What does being pre-qualified or pre-approved for a mortgage mean to a buyer? There are differences between being pre-qualified or pre-approved for a mortgage and it can affect your ability as a home buyer, as well as the transaction itself. Pre-qualifying for a mortgage typically doesn’t include an analysis of your credit history or an … Read more
A mortgage is a loan used to buy a property. As with all loans, how much interest you pay depends on several factors. This link will introduce you to What is a mortgage? For advice on mortgages, the video, “A guide for mortgage virgins” offers invaluable tips. Watch and listen to Doug Melville, Canada’s Ombudsman for Banking Services and … Read more
How do I protect my property against loss or damage? What insurance do I need for my home? There are specific insurance packages for homeowners, tenants, and condo owners. Most cover these three things: 1. The building(s) on your property – Includes your house and other buildings like a separate or detached garage, or workshop. … Read more
Leaky Condo reconstruction costs have soared past $3 billion so far, and that doesn’t include the indirect societal costs borne by British Columbians that nobody is tracking. Since only about 20 percent of leaky condo owners met the government imposed “means test” of the Homeowner Protection Office loan program, the $670 million in HPO victim … Read more
Leaky condo assistance dries up, Liberals say program is obsolete The provincial government is scrapping a program that for the past decade has provided leaky-condo owners with interest-free loans to pay for repairs By Derrick Penner The Vancouver Sun – August 1, 2009 Housing and Development Minister Rich Coleman said the loan program has more … Read more
This is not the place to cut corners in construction When I read this today it reminded me of what became clear during the Barrett Commission hearings over a decade ago in British Columbia. The many engineering assessments being conducted on leaky condos were turning up dozens, and sometimes hundreds, of building code violations. At one … Read more
Interfering with the rights of a neighbour… “My neighbour BBQ’s right beside my bedroom window which causes my entire suite to fill up with smoke when it is used. I’ve tried speaking to them and I’ve asked if they would consider moving it. The last time they sent me a text message advising they … Read more
After reading this: Fire chief cautions against changes – Stewart said. “These risks have all been studied. All of these issues can be managed and ultimately it will come down to a public policy decision as to whether or not we manage that issue in our community, not whether or not these buildings are safe, because … Read more
Times Colonist June 24, 2009 Condo victims deserve better The leaky condo debacle remains one of the greatest consumer ripoffs in Canadian history, costing British Columbians between $1.5 billion and $2 billion. Lives were devastated when people bought homes and found themselves facing huge repair costs. Now the provincial government, without warning, is halting an … Read more
Insurance companies not honouring new leaky condo warranties: owners Insurers say lack of maintenance by owners is source of some problems CBC – Monday, June 22, 2009 | 9:38 AM PT Thousands of B.C. condominum owners have had to live behind walls of plastic while their leaky buildings were repaired. (CBC) Some owners of recently … Read more