 I hope everyone had a pleasant holiday last month and are ready for 2011.
As I have mentioned in previous newsletters the Canadian government and The Bank of Canada have been concerned with the amount of debt Canadians are taking on while interest rates are at historic lows. In those newsletters, I recommended consolidating debt as a good idea for long term financial planning and continue to offer free one hour consultations.
The uncertainty of the global economy and the concern around record high levels of household debt (which is measured as a ratio of money owed vs. disposable income) is nearing a startling 150% as of the third quarter of last year. That level surpasses the debt held by American households, whose appetite for borrowing money helped stoke the financial crisis of a few years ago. As a result, the Canadian government has introduced new mortgage rules which will take effect March 18th of this year. Read further down for more details.
There's still time to consolidate debt, take advantage of the low rates, pay down debt and create savings at an accelerated pace. Call me to find out how and set up a private consultation.
Now that I've talked about how we can help ourselves, let's talk about how we can help others. My first paid job was selling high-end shoes while I was in University. That gave me my appreciation for good footwear, so you'll understand why I have chosen to support the Ron White Shoe Drive this winter. This is the time to get rid of those shoes that you don't wear anymore but are still in good condition. I will be collecting shoes until Feb 11th here at my office located at 1678 Bloor St. W, 4th floor. So come on down and drop off your gently worn shoes and I'll bring them in for you.
Michelle
Michelle Brienza, AMP (Lic # M0806298)
Senior Mortgage Agent
Lending Logic Financial Inc.(Broker # 11782)
Direct: (416) 410-5761 Fax: (416) 410-5761
www.michellemortgages.ca
michelle@michellemortages.ca
|
Your home is likely the largest one-time investment that you will ever make. What would happen to your family if you suffered a major disability or an untimely death? 
The Ron White Foundation kicked off the fifteenth year of Canada's largest shoe drive earlier this month.