Darcy Schanck Financial has created a great video on RRSP's for Canadians

New author Mr. Darcy Schanck has created a very applicable common sense guide to RRSP's.

Watch here http://youtu.be/wkrDwlk7bDQ

How To Lower Debt Payments

Homes in Canada are continuing to rise in value this year with an average house listing price gain of 0.08 to $391,820 according to The Canadian Real Estate Association.

This shows that people are building on value in their homes rather than using it to pay off "Bad Debt faster while increasing their lifestyle".  

There are some things to be avoided says Mr Schanck "After you consolidate your debts you should not continue to hold a balance on the high rate cards again".

Some helpful tips:

• Lower your limit to to a budget able amount
• Or simply get rid of your highest interest cards

"A few cards have an rate of interest of more than 20%+, which in my opinion should never be used" states Mr. Schanck. 

DMTN220 - Reopening

This bond settled on October 24, 2014:

• a CAD800 million Domestic bond reopening with a 3.45% coupon and a maturity date of June 2, 2045.

Darcy Schanck becomes an author!

Darcy Schanck of Darcy Schanck Financial is authoring a new financial book in Canada called "Bankers Never Die...They Just Lose Interest".

Here is an article showcasing the new release, and the benefits of investing in Ontario, Canada.

http://newswire.net/newsroom/pr/00086233-darcy-schanck-advises-invest-in-ontario.html

Enjoy!

Darcy Schanck 5 Signs You Need a Debt Professional

Darcy Schanck 5 Signs You Need a Debt Professional



Great piece on when you need a debt consolidation, or debt negotiator on your side.



Darcy Schanck lives in Mississauga Ontario and helps businesses; professionals and families across Canada better understand their financial options.

Darcy Schanck Financial
(416) 706-5741
dschanck007@gmail.com
http://darcyschanckfinancial.blogspot.com/
https://plus.google.com/u/0/109532260651929622629/about
https://www.youtube.com/user/DarcySchanckFinancil/about
http://www.linkedin.com/in/darcyschanckfinancial
http://www.pinterest.com/darcyschanck/
https://twitter.com/DarcySchanck
https://ssl.panoramio.com/user/darcyschanckfinancial
http://darcyschanckfinancial.wordpress.com
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Darcy Schanck - Hiring a Mortgage Broker in Canada, The Pros and Cons

 

Darcy Schanck Independent Financial Consultant

Darcy Schanck on Mortgage Brokers - Mississauga Ontario, Canada - 

Buying a home is an exciting and intimidating process at the same time. Although the location of your home is probably the foremost on your mind, you also need to consider the people that you will hire to help you. Selecting the professional that will help you with home buying is just as important as finding your dream home. One of the professionals that you need to hire is a mortgage broker.

Mortgage brokers are licensed mortgage experts that work on your behalf when it comes time to decide on the right mortgage for you. They are not lenders - just the middle person who guides you and helps connect you with the right lending institution. A broker almost always receives their fee from the lender (the bank, or credit union) meaning that their services are free for you.

If you think that it would be better to go directly to a bank or a mortgage lending institution, you may want to read about the pros and cons of hiring a mortgage broker in Canada first.

Pros

●       They have the expertise to help you find the best deal and negotiate for a lower rate on your behalf. As mentioned, they have undergone special education for this.

●       They have established a working relationship with lenders. You can benefit from this working relationship for a smoother and faster application process.

●       They have volume discounts. It is not unlikely that a mortgage broker will work with multiple borrowers at the same time. If you all secure a mortgage with the same lender, the broker may be able to negotiate for a lower rate or better terms for all of you.

●       They can provide you with options. Probably the best part of the service that you will get from a broker is saving you from having to go to different lenders. They can come to you with the rates and terms from different lenders and all you have to do is to decide which of them suits your requirements best. They can also provide their expert opinion about it.

●       They can connect you to lenders that will provide you the best loan rate despite a bad credit report. In case you have a bad credit score, you may find it hard to secure a mortgage with a low interest rate. While this cannot be guaranteed by the mortgage broker, they can still help hook you up with a lending institution that will serve your needs best.

●       They are generally not paid by the borrowers. The last benefit is you do not have to pay them anything. They earn their income from the commissions given to them by lenders.

Cons

●       They rely on commissions from the lenders. Just as this can be a benefit, this can also work against you. It might make you doubt the sincerity of their service being provided to you.

●       They may have preferential treatment to some lenders. If some lenders give higher percentage commissions, they might give them preference over other lenders that could have given you a better deal. That could mean you are not getting the complete options that you should have.

●       They can make recommendations that may be for the best interest of their commission rather than your financial situation. It is but natural for a person to be more loyal to the one providing their source of income.

You have to be careful when you are choosing the mortgage broker that will represent you. First of all, they have to be duly licensed for the province you are in. Secondly, you may want to ask for client references so you can see how past client relationships have worked out. Lastly, validate everything that the mortgage broker will tell you. That way, you can be assured that you are getting the right and complete information from them.

Darcy Schanck lives in Mississauga Ontario and helps businesses; professionals and families across Canada better understand their financial options.

Darcy Schanck Financial
(416) 706-5741
dschanck007@gmail.com

http://darcyschanckfinancial.blogspot.com/
https://plus.google.com/u/0/109532260651929622629/about
https://www.youtube.com/user/DarcySchanckFinancil/about
http://www.linkedin.com/in/darcyschanckfinancial
http://www.pinterest.com/darcyschanck/
https://twitter.com/DarcySchanck
https://ssl.panoramio.com/user/darcyschanckfinancial
http://darcyschanckfinancial.wordpress.com
http://darcyschanckfinancial.tumblr.com/

 

Darcy Schanck Gives Canadians Financial Advice in 10 Part Video Series

Darcy Schanck Financial

Darcy Schanck announces the upcoming release of his 10 part educational video series for Canadians.