Monthly Archives: August 2010

Vancouver Real Estate and FINTRAC

FINTRAC - What is it? FINTRAC stands for Financial Transactions and Reports Analysis Centre which is where the Government of Canada monitors financial transactions, including Real Estate to fight terrorism and money laundering. What does FINTRAC have to do with Vancouver Real Estate? Vancouver Real Estate costs a lot of money and the Federal Government does not want this money to be coming from or going to criminals or terrorists. In 2008 the legislation that created FINTRAC was amended to require Realtors across Canada to ascertain the identity of their clients. When buying or selling Real Estate in Vancouver prospective… Find out more

Amortization by Jessi Johnson Vancouver Mortgage Specialist and Mike Stewart Realtor

I recently had the pleasure of interviewing Jessi Johnson of the Jessi Johnson Mortgage Team and he was kind enough to explain a term that I hear regularly as a Vancouver Realtor and that is Amortization. Amortization - What is it? Investopedia defines Amortization as follows: "The paying off of debt in regular installments over a period of time." Basically amortization is how long a mortgage loan takes to pay off. Most Buyers in the Vancouver Real Estate Market start out with a 25 year amortization which will take 25 years to pay off. At the start of the mortgage… Find out more