19 Jun

Tornado in Ontario, how can this affect you?

General

Posted by: Drummond Team

Generally, damage to homes caused by hail or wind is covered. And this would include damage caused by flying debris or falling branches, ect. There generally would also be coverage for contents in your home that were damage as a result of water entering through openings caused by the wind.  Click here to read the full blog.

Info from the Insurance Bureau of Canada: http://www.ibc.ca/en/Home_Insurance/documents/brochures/Tornado%20brochure_EN.pdf

Contact your insurance broker for more information ­čÖé

12 Jun

OECD calls for Canada to shift mortgage risk from taxpayers to private-sector

General

Posted by: Drummond Team

OECD calls for Canada to shift mortgage risk from taxpayers to private-sector

Gordon Isfeld | June 11, 2014 | Last Updated: Jun 11 5:32 PM ET

OECD's concern is that already heavily indebted Canadian consumers might not be able to meet their loan payments, especially when interest rates begin to rise above the rock-bottom levels experienced in the recession.
 

OTTAWA • Despite aggressive moves by the federal government to limit consumers’ exposure to an overheated housing sector, a major global think-tank is warning Ottawa that even tougher measures are needed to protect taxpayers.

In particular, the government should gradually reduce its share of the mortgage-insurance market and transfer more of the risk to the private sector, the Organization for Economic Cooperation and Development said Wednesday.

 
Click here for the full article
12 Jun

10 tips for first time real estate investors

General

Posted by: Drummond Team

10 tips for first time real estate investors

If you plan to five into real estate as an investment do some research first.

If you plan to dive into real estate as an investment do your homework first.

Dreamstime

If you plan to dive into real estate as an investment do your homework first.

Many people consider investing in real estate as a way to build a nest egg and have tenants help you pay the mortgage. There are pros and cons to taking that leap, but if you do, here are 10 things to know.

Click here for the full article