & Pitt Meadows, B.C.

The Translink and Gateway Project infrastructure improvements have made these B.C. towns the “most accessible regions in [Vancouver’s] Lower Mainland,” the report says. They’ve come a long way, Mr. Campbell says. The unofficial motto of Maple Ridge used to be “You can’t get there from here.” As a result of poor infrastructure in the past, property values have been historically low in this area. But with the improvements, it’s predicted an additional 400 business will move into the area, REIN says, improving the demand for both residential and commercial property.

6. Hamilton, Ont.

“The perception no longer matches the reality of Hamilton,” Mr. Campbell says. “The city’s leadership, as well as local business owners, have transformed what was once a rough-and-tumble steel town to a city with economic vitality, diversification and population growth.” REIN applauds Hamilton’s leadership as being innovative in revitalizing the city, adding Hamilton

“has beaten its overall building permit value for the second year in a row.”

7. St. Albert, Alta.

“Long thought of as a satellite of Edmonton, St. Albert is poised to be the biggest benefactor of the new Edmonton Ring Road,” says Mr. Campbell, who adds that as the transportation access improvement is completed, the city will begin to experience “a flood of not only new residents, but also the relocation of companies and jobs into town.” Other attributes of the city include consistently low vacancy rates, high rents and strong property value increases. It also helps that the city has “turned itself into a major retail centre for the northern region while adding to its industrial and commercial job base,” REIN says.

8. Barrie & Orillia, Ont.

These two cities have been shedding the perception of being just cottage country and have become a “hot bed for growth,” Mr. Campbell says. University and college expansion campuses have brought new life to the area, and the addition of Go Train access has made them viable commuter towns for the Greater Toronto Area, REIN says. For investors, this all adds up to healthy property appreciation, a respectable vacancy rate of 4.7% and the youngest residents on average in a given Census Metropolitan Area (CMA).

9. Red Deer, Alta.

In the centre of the Edmonton-Calgary corridor, Red Deer is not close to either. But REIN suggests reviewing city plans, as there will be a lot of hidden opportunities. “The whole central Alberta region has witnessed very strong population and job growth, as well as a real estate market that has continually outperformed most other regions of the country,” Mr. Campbell says. He adds that with a continually expanding industrial and commercial job base, Red Deer is in a good position to “take advantage of the inevitable growth in demand for food, fuel and fertilizer.”

10. Winnipeg

Winnipeg is often left off the real estate investment radar, but Mr. Campbell says it’s a good city for “consistent economic performance — not too high during booms and not too low during downturns.” But people should stick to buying top-quality properties. REIN also notes that housing prices, after dipping last year, are back to double-digit increases, which could “lead to an influx of inventory on the market.” But with one of the lowest vacancy rates in the country, at 1.2%, there is room for movement. Another positive factor for the city is international immigration is expected to increase under the provincial nominee program being undertaken by the government.

Financial Post

Read more: http://www.financialpost.com/news/Where+cities/3369599/story.html#ixzz0w83R2BY5

Economic activity in Canada is unfolding largely as expected, led by government and consumer spending. Housing activity is declining markedly from high levels, consistent with the Bank’s view that policy stimulus resulted in household expenditures being brought forward into late 2009 and early 2010. While employment growth has resumed, business investment appears to be held back by global uncertainties and has yet to recover from its sharp contraction during the recession.

The Bank expects the economic recovery in Canada to be more gradual than it had projected in its April MPR, with growth of 3.5 per cent in 2010, 2.9 per cent in 2011, and 2.2 per cent in 2012. This revision reflects a slightly weaker profile for global economic growth and more modest consumption growth in Canada. The Bank anticipates that business investment and net exports will make a relatively larger contribution to growth.

Inflation in Canada has been broadly in line with the Bank’s April projection. While the Bank now expects the economy to return to full capacity at the end of 2011, two quarters later than had been anticipated in April, the underlying dynamics for inflation are little changed. Both total CPI and core inflation are expected to remain near 2 per cent throughout the projection period. The Bank will look through the transitory effects on inflation of changes to provincial indirect taxes.

Reflecting all of these factors, the Bank has decided to raise the target for the overnight rate to 3/4 per cent. This decision leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.

The Bank of Canada may pause on its rate increases to assess the effects of the 2 increases already implemented before announcing any further rate increases.

After years of paying down your mortgage, you’ve built up a significant amount of equity in your home. Instead of using costly credit cards or high-interest bank lines of credit, you can use that equity to your advantage with a home equity loan or line of credit. And, you’ll save a considerable amount of money in the process.

 Home equity loan: This is a traditional loan in which a borrower uses built-up home equity as collateral. Following approval, the homeowner receives a lump-sum payment and makes fixed monthly payments over a predetermined period of time.

 Home equity line of credit (HELOC): Like a line of credit, homeowners can draw funds as needed, up to a set limit. Once funds are drawn, the borrower must pay a minimum monthly payment and can repay the entire amount owing at any time. Unlike a traditional home equity loan, interest is only paid on funds that have already been withdrawn.

 Two major uses of home equity-related financing are home renovations and debt consolidation. Renovations that can potentially boost the value of a home can offset the up-front borrowing costs. Similarly, using home equity to shift debt from high-interest credit cards to a much lower-interest loan can significantly reduce interest payouts and improve overall cash flow.

 As with all forms of debt, however, homeowners should always borrow conservatively by staying well within their overall debt limits and should always try to pay more than the minimum payment to maximize credit ratings and reduce long-term interest payments.

 A mortgage professional can review your home equity options and compare this borrowing method to other financing alternatives.

For more information, contact me today!