GE Money Pulling Out of Canada

The global credit crisis has claimed another victim in the Canadian mortgage industry as General Electric Co. winds up its mortgage operations here.

After three years in the business, GE Money Canada said it will stop taking new mortgage applications tomorrow. It's the latest in a string of alternative lenders that have decided to scale back operations or close shop amid the credit crunch.
07-31-2008 10:14 More...

Good timing: Feds avoid Fannie-style mortgage freefall

Jim Flaherty can rightly roll out a new slogan - friend of the Canadian home buyer.

Go ahead, protest. The words might not ring true after Minister Flaherty's Finance Department moved this week to restrict terms on mortgages. But they are. Watching Freddie Mac and Fannie Mae's ongoing implosion in the United States, the government's move to curb excesses in the mortgage market looks farsighted.
07-17-2008 14:25 More...

10 do's and don'ts for getting an ideal mortgage

Here's the good news: More people than ever can buy a home.

Now for the bad: It's going to take a lot of patience, restraint and some careful planning to get there. That loan officer sitting across the table won't look kindly on the new Lexus you bought or the stack of credit card bills on the kitchen counter. And if you've only managed to put away $1,000 in savings by then, it'll be time to forget about the $300,000 waterfront property.
07-07-2008 10:53 More...