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Toronto General Practice Law Blog

How to Stress Test Your Mortgage?

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I was thinking to buy a house, and I have so much thinking and planning to consider. I need to assess myself if I could afford it and layout all the possible worst-case scenario in case something happened due to a loss or unforeseen expenses. It is like gearing-up when it is cloudy and buying travel insurance when considering a long trip or vacation. It is the same way taking a mortgage or real estate.

Filipinos defrauded by a woman from Oshawa of more than $200,000

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The Canadian Press posted last October 19, 2018, about the Oshawa woman who has been accused of defrauding Filipinos of over $200,000CAD. She posed as an agent of a fictional Government Express Entry Compensation Program.

Three Things Every Home Buyer Should Know

Buying a home can be an exciting time – whether it’s your first home, or moving into another property. Choosing paint colours, picking your furniture, and deciding what you’re going to bring into your new home can be a lot of fun. However, before you can fantasize about how you will make a new home yours, you need to find and purchase the property.

The real estate market can be tricky to interpret. Sometimes real estate gurus contradict themselves on how well the market is doing, or what trends you should be aware of when buying a home. The best thing to do in this case is conduct some thorough research. Below are three key areas you can investigate to help prepare yourself for the purchase you’re about to make.

1,000+ of passports were returned to Philippine Consulate in Dubai.

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Philippine Consul-General Official Paul Raymond Cortes issued a Statement last August 13, 2018, saying that more than thousands of Philippine Passports were turned over by Dubai and Northern Emirates Immigration Officials to the Philippine Consulate.

News Release from the Canadian Immigration Office

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Ottawa, August 9, 2018

At Immigration, Refugees and Citizenship Canada (IRCC), we know that applying to immigrate to Canada is a life-changing event, and we understand how frustrating it could be when applications take longer than expected. That's why we have made changes to improve the experience for some permanent resident clients.

 

Mortgage Stress Test Expanded To More Homebuyers

Until this year, homebuyers needed to buy mortgage insurance if they could only afford to pay between five and 20 per cent of the price of the property in their down payment. Only these homebuyers had to pass the stress test before they would get a mortgage. Now the rules have changed.

After January 1, almost all homebuyers began taking stress tests to see if they could afford the mortgage payments to buy a condo or house. Failing the test means that many homebuyers must buy a smaller home than they wanted – or not get a mortgage from banks and credit unions.

Why a Legal Profession?

"Why a legal profession?" Believe it or not, this is just one of the most heart trembling questions to get in acquiring a job interview in a law office. The "why" itself is hard to reason out, how much more with the elaboration of legal profession with it. Honestly, I, myself asked the same question before. Why would I stress myself out with the legal matters of other people? Why would I go through the hardships of memorizing, familiarizing and studying the depth of laws and its legal procedures? If I were to answer this before working on a law firm, I might think otherwise, and just quit and change my chosen field of study. However, if the question popped up now, my answer would be simple. It is to help others in need while I am educating myself. I believe that this very reason will make me a different, but a better person.

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