Sham Pathania www.greatgtahomes.com

Here is a quick look on the questions related to mortgage financing which all the buyers must know.

Mortgage Financing Matters

PURCHASER'S RESPONSIBILITY TO CONFIRM FINANCING ARRANGED:
It is the bueyr's responsibility to arrange any mortgage financing which might be required to complete the purchase. Once the mortgage is arranged, it will be the purchaser's responsibility to:

1. satisfy any special requirements by the lender (e.g. - proof of income, proof of cash down payment, payment of other debt obligations, if required by the mortgage lender, etc.) in order to avoid last minute financing problems on closing day;
2. confirm with the mortgage lender that mortgage instructions have been sent to our law office so that we can finalize processing the mortgage financing and obtaining mortgage funds for closing.

PRE-APPROVAL IN WRITING:
It is highly recommended that if a buyer chooses to seek pre-approval, (before a property is purchased), such pre-approval should be in writing, confirming the terms of the pre-approval and mortgage.

IF USING A POWER OF ATTORNEY:
Mortgage lenders NOW require a copy of the power of attorney document to be used (if any) for a mortgage since mortgage lenders MUST NOW pre approve any power of attorney form being used. Typically, to be approved, the borrower must be an existing customer of the bank OR must have signed the power of attorney document while in Ontario with witnessing done by an Ontario Lawyer.

CONDITIONAL ON FINANCING:
It is highly recommended that if financing is required (whether it has been pre-approved or not), any agreement of purchase and sale should be conditional upon written confirmation of financing terms from an institutional lender.

OPEN/CLOSED MORTGAGES:
Open mortgages may usually be paid off at any time without a penalty. Closed mortgages cannot be paid off before the end of the mortgage maturity date without being subject to a penalty (i.e. the greater of 3 months interest or the value of the difference in interest rates).

ACCELERATED PAYMENT OPTIONS:
Institutional lenders usually offer accelerated payment options in the form of bi-weekly or weekly payment plans that can reduce the duration of the mortgage by paying more towards principal and thereby reducing the total interest cost.

CMHC (CANADA MORTGAGE AND HOUSING CORPORATION) MORTGAGES:
Be aware that if a purchaser is arranging an insured mortgage (where the cash down payment is less than 20% of the purchase price), the mortgage lender (on closing) will deduct certain costs from the mortgage advance. PLEASE CONFIRM with the mortgage lender as to what costs will be deducted (For Example: 8% provincial sales tax on the mortgage insurance premium, appraisal fee, property tax holdback or interest adjustment, if any). For further information contact your bank branch.

My close associate who is into Commecial Real Estate in Brampton, just sent me an email few hours ago is worth sharing. Perhaps some of smaritans are already using it, but I was not aware of this tool. Its just good !! It works in Canada and US.

This is just what he sent me!

Google 411 - Good One...NO, GREAT ONE!

Here's a number worth putting in your cell phone, or your home phone speed dial: 1-800-goog411 or 1-800-466-4411.

This is an awesome service from Google, and it's free -- great when you are on the road. Don't waste your money on information calls and don't waste your time manually dialing the number.

I am driving* along in my car and I need to call the golf course and I don't know the number. I hit the speed dial for information that I have programmed (1-800-466-4411). The voice at the other end says, "Say the name of the business and the City & Province." I say, "Kingsville Golf Course, Kingsville, Ontario". He says, "Connecting" and Kingsville Golf Course answers the phone.

How great is that? This is nationwide, Canada & US, and it is absolutely free! Works on cell and landline phones, all you have to remember is 1-800-466-4411. Give it a try.

Click on the link below and watch the short clip for a quick demonstration.

http://www.google.com/goog411/

*P.S. Please check the new regulations inforced Ontario, which prohibits calling while you are behind the wheels.

Thinking of Selling your Home ! Serving Region of peel, Call your Realtor Sham Pathania. Visit www.greatgtahomes.com for MLS listings and search MLS properties in your desired area.

If you have any question related to real estate or if you are seeking an assistance in selling or buying a real estate property in Brampton, Mississauga, Milton,Oakville, Caledon, Etobicoke or anywhere in GTA area, you may conact him at 416-562-8417. Sellers can always ask For a FREE complimentary market evaluaton of your property.

If you are looking for a house and you have a particular School in mind, you must look for these MLS listings with school information.

Why the Poppy?

All the stories are worth reading and have lot lo learn.

Today, fields of brilliant poppies still grow in France.

A writer first made the connection between the poppy and battlefield deaths during the Napoleonic wars of the early 19th century, remarking that fields that were barren before battle exploded with the blood-red flowers after the fighting ended.

During the tremendous bombardments of the First World War the chalk soils became rich in lime from rubble, allowing 'popaver rhoeas' to thrive. When the war ended the lime was quickly absorbed, and the poppy began to disappear again.

After John McCrae's poem In Flanders Fields was published in 1915 the poppy became a popular symbol for soldiers who died in battle.

Three years later an American, Moina Michael, was working in a New York City YMCA canteen when she started wearing a poppy in memory of the millions who died on the battlefield.

During a 1920 visit to the United States a French woman, Madame Guerin, learned of the custom. On her return to France she decided to use handmade poppies to raise money for the destitute children in war-torn areas of the country. In November, 1921, the first poppies were distributed in Canada.

Thanks to the millions of Canadians who wear flowers each November, the little red plant has never died. And neither have Canadian's memories for 116,031 of their countrymen who died in battle.

Why the Poppy?

Today, fields of brilliant poppies still grow in France.

A writer first made the connection between the poppy and battlefield deaths during the Napoleonic wars of the early 19th century, remarking that fields that were barren before battle exploded with the blood-red flowers after the fighting ended.

During the tremendous bombardments of the First World War the chalk soils became rich in lime from rubble, allowing 'popaver rhoeas' to thrive. When the war ended the lime was quickly absorbed, and the poppy began to disappear again.

After John McCrae's poem In Flanders Fields was published in 1915 the poppy became a popular symbol for soldiers who died in battle.

Three years later an American, Moina Michael, was working in a New York City YMCA canteen when she started wearing a poppy in memory of the millions who died on the battlefield.

During a 1920 visit to the United States a French woman, Madame Guerin, learned of the custom. On her return to France she decided to use handmade poppies to raise money for the destitute children in war-torn areas of the country. In November, 1921, the first poppies were distributed in Canada.

Thanks to the millions of Canadians who wear flowers each November, the little red plant has never died. And neither have Canadian's memories for 116,031 of their countrymen who died in battle.

IN FLANDERS FIELDS

In Flanders Fields the poppies blow
Between the crosses, row on row,
That mark our place; and in the sky
The larks, still bravely singing, fly
Scarce heard amid the guns below.

We are the Dead. Short days ago
We lived, felt dawn, saw sunset glow,
Loved, and were loved, and now we lie
In Flanders fields.

Take up our quarrel with the foe:
To you from failing hands we throw
The torch, be yours to hold it high.
If ye break faith with us who die
We shall not sleep, though poppies grow
In Flanders fields

In Flanders Fields was first published in England's Punch magazine in December 1915. Within months, this poem came to symbolize the sacrifices of all who were fighting in the First World War. Today, the poem continues to be a part of Remembrance Day ceremonies in Canada and other countries throughout the world.

The poem was written by a Canadian-John McCrae, a doctor and teacher, who served in both the South African War and the First World War.