(NC)—While they are often cause for celebration, planning a home purchase and a move are often cited as some of life's most stressful events. Many other life moments have built-in backup to help you along the way: weddings have planners, and vacations offer itineraries and tour guides. It only makes sense, that something as important as a home purchase come with planners and checklists to keep us organized and in control every step of the way.
My Home Planner, found at www.homeownership.ca, is a new and useful online tool from Genworth Financial Canada that helps make sense of the homebuying process. It's like having a constant companion on your journey to homeownership – one with a great memory and a knack for details. An interactive calendar shows you your roadmap at a glance and serves as an official countdown to when you close the deal and move in.
My Home Planner does the memory work for you – keeping track of tasks and decisions that need to be handled on the way to your new home. It even generates email notifications to remind you of key details so that you can stay focused on the big picture.
Other free resources include:
• A personalization feature that populates your Home Planner calendar with both standard and customized homebuying tasks
• The ability to save your own Home Planner to your desktop or laptop, and print it for easy reference
• Interactive tools like “What Can I Afford” and “Rent vs. Buy” calculators
• A library of articles from industry experts, filled with tips and advice about the homebuying process
Why go it alone? Tools like My Home Planner from Genworth Financial Canada can help you understand what homeownership looks like, plan your journey and close the deal knowing that you haven't missed a single step along the way.
Source: www.newscanada.com
Tuesday, August 25, 2009
Tuesday, August 11, 2009
Is your income at risk? Your home doesn't have to be.
(NC)—When life delivers an unexpected blow – like a serious illness, a marital separation or loss of employment – it can be difficult to stay on track. Sometimes, it can even put your ability to make your mortgage payments at serious risk.
This scenario shouldn't mean that your home, and everything you've worked so hard to achieve, is in jeopardy. Often, there is help available if you know where to look.
Many Canadian homeowners – particularly first-time homebuyers – carry mortgage default insurance on their homes – in fact over 45% do. These individuals may have access to assistance programs to help modify their loans should they experience a temporary financial hardship.
For example, if you have a Genworth-insured mortgage, you can take advantage of their Homeowner Assistance Program at no extra cost. The program enables you to work with Genworth and your lender to establish alternative arrangements so you can stay secure in your home when times get tough. It's for Canadians facing a variety of difficult situations, including:
• Work challenges, such as job loss, a strike, or even reduced income
• Health issues, such as injury or illness to yourself or a family member
• Life developments, such as marital separations or a death in the family
You also have the ability to review your options from the privacy of your own home by using the Homeowner Assistance Evaluator, a new self-assessment tool that can be accessed online. It helps concerned homeowners better assess their financial situation and provides potential solutions to help you stay in your home.
With programs like this available to homeowners, a little bit of education and effort can make the difference between a negative outcome, and finding help when you need it the most.
You can assess your own situation online at www.HomeownerAssistance.ca or you can contact your lender.
Source: www.newscanada.com
This scenario shouldn't mean that your home, and everything you've worked so hard to achieve, is in jeopardy. Often, there is help available if you know where to look.
Many Canadian homeowners – particularly first-time homebuyers – carry mortgage default insurance on their homes – in fact over 45% do. These individuals may have access to assistance programs to help modify their loans should they experience a temporary financial hardship.
For example, if you have a Genworth-insured mortgage, you can take advantage of their Homeowner Assistance Program at no extra cost. The program enables you to work with Genworth and your lender to establish alternative arrangements so you can stay secure in your home when times get tough. It's for Canadians facing a variety of difficult situations, including:
• Work challenges, such as job loss, a strike, or even reduced income
• Health issues, such as injury or illness to yourself or a family member
• Life developments, such as marital separations or a death in the family
You also have the ability to review your options from the privacy of your own home by using the Homeowner Assistance Evaluator, a new self-assessment tool that can be accessed online. It helps concerned homeowners better assess their financial situation and provides potential solutions to help you stay in your home.
With programs like this available to homeowners, a little bit of education and effort can make the difference between a negative outcome, and finding help when you need it the most.
You can assess your own situation online at www.HomeownerAssistance.ca or you can contact your lender.
Source: www.newscanada.com
Tuesday, August 4, 2009
Water heaters: rent or buy?
(NC)—In many parts of Canada, homeowners have the option of either renting or buying a new water heater when their machine breaks down. So which option is best for your circumstances?
Renting or leasing offers the convenience of small monthly payments, as well as access to fast, 24-hour service, 365 days a year. Installation is easy and convenient, and removal of the old water heater is part of the job. On the other hand, there may be limits on the type, size and efficiency of water heaters available through lease or rental arrangements.
Add up all the monthly rental payments over the years and you may find that buying a water heater will be cheaper in the long run. Buying outright can also give you access to a broader range of water heating technologies and suppliers, since systems can be purchased from utilities, contractors or through retail outlets.
In either scenario, it's important to select the most energy-efficient model that meets your household's needs. After all, you use hot water in the home every day – often lots of it.
To make an energy-wise choice, look for the ENERGY STAR symbol on the product, its packaging or literature. ENERGY STAR qualified water heaters use at least five percent less energy than conventional equipment, and that can translate into significant cost savings over the life of the equipment.
Whether to rent or buy is a personal choice, but always insist on ENERGY STAR qualified equipment to keep operating costs to a minimum and reduce energy-related greenhouse gas emissions. For more information, visit energystar.nrcan.gc.ca or call 1-800-OCANADA.
Source: www.newscanada.com
Renting or leasing offers the convenience of small monthly payments, as well as access to fast, 24-hour service, 365 days a year. Installation is easy and convenient, and removal of the old water heater is part of the job. On the other hand, there may be limits on the type, size and efficiency of water heaters available through lease or rental arrangements.
Add up all the monthly rental payments over the years and you may find that buying a water heater will be cheaper in the long run. Buying outright can also give you access to a broader range of water heating technologies and suppliers, since systems can be purchased from utilities, contractors or through retail outlets.
In either scenario, it's important to select the most energy-efficient model that meets your household's needs. After all, you use hot water in the home every day – often lots of it.
To make an energy-wise choice, look for the ENERGY STAR symbol on the product, its packaging or literature. ENERGY STAR qualified water heaters use at least five percent less energy than conventional equipment, and that can translate into significant cost savings over the life of the equipment.
Whether to rent or buy is a personal choice, but always insist on ENERGY STAR qualified equipment to keep operating costs to a minimum and reduce energy-related greenhouse gas emissions. For more information, visit energystar.nrcan.gc.ca or call 1-800-OCANADA.
Source: www.newscanada.com
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