How To Give Your Kids a Living Inheritance

General Angela Calla 14 Mar

One of the main ways a Reverse Mortgage is used to create family legacy is through a living inheritance, which the recipient often uses for a down payment. Parents can pass along their wealth now, when their kids need it most and without impacting their cashflow in retirement.   Living Inheritance – Gifted Down Payment […]

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Exploring Financial Options: Reverse Mortgages vs. Lines of Credit

General Angela Calla 14 Mar

As a top mortgage professional, I understand the importance of providing unbiased advice to consumers, helping them navigate through the plethora of financial options available. Today, I want to shed light on two popular choices: Reverse Mortgages and Lines of Credit.   Reverse Mortgages: A reverse mortgage is a unique financial product designed specifically for […]

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No Recession In Canada, As Q4 GDP Growth Rose 1%

General Angela Calla 6 Mar

Still No Recession In Canada Thanks to Huge Influx of Immigrants Real gross domestic product (GDP) rose a moderate 1.0% (seasonally adjusted annual rate), a tad better than expected and the Q3 contraction of -1.2% was revised to -0.5%. This leaves growth for 2023 at a moderate 1.1%. Monthly data, also released today by Statistics […]

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BoC Holds Rates Steady Waiting To See Further Declines In Core Inflation

General Angela Calla 6 Mar

The Bank of Canada Holds Rates Steady Until Core Inflation Falls Further Today, the Bank of Canada held the overnight rate at 5% for the fifth consecutive meeting and pledged to continue normalizing the Bank’s balance sheet. Policymakers remain concerned about risks to the outlook for inflation. The latest data show that CPI inflation fell […]

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B.C. Renter’s Tax Credit

General Angela Calla 5 Mar

Are you getting prepared to do your income taxes? If you are a renter and make under $80,000 there is a tax credit waiting for you. The nitty gritty is that if you make less than $60,000 you will get a $400 tax credit by filling out Form BC479 2023. This is the same form […]

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Changes in Property Transfer Tax expected April 1st

General Angela Calla 22 Feb

Property transfer tax exemptions While the province is aiming a new tax at would-be speculators, it’s also unveiling a tax break for first-time homebuyers and rental housing developers. As of April 1, 2024, the threshold for the exemption to the property transfer tax for first-time homebuyers is being lifted from properties costing half a million […]

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