There could be several reasons why one needs to acquire a mortgage but it is always wise if one thinks a hundred times before he/she goes in for it. This resolution should not be taken lightly but in fact it should be measured as an important issue which not only needs time but also intelligence before one progresses for it. One may get trapped for paying off the debts for the next 10 or 20 years or even more than that. So it is very essential that one needs a suitable guidance before taking the most important decision.

Each individual’s needs are different. Some people try to go in for the Lowest mortgage rates because Home Mortgage Rates is the easiest method to get loan from any foremost mortgage company. It is always recommended to read or get an correct information about all the terms and conditions before you can proceed with the legal paper work. This is a decisive phase and no one can deny the fact that these days recession has hit very hardly in the markets all over the world and so in aggravation or even due to various other grounds people may have to acquire mortgage to save themselves from the financial disaster and in this situation it is possible that many people may take the wrong decision. Well, there is no need to fret because out of the different rates of interest and conditions, what I think the best choice would be is to go in for the Mortgage rates Toronto which serves at its best with the lowest rates of interest. It would be easier to clear the debts if one opts to go for the Mortgage Rates Canada.

I have a good familiarity with the Affordable Home mortgage. They are truly very good advisors and they very well guide their clients to take the right decision even in the period of crisis. The Affordable Home Mortgage give their clients the complete financial support at a low cost which indicates that the person is tension free even in bad times.

http://www.realestaterounds.com/mortgage-rates-ontario-offer-their-clients-the-best-affordable-home-mortgage/

brought by Moishe Alexander, CFC Canadian Funding Corp CEO ]]> http://canadian-funding-corp-better-building.com/2009/07/17/mortgage-rates-ontario-offer-their-clients-the-best-affordable-home-mortgage/feed/ 0 http://canadian-funding-corp-better-building.com/2009/07/09/economy-slips-on-report-card/ http://canadian-funding-corp-better-building.com/2009/07/09/economy-slips-on-report-card/#comments Thu, 09 Jul 2009 14:11:15 +0000 admin http://canadian-funding-corp-better-building.com/?p=75 Canada has kept a ‘B’ average on economic performance during the global slump, but is idling near the back of the pack among its peer countries, according to the Conference Board of Canada.

A study released by the financial think tank yesterday ranks Canada 11th among the world’s 17 wealthiest nations for 2008, falling behind Norway, Switzerland, the Netherlands and Austria but ahead of Belgium, Germany and Japan.

Canada scored good grades for inflation and gross domestic product growth, but earned mediocre Cs in other key areas such as labour productivity, income per capita and unemployment.

‘NOT BAD NEWS’

“Given the current context, it’s not bad news,” said Glen Hodgson, senior vice-president and chief economist for the board. “In the short term it’s not bad, but don’t be complacent.

“We shouldn’t be satisfied to see our economy crawl back to 2% growth next year. There’s more we can do to create wealth in Canada rather than relying on a cheap dollar or rising commodity prices.”

Hodgson said Canada’s standing is based not on its ties to the U.S., but on domestic policy on productivity, labour markets and foreign investments. Canada could boost its showing with a national productivity strategy to become a more innovative economy, he said.

Norway rose to the top from third spot in the international report card, leading the group in income per capita and employment. Ireland took a big tumble, falling to the bottom from its previous top spot as it reels from a meltdown in the construction sector and real estate market.

Hodgson said the federal government helped buoy the economy with billions of dollars in stimulus spending, but called for a concrete plan to climb out of deficit as soon as the economy rebounds.

Alberta and the western provinces will clear the red ink relatively fast, but Ontario will find it tougher to balance the books and could grapple with a structural, long-term deficit, he predicted.

http://www.winnipegsun.com/news/canada/2009/07/07/10046156-sun.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

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.

“The increase in May is broadly based, encompassing both the singles and multiples segments,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre.

Housing starts are expected to improve throughout 2009 and over the next several years to gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year.

The seasonally adjusted annual rate of urban starts increased 11.1 per cent to 107,800 units in May. Urban multiple starts increased 11.1 per cent to 60,900 units, while urban single starts also moved up by 11.1 per cent to 46,900 units in May.

May’s seasonally adjusted annual rate of urban starts increased 22.0 per cent in Ontario, 16.8 per cent in the Prairies, 7.3 per cent in Atlantic Canada, and 3.3 per cent in Quebec. Urban starts declined 5.0 per cent in British Columbia.

Rural starts were estimated at a seasonally adjusted annual rate of 20,600 units in May2.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Canadian Funding Corporation reports that the Honourable Diane Finley, Minister of Human Resources and Skills Development Canada and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC); Linda Jeffrey, MPP for Brampton – Springdale, on behalf of the Honourable Jim Watson, Minister of Municipal Affairs and Housing; Peel Regional Chair Emil Kolb; Regional Councillor John Sanderson, and developer John D’Angelo of Martinway Contracting made the announcement today.

“The Government of Canada is committed to making affordable housing available in Ontario and across Canada for those who need it most,” said Minister Finley. “The creation of these units here in Brampton will provide seniors and singles access to safe, and affordable housing, helping them to build a stronger future.”

“The McGuinty government is committed to working with our partners to build more affordable housing for people in need,” said MPP Jeffrey. “The Region of Peel has been an enthusiastic and committed partner in the Canada – Ontario Affordable Housing Program, and we look forward to seeing the completion of this project, which will greatly benefit our entire community. “

”With the collective contribution of all levels of government, the developer and various corporate sponsors, we have been able to achieve a greater standard in affordable housing,” said Regional Chair Emil Kolb. “Chapelview is a significant project for the Region of Peel which we’re quite proud of as a building that is modern, accessible and environmentally sustainable.”

The Region and the City of Brampton also engaged in an $8.5 million joint partnership to add a municipal underground parking garage to the site. Parking will be available for Chapelview’s residents as well as for the public.

Once completed, this apartment building will provide safe, affordable housing for singles and seniors and is expected to be completed in late 2009. For more information, visit www.peelbuilds.ca

The $30.3 million project, including $5.8 million from the Canada – Ontario Affordable Housing Program, will be complemented by more than $3.8 million in municipal financial incentives.

The Canada – Ontario Affordable Housing Program comprises a commitment of $301 million from each of the two senior levels of government. In total, the federal, provincial and municipal governments will invest at least $734 million in the program, which will provide affordable housing for up to 20,000 households in Ontario.

Last fall, the Government of Canada committed more than $1.9 billion over the next five years to improve and build new affordable housing and to help the homeless. Canada’s Economic Action Plan builds on this with an additional one-time investment of more than $2 billion over two years in new and existing social housing and lending of up to another $2 billion to municipalities for housing-related infrastructure.

Summary

The Water Efficiency Section of the Water Services Division (Water Efficiency) and the Planning, Housing and Community Services Department of the Region of Waterloo tested 51 Caroma 3 L/6 L (0.6 gal./1.32 gal.) dual-flush toilets in two housing developments in Kitchener. The toilets saved 37 to 99 L (8.14 to 21.78 gal.) of water per day per housing unit. This is a yearly water and wastewater rate savings of $23.95 to $63.86 per unit (2004 rates), depending on location. The estimated payback is between 2.9 and 7.7 years depending on whether a 6 L, 13 L, or 20 L toilet is replaced. After reviewing the data, Water Efficiency recommended that the Region purchase dual flush toilets when they replace 13 L (2.86 gal.) or larger toilets if the unit purchase cost is the same as a 6 L(1.32 gal.) toilet. Water Efficiency also recommended the Region continue auditing its housing developments to target inefficient toilets for replacement to maximize water savings.

Background

The three objectives of the testing were to:

1. Measure the water savings, costs and benefits of installing dual-flush toilets in Region housing;

2. Inventory the number and efficiency of toilets in housing developments and help Housingstaff develop a replacement schedule;

3. Report project results.

Veritec Consulting Inc. monitored water savings. A team of University of Waterloo students, led by Jim Robinson, a professor of Environmental Studies, conducted pre and post-installation surveys and measured original toilet water usage.

Methodology

In 2003, Water Efficiency chose two metered buildings for the project: a 45-unit, adult-only apartment building and a six-unit, family-townhouse complex. An open house for residents explained the project and showed them the dual-flush toilets and how they work. Most of the residents felt comfortable with the project, but some were not sure that the toilets would clear the waste with one flush. Forty-two households—30 apartments and 12 townhouses—were surveyed. Two teams of students recorded the flush volumes of 42 toilets in both complexes. Observations were made about the general state of plumbing and whether leaks were evident. At the same time, a survey gathered information about the number of residents in each unit, number of hours a day residents were at home, how well their toilets flushed and what they liked and disliked about their toilets. A post-installation survey determined what residents liked and disliked about the dual-flush toilets. Veritec monitored toilet water usage with data loggers. The data loggers were installed on the water meters in both the apartment building and the townhouses. Two weeks of pre-installation and two weeks of post-installation data on toilet water use were collected in order to compare consumption rates.

Relevant Survey and Anecdotal Findings

The pre- and post-installation surveys showed that:

1. Dual-flush toilets are easy to install.

2. There were more 6 L (1.32 gal.) toilets already installed and functioning properly than originally anticipated.

3. The original toilets ranged from old, leaky 22 L toilets to properly functioning 6 L toilets.

4. Apartment residents felt their original toilets performed “average” to “well” while townhouse residents felt their original toilets performed “poor” to “average”.

5. Residents had varying perceptions as to how much water their original toilet used per flush.

6. Residents accepted dual-flush toilets, were comfortable with the use of the toilet (possibly due to advanced education) and were pleased with the toilet’s performance. There were no negative comments about the dual-flush toilets.

Water Savings and Cost-Benefit Analysis

Based on results of similar CMHC-sponsored dual-flush projects, the effective flush volume of the dual-flush toilet is 5.4 L (0.99 gal.), 1 when the number of times they are flushed at 3 L (0.66 gal.) versus 6 L (1.32 gal.) is factored in. The duty rate (number of flushes per day) as identified in the Residential End-use Study by the American Water Works Association is about five flushes per capita per day. The total cost for each dual-flush toilet was $244—a purchase cost of $189 and installation cost of $55. The 2004 Kitchener water–waste water user rate was $1.7739 per m3 (35.32 cu. ft.).

Townhouse Results

In the townhouse complex, the old toilets averaged 14.8 L (3.26 gal.) per flush. The average number of tenants per unit was 2.67. The results of the water demand monitoring in six townhouses were: Average pre-installation water demand was 419 L/unit/day (92.17 gal./unit/day). Average post-installation water demand was 320 L/unit/day (70.39 gal./unit/day). The savings was 99 L/unit/day (21.78 gal./unit/day) or 23.6%, 37 L/person/day (8.14 gal./person/day). This equals an annual savings of 36 m3 (1,271.33 cu. ft.) or about $63.86 per unit per year. With the total installed cost of $244 the payback period would be 3.8 years, or with the Region’s Toilet Replacement Program (TRP)2 rebate of $60, 2.88 years. Figures 1 and 2 are the pre- and post-water demand profiles obtained by data logging the water meter. Figure 1 gives weekday consumption and figure 2 weekend consumption. Water demands peak later in the morning and remain relatively constant throughout the day, indicating many of the tenants may spend a large portion of their time at home.

Apartment Building Results

In the apartment building, the old toilets averaged 9.92 L (2.18 gal.) per flush (some of the toilets were 6 L [1.32 gal.]) and the average number of tenants per unit was 1.18. The results of the water demand monitoring were: Average pre-installation water demand was 273 L/unit/day (60.05 gal./unit/day). Average post installation water demand was 236 L/unit/day (51.91 gal./unit/day). The savings was 37 L/unit/day (8.14 gal./unit/day) or 13.6%, 31.4 L/person/day (6.91 gal./person/day). This equals an annual savings of 13.5 m3 (476.75 cu. ft.) or about $23.95 per unit per year. With the total installed cost of $244 the payback period would be 10.2 years, or with the Region’s Toilet Replacement Program rebate of $60, 7.68 years. Since a number of the apartment toilets were 6 L, the savings would have been more substantial if only old, high-volume toilets had been replaced. As figures 3 and 4 show, water demands peak later in the morning and remain relatively constant throughout the day. There is very little difference in the weekday and weekend demand patterns. This indicates that a large portion of the tenants may spend most of their time at home.

Conclusions and Recommendations

Water savings from replacement of inefficient toilets with efficient models is a function of three factors: reduced effective flush volume, duty factor (that is, the number of flushes per day) and reduced leakage. The townhouses saved more water than the apartment building per unit because there were more tenants using each toilet and the average flush volume of the original toilets was greater.

Considering the research findings, Water Efficiency recommended that:

1. The Region use dual-flush toilets for retrofit replacement, if they can be purchased for under $200 each and if the toilets being replaced are 13 L (2.86 gal.) or larger.

2. Preference should be given to installing dual-flush toilets in high-use developments. This, along with the first recommendation, would costeffectively maximize water savings.

3. There should be an inventory and audit of the Region’s housing to determine and target the most-needed toilet replacements.

4. The Region should refer to the CMHC-sponsored Maximum Performance Testing of Popular Toilet Models Report (MAP Testing) for the purchase of any 6 L or dual-flush toilet. See www.cwwa.ca for updated reports.

5. The Region should provide educational material to residents before replacing their toilets with dual-flush toilets.