According to statistics released by The Canadian Real Estate Association (CREA), actual (not seasonally adjusted) home sales, via the Multiple Listing Service(R) (MLS(R)) of Canadian real estate boards, totaled 147,351 units in the second quarter of 2009 – the fourth strongest quarterly sales figure ever. Up 1.4 per cent from the second quarterof 2008, this marks the first year-over-year increase in quarterly activity since the fourth quarter of 2007.

http://blog.buzzbuzzhome.com/2009/07/mls-canada-fourth-strongest-quarterly.html

reviewed by Moishe Alexander, CFC  Canadian Funding Corp CEO

Home foreclosure is a not the best situation to be in. Once the notices start coming and the phone starts ringing you can’t really keep hiding. Your going to hear from lots of people who claim that they can help you. These calls are from organizations that have their own motives and goals. In desperate times even a good sales pitch may sound like a miracle.

There are a number of people who are going to send mail or call. Most likely they were able to get your address or your number from the court system. Due to the legal nature of the process your information will be deemed as public and be published. This means anyone with internet access can find you. In some cases they may get your name from a list that was generated on the web…most of these lists go to investors/ investment trust companies.

The most common people or organizations that are going to give you call:

Swindlers/Con Men/Crooks

These are the ones you have to be aware of. (And there are a lot of them out there.) All of them offer promises and refer you to a chapter 13 attorney for collect a fee. In worse cases, they will take the deed of the house and force you to pay rent while leading you to believe that they can save your home and in the end you loose it all because they do nothing but take your “rent money” and skip town.

This is the most common problem you will face besides the actual foreclosure.

Mortgage brokers

They can help you by refinancing your property. However, these loans may have higher interest rates and closing costs than what you payed at the bank. Some may even charge you more to see how much you are willing to pay and take advantage of it. Not all brokers will rip you off. Over the last several years mortgage brokers have gotten the short end of the stick in the press. Shop around and ask family and friends for a referral if you decide to use a broker. (and just for the record..no I am not a mortgage broker)

Attorneys

This is your last resort. Most attorneys don’t really care about the situation you’re in or give you the attention you need.

Mortgage negotiators/Mortgage “Mod gods”

They negotiate repayment schemes with mortgage lenders. You can negotiate with the bank but in case it fails you can ask the help of a professional to get the plan approved. Some banks may impose a much more demanding plan and these professionals can get you a more favorable agreement.

Hard money lenders

These people are normally wealthy and are looking to loan you money, to cover your mortgage, at a higher interest rate. In some cases they will over to buy your house and lease to own it back to you…for a higher interest rate of course. (this may not be a bad option IF you can arrage something that works fr your financial position)

Mortgage/note holder

Your mortgage holder will call you to reinstate your house. This can be a good option depending on your situation. These are usually offered by mortgages backed by the government.

Whoever calls you or wherever the mail comes from be aware and think things through. You can stop a home foreclosure with the right options applicable for your situation. Do not throw in the towel if you don’t have to.

http://www.real-estate-blog.org/home-foreclosure-who-the-heck-is-calling-my-houseand-why/

brought by Moishe Alexander, CFC CEO

The good news? Canadian real estate is on a record pace in 2006.

The bad news? The third quarter numbers are down sharply from the second quarter of this year, and even down from the third quarter of last year. What does all this mean?

It basically means that Canada’s sizzling real estate market is still hotter than ever, but that it can’t keep up the incredible pace that it’s been on.

Breaking down the numbers, Canadian real estate is down 6 percent compared to the same quarter last year, and down 2.5 percent from the second quarter of this year, according to the Canadian Real Estate Association.

Overall, sales during the first nine months of this year are still up over the same nine months from last year, but things do appear to be slowing down.

The hardest hit cities during the third quarter slow down were Vancouver, home of the 2010 Winter Olympic Games, red-hot Calgary, which is still booming thanks to the local oil industry, and Toronto. Sales in Edmonton, Alberta and Hamilton, Ontario are actually up for the third quarter, helping to offset the losses in other cities.

Proving that the incredible Canadian real estate market is still on fire, year-to-date sales records were set in various cities all across the country in the third quarter. Montreal, Winnipeg, Ottawa, Saskatoon, Edmonton and Calgary all reported record sales for this year.

The average price for a home in Canada has been sky rocketing in recent years, with the total now at $258,000 (US dollars) up from $234.000 just in the last calendar year.

This real estate frenzy is being led by the province of Alberta and their incredible economy. The cities of Calgary and Edmonton, which reported their highest level of new real estate listings ever in the third quarter. Montreal and Toronto reported their second highest amounts of new listings for any quarter, as well.

The Canadian real estate market is still breaking records and making money despite the third quarter downturn. The breakneck pace simply couldn’t be sustained. But if you’re looking to move north of the border, do so knowing that it might cost you a few more loonies than you thought.

http://www.sexyinfotainment.info/2009/07/canadian-markets-hot-and-cold/

reviewed by Moishe Alexander, Canadian Funding Corp CEO

WASHINGTON (AP) — Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy’s road to recovery will be bumpy.

The Labor Department report, released Thursday, showed that even as the recession flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on a solid ground.

June’s payroll reductions were deeper than the 363,000 that economists expected.

However, the rise in the unemployment rate from 9.4 percent in May wasn’t as sharp as the expected 9.6 percent. Still, many economists predict the jobless rate will hit 10 percent this year, and keep rising into next year, before falling back.

All told, 14.7 million people were unemployed in June.

If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 16.5 percent in June, the highest on records dating to 1994.

Since the recession began in December 2007, the economy has lost a net total of 6.5 million jobs.

As the downturn bites into sales and profits, companies have turned to layoffs and other cost-cutting measures to survive. Those include holding down workers’ hours and freezing or cutting pay.

The average work week in June fell to 33 hours, the lowest on records dating to 1964.

The worse news: as some economists predicted, the stimulus package was too small to affect the “real” economy – you know, the one you and I live in? – in any significant way. Sounds like those who urged Obama to think large and visionary (a la FDR’s Public Works Administration) really did have the right idea:

Reporting from Washington — Even as the nation’s economy begins clawing its way out of the worst recession in 60 years, there are growing signs that this recovery could come with an unsettling twist: The wheels of commerce may begin to turn again without any substantial boost in jobs.

Not only is the national unemployment rate, now 9.4%, likely to climb into double digits later this year, but it is also expected to remain there well into 2010, economists say. That would prolong the misery of the unemployed, squeeze retailers and other businesses, and add millions of dollars in government costs and lost productivity. It could even threaten the recovery itself.

Though it’s common for the jobless rate to keep climbing for a time after economic output turns positive, the aftermath of the last two downturns, in 1990-91 and 2001, introduced the idea of a “jobless recovery.” Even though the economy improved, many unemployed workers discovered that jobs as good as the ones they’d lost were almost impossible to find.

This time, many economists say, there are new factors that could make the problem worse. Many more layoffs in this recession have been permanent, not temporary.

http://crooksandliars.com/susie-madrak/economists-say-signs-are-there-anothe

reviewed by Moishe Alexander, CFC CEO

As Canadian Funding Corporation’s valuation consultant, Jan Luisterman’s job is to ensure that all projects are funded based on an equitable value.