Page 13 of 16 « First<1112131415>Last »
Topic Options
#10323568 - 09/19/22 09:30 AM Re: dat real estate v.2021 [Re: A2B-Lexus]
SuPeR-MaRiO Offline
Post Master Sr


Registered: 06/28/01
Posts: 6161
Loc: Toronto, Ontario
What's the feedback from those with variable mortgages? Gonna ride it out? Did you lock in?
Top
#10323613 - 09/19/22 10:50 AM Re: dat real estate v.2021 [Re: SuPeR-MaRiO]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
I have 2 on variable, riding it out.
Top
#10324004 - 09/19/22 11:15 PM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
Post Master Supreme


Registered: 04/19/01
Posts: 45550
Loc: Raptors Land
I went with fixed when I moved to my new place with a "big" mortgage 2.5 years ago. Not sure what it will look it at renewal but I am definitely going to ride out the term until the very last day.
Top
#10324068 - 09/20/22 08:56 AM Re: dat real estate v.2021 [Re: A2B-Lexus]
SuPeR-MaRiO Offline
Post Master Sr


Registered: 06/28/01
Posts: 6161
Loc: Toronto, Ontario
I have my mtg split into two. One is fixed the other is variable.
Top
#10324126 - 09/20/22 10:33 AM Re: dat real estate v.2021 [Re: SuPeR-MaRiO]
furball Offline
Post Master Sr


Registered: 09/24/03
Posts: 9496
Loc: Toronto, ON
For VARIABLE rate mortgates, who/how/when do you figure out if the regular payment (monthly, bi-weekly, etc) stays the same for rate hikes, or goes up?

Never knew any of this ....

All I know was, way back on my first home in 2014, I had CIBC 5 yr variable closed, and the monthly payment amount was the same; just the amount that went to interest vs principal changed? (Then again, if anything, the rates went down, not up, like how it is now...)


Edited by furball (09/20/22 10:42 AM)

Top
#10324152 - 09/20/22 11:09 AM Re: dat real estate v.2021 [Re: furball]
SuPeR-MaRiO Offline
Post Master Sr


Registered: 06/28/01
Posts: 6161
Loc: Toronto, Ontario
I believe it depends on the lender. Some will keep your payments the same and like you said the amount that goes towards the principal will change. Other lenders will increase/decrease your payments as the variable rate changes.
Top
#10324193 - 09/20/22 12:09 PM Re: dat real estate v.2021 [Re: SuPeR-MaRiO]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
TD/BMO/RBC payment stays the same, less goes into principal. Once entire payment is interest you hit what's called a trigger rate, this is when your payment increases. With all the rate hikes I am close to hitting the trigger rate, if we have another 50bps i will hit it, then need to add a couple hundred so you aren't negative amortizing your mortgage.

CIBC has both, payment stays the same or flexes with rates...the rest of the banks and monoline lenders they jack up variable payment with every rate hike.

Top
#10325659 - 09/23/22 08:45 AM Re: dat real estate v.2021 [Re: Risky Business]
nfscheats Offline
Post Master Jr


Registered: 06/02/01
Posts: 1798
Loc: Somewhere cold
Must be nice for the banks if rates go up and your payment stays the same, that means the term of your loan would extend

Here in Australia when a rate goes up, your payment goes up to include the additional interest. Would need to agree to a term change before the bank did it

In Canada you can negatively amortize your loan, really?
_________________________
2002 Honda Jazz VTi / silver / 5speed
2000 Honda Civic SiR Hatch / red / 5speed
http://www.nfscheats.com

Top
#10325830 - 09/23/22 12:06 PM Re: dat real estate v.2021 [Re: nfscheats]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
Only some banks, the reason you can do this is because our loan terms are usually 5 years, so at renewal you will get a much higher renewal to keep your amort. In the US their term loans are way longer, maybe it's the same case in Australia.
Top
#10328013 - 09/28/22 09:54 AM Re: dat real estate v.2021 [Re: Risky Business]
OracerO Offline
Post Master Sr


Registered: 10/07/02
Posts: 3949
Loc: GTA
what the heck, Risky a realtor now?

I thought you were king cannibis ??

Edit: Risky providing some good info in this thread.


Edited by OracerO (09/28/22 10:00 AM)

Top
#10328580 - 09/29/22 05:23 AM Re: dat real estate v.2021 [Re: OracerO]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
cannabis business is sold

re was a side hustle, until it wasn't

Top
#10328624 - 09/29/22 08:31 AM Re: dat real estate v.2021 [Re: Risky Business]
OracerO Offline
Post Master Sr


Registered: 10/07/02
Posts: 3949
Loc: GTA
 Originally Posted By: Risky Business
cannabis business is sold

re was a side hustle, until it wasn't


Damn so much has changed. now you a YouTuber, no more oval faces.

Top
#10328760 - 09/29/22 10:28 AM Re: dat real estate v.2021 [Re: OracerO]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
^ it's temporary.

The end goal is to have enough referral business and then I am shutting all that shit down. Can't help it though, it works well \:D

Top
#10329417 - 09/30/22 11:33 AM Re: dat real estate v.2021 [Re: Risky Business]
furball Offline
Post Master Sr


Registered: 09/24/03
Posts: 9496
Loc: Toronto, ON
I don't know much about this, but I'm reading about the pyramid scheme aka eXp Realty, and the residuals + stock they're getting, and I'm hearing one person has like $12M annually, passive income, thru this scheme .... damn

 Originally Posted By: Risky Business
The end goal is to have enough referral business

Top
#10329497 - 09/30/22 01:12 PM Re: dat real estate v.2021 [Re: furball]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
That person is not a realtor, they are just a recruiter.

Anyway, the exp story is going to go down as a great case study.

Top
#10332265 - 10/06/22 09:57 AM Re: dat real estate v.2021 [Re: Risky Business]
Screamin Type ARGH! Offline
High Value Poster
Post Master Supreme


Registered: 02/20/01
Posts: 47784
Loc: T.O. - Canaduh
market seems to have stabilized (see...still over priced but whatever )
_________________________

"Ban low performance drivers, not high performance cars"

Top
#10332304 - 10/06/22 10:20 AM Re: dat real estate v.2021 [Re: furball]
OracerO Offline
Post Master Sr


Registered: 10/07/02
Posts: 3949
Loc: GTA
 Originally Posted By: furball
I don't know much about this, but I'm reading about the pyramid scheme aka eXp Realty, and the residuals + stock they're getting, and I'm hearing one person has like $12M annually, passive income, thru this scheme .... damn

 Originally Posted By: Risky Business
The end goal is to have enough referral business


When I see EXP or Keller Williams. I'm like Brah .....

Top
#10336200 - 10/13/22 12:23 PM Re: dat real estate v.2021 [Re: OracerO]
Screamin Type ARGH! Offline
High Value Poster
Post Master Supreme


Registered: 02/20/01
Posts: 47784
Loc: T.O. - Canaduh
https://nationalpost.com/news/canada/the...e-else-on-earth

NO WAI?!
_________________________

"Ban low performance drivers, not high performance cars"

Top
#10337297 - 10/15/22 07:35 AM Re: dat real estate v.2021 [Re: Screamin Type ARGH!]
c2k Moderator Offline
Post Master Supreme


Registered: 05/21/00
Posts: 19296
Loc: Wiesloch-Walldorf, Germany
nothing about the "brampton loan" being exploited?

https://www.cbc.ca/news/business/marketplace-mortgage-fraud-1.6614132
_________________________
Who cares

Top
#10337470 - 10/15/22 06:24 PM Re: dat real estate v.2021 [Re: c2k]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
There was a lot of stuff left unsaid in that docu, one of my mortgage guys was part of that docu and was interviewed. Interviewing him on Monday and will post on YT about what the docu got right and what was missed.

he is now getting hate mail from other mortgage people for helping the media expose the fraud. This shit been around for like 15 years.

Top
#10337673 - 10/16/22 01:53 PM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
Post Master Supreme


Registered: 11/05/99
Posts: 26897
Loc: Toronto, ON
This is nothing new. Last big spike with mortgage fraud was during the 2017 fiasco.
_________________________

'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr

Top
#10337869 - 10/17/22 08:06 AM Re: dat real estate v.2021 [Re: Hatorade]
Screamin Type ARGH! Offline
High Value Poster
Post Master Supreme


Registered: 02/20/01
Posts: 47784
Loc: T.O. - Canaduh
it's fucked how the industry gets away with so much, oh wait so do the banks...oh wait, the gov does fuck all to step in where it matters, rich get richer meanwhile everyone else gets bent over
_________________________

"Ban low performance drivers, not high performance cars"

Top
#10337875 - 10/17/22 08:47 AM Re: dat real estate v.2021 [Re: Screamin Type ARGH!]
Simon_the_Pieman Offline
Post Master Sr


Registered: 08/13/01
Posts: 9474
Loc: The A
 Originally Posted By: Screamin Type ARGH!
rich get richer meanwhile everyone else gets bent over


easy fix is to just get rich man. cmon lfg.
_________________________
"I'd love it if we did it... but I guess I'm a big skeptic on Canadians because so many are retarded as fuck." - 355-Si, 2020

Top
#10338499 - 10/18/22 05:14 AM Re: dat real estate v.2021 [Re: Simon_the_Pieman]
c2k Moderator Offline
Post Master Supreme


Registered: 05/21/00
Posts: 19296
Loc: Wiesloch-Walldorf, Germany
 Originally Posted By: Simon_the_Pieman
 Originally Posted By: Screamin Type ARGH!
rich get richer meanwhile everyone else gets bent over


easy fix is to just get rich man. cmon lfg.


nah, that's too hard. just get a sugar mama or daddy whichever route you wanna get rich faster.
_________________________
Who cares

Top
#10353026 - 11/13/22 09:20 PM Re: dat real estate v.2021 [Re: c2k]
furball Offline
Post Master Sr


Registered: 09/24/03
Posts: 9496
Loc: Toronto, ON
New Toronto Vacant Home Tax 2023.

https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax

Top
#10353086 - 11/14/22 06:21 AM Re: dat real estate v.2021 [Re: furball]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
lol another useless policy
Top
#10353146 - 11/14/22 09:22 AM Re: dat real estate v.2021 [Re: Risky Business]
furball Offline
Post Master Sr


Registered: 09/24/03
Posts: 9496
Loc: Toronto, ON
Where's the youtube video on this

Waiting for the whole 'on-site with Bob, who's a homeowner, and let's see what his thoughts are on this new legislation'

<Selfie pans to a black circle covering Bob's face, voice altered digitally>


Edited by furball (11/14/22 09:24 AM)

Top
#10362872 - 12/05/22 11:08 AM Re: dat real estate v.2021 [Re: furball]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
Things getting nasty

Put in an offer 2 weeks ago on a house in woodbridge, was at absolute max of client budget but they were adamant. Had financing condition, couldn't get favourable financing, deal not going through and sellers wouldn't sign a mutual release to release their deposit.

Client can't sleep, shitshow, a few sternly worded letters and a litigator on dial we got the money back, but people are getting nasty.

Top
#10362917 - 12/05/22 12:38 PM Re: dat real estate v.2021 [Re: Risky Business]
Screamin Type ARGH! Offline
High Value Poster
Post Master Supreme


Registered: 02/20/01
Posts: 47784
Loc: T.O. - Canaduh
 Originally Posted By: Risky Business
Things getting nasty

Put in an offer 2 weeks ago on a house in woodbridge, was at absolute max of client budget but they were adamant. Had financing condition, couldn't get favourable financing, deal not going through and sellers wouldn't sign a mutual release to release their deposit.

Client can't sleep, shitshow, a few sternly worded letters and a litigator on dial we got the money back, but people are getting nasty.


wow...eh? ppl still going for the homerun in these conditions? dafuq? buyer should have chilled out. was there a way to know/confirm with the sellers they may keep the deposit?? that would have prob stopped buyer from diving in.

but yeah fuck dem sellers not returning deposit jfc. i'd be at their front door 24/7 asking for my money back lmao.
_________________________

"Ban low performance drivers, not high performance cars"

Top
#10363494 - 12/06/22 04:05 PM Re: dat real estate v.2021 [Re: Screamin Type ARGH!]
SuPeR-MaRiO Offline
Post Master Sr


Registered: 06/28/01
Posts: 6161
Loc: Toronto, Ontario
Another rate hike incoming? Possibly tomorrow?
Top
#10363529 - 12/06/22 05:20 PM Re: dat real estate v.2021 [Re: SuPeR-MaRiO]
Screamin Type ARGH! Offline
High Value Poster
Post Master Supreme


Registered: 02/20/01
Posts: 47784
Loc: T.O. - Canaduh
.25 to .5 yeah

cucked, the increases are barely helping and inflation is higher than they say/think. but now HOPEFULLY it'll slow and well...2023 onwards they said they'll hold steady where we are now re. rates. when they'll come down is anyone's guess. the central banks and gov caused it and now we pay for it...lovely. they can't keep raising...i hope we're not too fargone because if so, 2023 is gonna be bad and recession in full swing.
_________________________

"Ban low performance drivers, not high performance cars"

Top
#10364742 - 12/09/22 07:39 AM Re: dat real estate v.2021 [Re: Screamin Type ARGH!]
c2k Moderator Offline
Post Master Supreme


Registered: 05/21/00
Posts: 19296
Loc: Wiesloch-Walldorf, Germany
let it rise!
_________________________
Who cares

Top
#10364868 - 12/09/22 10:20 AM Re: dat real estate v.2021 [Re: c2k]
Big Tasty Offline
Post Master Supreme


Registered: 02/10/02
Posts: 19772
Loc: Toronto
Anyone else get the letter from the city regarding Vacant Home Tax?

https://www.toronto.ca/services-payments/property-taxes-utilities/vacant-home-tax/

All residential property owners in Toronto will be required to submit a declaration of their property’s occupancy status for the previous year. The deadline to declare a property’s 2022 occupancy status is February 2, 2023. The online declaration portal will open in mid-December 2022.


An annual tax will be levied on vacant Toronto residences, payable beginning in 2023.

A property is considered vacant if it has been unoccupied for more than six months during the previous calendar year or is otherwise deemed to be vacant under the bylaw PDF.

The goal of the City of Toronto’s Vacant Home Tax (VHT) is to increase the supply of housing by discouraging owners from leaving their residential properties unoccupied. Homeowners who choose to keep their properties vacant will be subject to this tax.

Top
#10367622 - 12/16/22 01:27 PM Re: dat real estate v.2021 [Re: Big Tasty]
c2k Moderator Offline
Post Master Supreme


Registered: 05/21/00
Posts: 19296
Loc: Wiesloch-Walldorf, Germany
are condo sales slowing in the downtown core? Are the prices on a decline?
_________________________
Who cares

Top
#10367629 - 12/16/22 01:45 PM Re: dat real estate v.2021 [Re: c2k]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 45122
Yes and Yes
Top
Page 13 of 16 « First<1112131415>Last »


Moderator:  c2k, LNXGUY, TheRealCSnapper, Professor Paki 
Hop to:
Shout Box

CSi Sponsors


ClubSi.com Shirts
ClubSi-Shirts
GameStop
Black-Friday Specials
Big Brake Kits
StopTech.Sale BBK Clearance
Brake Kits
Buy Brake Kits
EBC Brake Kits
EBC Brake Kits
BuyBrakes
Brake Kits-Pads & Rotors Sets
StopTech Brake Kits
StopTech
StopTech NZ
StopTech
StopTech Australia
StopTech
Hawk Brake Pads
Hawk Brake Pads
Samys Camera
GoPros, Cameras, Gear
Brake Specials Near Me
Brake Specials Near Me
Brake Pad Coupons
Coupon Code "hondafetish"
Porsche Brakes
Porsche Brake Upgrades
2-Piece Rotors-Civic Type-R
2-Piece Civic Rotors
Advertisement

| Brake Pads | | How To Change Brake Pads | | Drilled Slotted Brake Kits Cheap | EBC Brake Kits | Performance Brake Kits | Brake Specials Near Me | How To Replace Brake Pads