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Tuesday, 28 August 2012

Calgary housing market among Canada’s most affordable: RBC

CALGARY — The Calgary-area housing market remains one of the most affordable in Canada, according to a report released today by RBC Economics Research.
The latest Housing Trends and Affordability Report said the local market has enjoyed the best of all worlds recently: stronger home resales and home building, moderately rising prices, and attractive and improving affordability.  Read more...

Thursday, 2 August 2012

Is mortgage insurance really that important?

When it comes to the long list of important things you have to think about when buying a new home, insurance for your mortgage is likely no where near the top. But an unexpected accident, illness or death can quickly change all that.

What if this happened to you?
There’s a common misconception that only middle-aged or older people need to think about insurance. Unfortunately our claims files tell some eye-opening stories about:
-a young couple, both killed in a freak accident when a bridge collapsed;
-a young mother killed by a brain aneurysm, just months after giving birth to twins;
-another mother killed, trying to protect her disabled son from being hit by a car.

Sure, once you are older it is generally true that there are more risks associated with your health. But young people also tend to have fewer assets than older ones. That means there are no extra resources to draw on if, all of a sudden, a regular source of income is gone.

Don’t save now, only to pay a lot more later
Anyone who has purchased a home has probably been there. You start out by setting a budget, but then you find the perfect house that is just a little bit beyond. You can’t say “no” to your dream for only $10,000 or $20,000.

Then, you find out that property taxes are higher than you expected, and that’s only the beginning. By the time you get to the point of finalizing your mortgage, you’re more than a little nervous about the new financial commitment you’re about to take on.

It’s only natural to want to avoid unnecessary costs at a time like this. But insurance is not “unnecessary”- especially in a situation where you feel like you’ll be financially stretched. If you’re going to have to work hard to make ends meet now, what would happen if one of the family breadwinners were to die or become disabled? How would you continue to meet the mortgage payments with only one income, or with none?

Your family’s dream home could be that again- just a dream.

About UsMortgage Protection Plan (the “Plan”) is an insurance program designed to provide life and disability protection to the clients of mortgage brokers. The Plan is underwritten by The Manufacturers Life Insurance Company (the “Insurer”) and administered and managed by Benesure Canada Inc. and its appointed agents.
Role of Your Mortgage BrokerYour Mortgage Brokers role is to give you our pre-printed information and to have you completed an application form. If you require advice or additional information about Mortgage Protection Plan, please call us.