Once upon a time there was a beautiful princess and she met a handsome prince. But the beautiful princess had been living with another Prince who decided to let her go and so they were selling their castle because the Princess wanted so badly to buy a new castle with the her new prince.
The Princess went to see the wicked witch who she thought would help her and the new prince buy their new castle. But the wicked witch, being wicked, didn't think it was a good idea. All the money they were using belonged to the princess and by buying a castle in both names she was giving the prince a whack load of her money. So the wicked witch said no and told the princess to wait a few months and buy her own castle and let the prince live with her.
The Princess was so upset that she went to a bank where the wicked witch had no power and they arranged a mortgage for her but in order to do so they asked the prince and his parents to be on title so they could all help look after the princess. They all agreed and probably should have lived happily ever after. The advise of the wicked witch should have been stuffed in a bottle but when ill winds blow across the land strange things can happen.
Weeks and weeks later (12 to be exact) the Princess and the Prince were not getting along and they decided to "break up". The Prince agreed to let the Princess take the castle and he would move to a far off land and find another Princess. But when the Princess went to the bank she found out that she might be stuck with the Prince for the next five years. She also found out that her money she used to buy the castle would now be split four ways because everyone on title owned one fourth of the castle. The Princess also needed to get a lawyer to change the mortgage and would have to pay 3/4 of the land transfer tax to rid the Prince and his parents from her life.
Sadly the Princess will have to decided to give her money to the Prince, his parents, the lawyer and the land tax org or to the Real Estate agent in a commission to sell another castle, the second in a year and the rest to the bank in a penalty.
The moral of the story? do I have to tell you? Prince Charming is not a mortgage strategy. (So says the wicked witch)
This October has been quite a month. It started with a life changing breakfast where I met one of my life long inspirational voices, Gloria Steinem. Gloria was speaking at the Canadian Women's Foundation Annual Breakfast where 1,000 women came together and raised $2,000,000 for a very worthy cause. The Canadian Women's Foundation is dedicated to moving women out of violence and poverty and into confidence. You will be hearing more from me on this great organization over the coming year.
But back to Gloria. The message she delivered was a game changer for me. She re-affirmed why it so important for women to be empowered but more importantly she gave me two crucial take aways:
1) "The power is in linking not ranking." So powerful in this day and age of social media. I'm a biggie when it comes to social media and it's the linking that I enjoy. I have met and communicate daily with some of the most amazing women in and around the city of Toronto. Gloria's words resonated with me and made me realize what power my connections hold. When we realize our strength our power will be unstoppable. Labelling will be the enemy of linking so it's important that our links be strong and supportive.
2) "Women worked hard without gratitude and are now trying to extract it from younger women." Gloria's message was to leave the past in the past. Young women today have their own struggles and most of yesterday's battles have been fought and won. She suggested that we go to events with younger women, abandon mentoring because it denotes a one way street and start communicating. As a mom of a twenty-something I am guilty of this and I can see its destruction.
Gloria's message was a lot more, of course, and I encourage you to grab a coffee, sit back and watch the whole thing,
Armed with her message of linking not ranking and to stop looking for gratitude I headed off to the ShesConnected Conference and Blissdom Canada.
ShesConnected was a conference that brings together brands and bloggers. It was a very interesting event and I sure learned a lot. It's clear that brands are making a very big effort to work with Bloggers for a reason. Bloggers have influence, passion, emotion and they are figuring out how to use it. Donna Marie Antoniadis is a pioneer in the field of marrying brands and bloggers and she is creating tremendous opportunities for both. Guest speakers and panelists validated the grass roots movement and the need to connect or link. Didn't Gloria just tell me that?
Then on to Blissdom Canada, a conference for bloggers and writers and yes brands. BlissDom varied slightly because it had a more relaxed atmosphere but perhaps that was because I was more relaxed. But the bliss of Blissdom was the linking. Again, amazing women took the stage and shared their expertise with the audience. More valuable information and opportunities for growth.
But the most amazing part of both conferences was seeing how women connect. From breakfast with Gloria to ShesConnected to Blissdom, the feeling was the same. Sharing of valuable information in the purest format. There was no expert preaching and selling a program from the stage as is too often common at events. Real issues were discussed and the discussions are still going on through social media. Everyone is passionate and passion is respected. Don't get me wrong. I see our differences too but the discussions are constructive. There were no "best of" awards that moved the linking to ranking. I hope everyone realizes how special this makes both these events.
As an older woman (older than the average attendee) I thought of the history that brought women to this place. I heard their complaints and the concerns and couldn't help but think these women have nothing to complain about compared to the struggles of my generation. But then I remembered Gloria's words of wisdom and started really listening to the frustrations of the new generation. I stand in awe of this group of women. They have their own struggles for sure and what I went through moved things foward for them but the past is in the past. There are new struggles. The discussions continue over lunch tables and beyond.
The one thing I feel really good about is this: there is an amazing brain trust of women and they are gathering in numbers. They are making changes and the changes matter now more than ever before. The so called "brands" of yesterday are paying attention. At the core they are women. They think, act, communicate and socialize like women. Collectively, they are finding their voice and change is all around them. I am thrilled to be part of this amazing place in history and can't wait to see what's coming.
When it comes time to choosing a mortgage, many homeowners opt for
the lowest rate they can find, at the traditional five-year term,
without paying attention to the fine print. In many cases, these
no-frills mortgages - and even some that have frills -can make a huge
dent in your wallet if you ever try to break them.
The concept of Interest Rate Differential (IRD) is one that often
comes up in these situations - and is currently in the news thanks to a
single mom's lawsuit against CIBC. The woman, who recently went through a
divorce and was forced to break her mortgage, is suing CIBC for using
vague language in her mortgage contract that is forcing her to pay the
IRD - the amount of money the financial institution will lose in
interest payments as a result of the broken contract. In this situation,
it's around $45,000 because she had eight years left on her mortgage.
The formula that banks use to calculate the IRD are among life's
great mysteries, and often differ between bank to bank, and whether you
have a fixed or variable rate mortgage. If you're signing a mortgage,
it's best to find out what your bank's policy is upfront, just in case
you may have to break it at some point. You may also want to pay a few
extra points to ensure your mortgage is portable (can be moved to
another home, if you choose to move during the term of the mortgage) or,
if you're not quite sure what the future might bring, sign on for a
shorter term. There's no rule that says you have to sign on for five
years - and, in many cases, a lesser term makes more sense, and might
even save you money.
Every house hunter has a story - and a real estate lesson they learned along
the way. Nothing proves this point better than BMO's recent Great
House Hunter Contest . While the contest is said and done - it ended on
October 10 - there is still plenty to learn from the finalists' stories:
- When hunting for the perfect house, never underestimate
the valuable role friends and family can play. While you likely don't want 17
members of your extended family trailing behind as you tour potential dream
homes, they can be an incredible resource in locating said dream house.
- If you are making an offer on a home and appliances are
to be included, make sure to write down the make, model, and serial number of
the appliance(s) and/or take pictures of them. It'll come in handy to ensure
that the item that is supposed to be there when you take possession of the home
is the one that you saw when you made the offer. Also include that information
in the offer to purchase so that everyone is aware of the details of what is to
be left.
- Look at a lot of houses, even ones that you aren't
interested in so you can get a feel for certain features. You can never really
judge a house by simply looking at the listing information.
- When buying your house, don't think you can do all the
renovations yourself and juggle everything else. I fell into that trap. We
lived in a construction zone for six months until I ended up hiring a
contractor to complete the rest of my work. While doing it yourself can save
you a lot of money, it can add a lot of stress as well. Start with small
projects before going onto the big ones!
- Get a feel for the market in the area that you
targeting. This can be easily accomplished in part by looking onto MLS. However
MLS shows the asking price, not the final sale prices. They often differ. Are
your expectations in line with your finances?
If you have a real life story email it to me.I would love to share it on my blog and of
course I will discreet.
What do you love about your community? Is it your neighbours, your
street parties or your sports teams? Royal LePage wants to hear about it
- and the company is willing to award $20,000 to the individual who
shows the greatest neighbourhood pride.
The contest, which is being held until October 21, encourages
entrants to submit videos explaining why their neighbourhood is the
greatest. The third place winner will receive $1,500 and the second
place winner will bring home $3,500. That's a great incentive to enter. I just know so many creative people with home town pride and i would love to see someone I know win this money.
So what's so great about your community? If you decide to enter let me know by commenting and I'll be sure to check out your entry. I know so many people on Social Media and would love to see some buzz on twitter about this. This is a really great idea by Royal LePage.
