THE (FINANCIAL) STRUGGLE IS REAL

THE (FINANCIAL) STRUGGLE IS REAL

Tiffany Yim
Real Estate

As you know, this year will be an exciting yet challenging one. We are hopeful that the interest rates will fall and stabilize for home buyers, but we are also approaching that time when many mortgage holders are renewing their mortgage at a substantially higher interest rate than what they started with at the height of the pandemic. Based on a recent Royal LePage survey, 15% of the Ontarians in the survey will be renewing their mortgages this year alone and 74% of these mortgage holders are worried about their mortgage renewals. Not to mention that variable rate holders are already feeling the weight on their shoulders, from interest rates to gas and food prices. Unfortunately, financial struggle and re-organization is inevitable for many.

MESS AROUND AND FIND OUT: RELIEF FROM FORFEITURE IN REAL ESTATE TRANSACTIONS

MESS AROUND AND FIND OUT: RELIEF FROM FORFEITURE IN REAL ESTATE TRANSACTIONS

Robert Sheldon
Real Estate

This appeal emerges from a real estate transaction that hit a financing snag. The Buyers engaged in an agreement to purchase a residential property in Waterloo, Ontario.  Unfortunately, the deal fell through as their financing became unattainable within the agreed timeframe. Subsequently, the Sellers sold the property to third parties at a higher price and retaining the buyers' deposit.

FAMILY ISSUES IN REAL ESTATE (PART 2)

FAMILY ISSUES IN REAL ESTATE (PART 2)

Don Travers
Real Estate

It is important to note that even if the parties meet the legal definition of common law, this does not mean that they have any interest in the other person's property. A legal common law relationship can impose support obligations on each other. However, parties must legally be married, before a party acquires any interest in real property.

JUST THE FLAX: HOW A THUMBS-UP EMOJI COST A SASKATCHEWAN FARMER $82,000

JUST THE FLAX: HOW A THUMBS-UP EMOJI COST A SASKATCHEWAN FARMER $82,000

Bryan Mayes
Corporate

A seemingly innocent thumbs-up emoji sent in a text message has led to unforeseen financial consequences for a farmer (Achter Land & Cattle Ltd., hereafter “Achter”) in Saskatchewan, Canada. What started as a gesture of support turned into an $82,000 liability due to a misinterpreted text message. This incident highlights the importance of clear communication in the digital age and the potential legal implications of seemingly innocuous messages.

WHAT IS THE DIFFERENCE BETWEEN AN INTEREST RATE AND ANNUAL PERCENTAGE RATE (APR)

WHAT IS THE DIFFERENCE BETWEEN AN INTEREST RATE AND ANNUAL PERCENTAGE RATE (APR)

Tracy Valko
Real Estate

When it comes to refinancing or taking out a mortgage, understanding the financial terms involved is crucial to making an informed decision. One common point of confusion is the difference between the advertised interest rate and the loan's annual percentage rate (APR). In this blog post, we will delve into the disparity between the interest rate and APR, why it exists, and how borrowers can use this information to compare loan options effectively.

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