Property Tax Time

PROPERTY TAX TIME

It is that time of year again… property tax time! Property taxes are due July 1^st, 2016 and that covers the period from January to December 2016.

There are several ways that homeowners can pay their property taxes:

Pay them annually or make arrangements at City Hall to make instalments throughout the year. Here is their contact information.Here some information on the pre-payment options . You can also set up pre-payments for your city utilities
If you have a mortgage on your property, your lender may pay them on your behalf and take out monthly instalments with your mortgage payment. If you have purchased a home in the last several months, it is important to find out your lender’s guidelines on property tax payments. Some lenders will start collecting for next year and it will still be your responsibility to pay for this year’s taxes.
If you cannot find your property tax information, you can search for it here: https://cobweb.princegeorge.ca/

It is also important to claim your Home Owner’s Grant if you qualify. Even if your lender is paying the taxes on your behalf, they will generally assume that you have claimed your grant. Here is information on Home Owner’s Grant

You can claim your Grant in person at the City or online here:

http://princegeorge.ca/cityservices/BillingsTaxes/ propertytaxes/Pages/HomeOwnerGrant.aspx

http://www.christinebuemann.com

Who is Computershare and why are they registered on title?

If you are using a non-bank lender for your mortgage, you may notice that your mortgage has been registered in the name of “Computershare Trust Company of Canada”. This registration does not affect the terms and conditions of your mortgage in any way. Computershare holds no beneficial interest or rights to the mortgage loan. This is merely a third party, custodial arrangement which means that your lender has used Computershare to review the mortgage and provide custodial certification to Canada Mortgage and Housing Corp (CMHC) for their government securities program. Computershare is the largest provider globally of many of the services they offer and the largest corporate trust service provider in Canada. They have successfully provided this custodial service to many Canadian bank and non-bank lenders for many years and they play a very important role in the Government of Canada’s NHA Mortgage-Backed Securities Program. Computershare has served as the exclusive Central Payor and Tr...

How to Save Thousands On Your Mortgage Renewal

What could you do with an extra $15,000? If I were to offer you a cheque for $15,000 or even $2300 in exchange for a few documents would you turn in down because it was easier to simply renew your mortgage at your current lender? There are numerous published reports that confirm that most borrowers simply sign and return their bank's offer letter upon their mortgage renewal. More often than not, the rates they offer you are not the lowest available rates and they are definitely not as low as a Mortgage Broker could get you. If you take it upon yourself, you may very well be able to negotiate a better rate with them but how will you know if it is the best you can get? Here is an example… If your lender is offering you 4.24% for a 5 year fixed on a $250,000 mortgage* you would be paying roughly $15,600 more in interest than the standard 2.89% that most brokers are offering for the same term. Now let’s say you negotiated with your lender and they were willing to drop you...

Did you know that we can refinance up to 95% in order to remove someone from title?

Did you know that we can refinance up to 95% in order to remove someone from title? Not only are we seeing more separations than ever, we are also seeing more co-signing required from family. This means that we needed a simple and useful too for removing one person from title, without being limited to the 80% refinance rule . Here is what you will need: A purchase agreement confirming the current value Current mortgage statement A legally binding agreement by the two parties detailing the buyout For more information on this or if you have any questions or concerns - please feel free to contact me. www.christinebuemann.ca

Christine Buemann Mortgage Broker

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