Robert and Marilyn Crawley asked TD Canada Trust for an increase in their $ 201,000 home equity line of credit in 2007. The credit application was approved, along with extra insurance coverage they say was not explained to them. “When we went to the branch that day, we were going to sign the paperwork...
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When you think of jobs that move offshore to countries with lower labour costs, information technology, call centres and manufacturing come to mind. But legal work? Some Toronto law firms and in-house lawyers are also delegating high volume, repetitive work to lawyers in countries like India and the Philippines. Contract reviews, drafting standard documents,...
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Paying off the mortgage is a family project for the Sharanewych clan of Etobicoke. Their goal is to ditch the debt in 14 years, not 25, by paying an extra $ 2,000 every month. “To find that money has been the biggest challenge,” Christine Sharanewych says of the lifestyle changes they’ve made for the...
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If I had to single out an investor’s number one dilemma it would be the “sell” decision. The decision to “buy” is much less complicated. All you need is some cash along with a compelling story and you’re in the game. Once you’re in the game you have many scenarios to cope with. What...
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The Brick is known for selling low-priced furniture in about 200 stores across Canada. Its salespeople vigorously promote a “blanket” warranty that covers everything that can go wrong for five years. But there are many holes in the blanket warranty, especially when it comes to bonded leather. This synthetic material, prone to cracking and...
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Vick Vij knows all about the challenges self-employed folks face when they try to get a mortgage. The Markham-based chartered accountant went through the arduous process a few years back. He also regularly deals with self-employed clients looking to purchase a home. “It can definitely be more complicated for them,” he says. Where mortgage...
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When you buy a house and sign up for a fixed-rate mortgage, you probably don’t ask about the cost of getting out early. But life is full of surprises — and if you have to sell or refinance before the mortgage term ends, you can be hit with a monstrous penalty. Take Douglas Clinton...
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Christina and Darryl George have a mortgage, but that doesn’t keep them from saving for their next one. The Georges live in a two-bedroom condo across from High Park. In the next couple of years, they hope to buy a house west of Toronto. They plan to use the equity they’ve already built up...
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OMAHA, NEB.—Billionaire Warren Buffett dispensed plenty of advice on investing and life during this weekend’s Berkshire Hathaway shareholders meeting. The wisdom Buffett and his investing partner Charlie Munger offer is part of what attracts more than 30,000 to the meetings each year. Here’s a sample of their insights: Buffett and Munger told shareholders that...
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Kathryn Woodcock likes to reserve her own airline flights on the Internet. While booking a complex itinerary this week, she learned that her credit card had been declined. “I knew I had bags of credit left, since I never carry a balance,” says Woodcock, an associate professor of ergonomics at Ryerson University’s school of...
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