Do you have a Debt Plan?

Most Canadians have debt according to the media…I suspect most don’t have any kind of plan of how to get rid of it…let’s face it, our society is designed around getting people into debt.  Very little is shared about how to get out of debt.  We want to change that!  We can build a plan for you, your friends or family that will help them see a light at the end of the tunnel.  For some it may be simple budgeting, others it may involve what we call Debt repositioning, using their hard earned home equity to help with the “heavy lifting”.  Before you point out that is not a good thing, stretching your debts over 25 years, we will show you how to repay all of your debt, including your mortgage off faster…our goal is to get you to Debt Freedom Day as soon as possible.  Watch our fun video;


Hope you like it!

Mortgage Rates aren’t the only thing to consider

Many people obsess over mortgage rates, while there is much more to consider!

Looking into the past…Housing Issues in Vancouver in the 60s

Interesting how the more things change, the more they stay the same…

Vancity Buzz Story

50 things to do this Fall in Vancouver…

Great list from VancityBuzz…


The ins and outs of the Federal First Time Buyers Initiative

Great article from our Accounting partners at AG Tax:




Thinking of Renovating? Where should you focus?

Happy couple.


Many people get the reno bug…wanting to improve your home can make a lot of sense from both a “living in it” point of view and a financial one.

Compact Kitchen

Two of the most important areas for potential buyers are the Kitchen and Bathrooms…this also usually goes along with what most people want to renovate!  The trick is to update to the latest trends without breaking the bank.  Countertops, appliances, sinks and cupboard hardware are good places to start…new cabinetry, changes in layout etc. should be secondary…budgets can quickly enter the realm of never getting it back.  Other areas many people look for are modern heating/cooling systems, increased efficiency and high tech.

More here: Link

So how do you pay for it?  The Bank would tell you to take out a “Home Equity Line of Credit” which they make sound so easy…and it is, until you try to pay it off.  Lines of Credits are a Bankers best friend, because they really are the “Never Never Plan” where you will find in 3 or 4 years your balance hasn’t gone down, yet you have paid the interest on it routinely.  You are always better to look at refinancing your mortgage and taking out the required funds…then focus on paying your whole mortgage off…better yet, save up the money and pay cash!


Michael Anthony Lloyd

Summer Movie Festival in Stanley Park!

Vancouver really is beautiful!

Fantastic new time lapse video of Vancouver…

Great Real Life Article on paying off your mortgage!

My friend Mr. Canadian Budget Binder has written a great piece on paying off his mortgage…click the Seagull to read his story;



Senior Mortgages…more important than ever!

The Baby Boomer generation is growing older and many of them are sitting on huge amounts of equity in their homes, yet their retirement planning may not have kept pace with their cost of living.  Many are living longer than ever before, but what kind of life do they have?  Others are living ok, but are unable to help their kids or Grand kids they way they would like to.  House rich and money poor comes to mind.

Many of these people may have a great relationship with their bank (“I’ve dealt with the X Bank for 50 years!, they look after me!”), yet no longer qualify for lending from that very bank due to the recent changes in mortgage rules.


New solutions to this problem are required, and they are appearing.

In the past we used to try to setup lines of credit secured to the home as a means to give people more control and access their equity.  We still do this for some, however, now we have access to a specific lender who does nothing but 55 plus mortgage lending.  They have numerous programs including;

– downsizing & financing;  Now seniors can sell their current home, buy their smaller home and instead of using all of their equity to pay cash for the home, take out a mortgage which has optional payments.  Meaning their cashflow is in their control again.

– Equity takeout of their current home; help their kids with an eto of their residence, or keep the cash for themselves.  Payments again are optional making cashflow easier.

– Monthly cash out payment to improve their cashflow with no repayment until they sell.

These are only 3 of the many options available.  The best part?  Approval is based only on their age and property…no income or credit verification required.

More details here; Reverse Mortgage Myths

We can help you review this program for yourself or your parents/grandparents.

Michael Anthony Lloyd


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