134 - Buyer's Remorse In Canadian Housing Market

DebtMatters Podcast

English - January 04, 2024 14:00 - 19 minutes - 17.5 MB
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Previous Episode: 133 - How Do I Pay Off Debt When Living Paycheck to Paycheck

Next Episode: 135 - How Fear of Bankruptcy Can Keep You Financially Stuck

Owning a home has traditionally been a solid form of investment. But with inflation at an all-time high, interest rate hikes are beginning to cause a slowdown in the real estate market. As the market continues to fall, many recent buyers are beginning to regret their decision to buy.

In today’s podcast, Licensed Insolvency Trustee, Matt Fader, addresses the widespread remorse that is building as many Canadians face the prospect of renewing their mortgages. He offers suggestions about how to prepare and be proactive with your finances before your renewal date. Additional topics covered are:

How did we get hereThe true cost of home ownership versus rentingPitfalls of a Home Equity Lines Of Credit (HELOC)Preparing and budgeting for increased mortgage paymentsWhy consult with an LIT to review your options before things fall apart

If you are struggling to pay your mortgage, contact a Licensed Insolvency Trustee. They are debt professionals that will review your overall finances and go through all the options available to you. Licensed by the federal government of Canada, you can be assured of honest advice.

About Matthew Fader

Matthew has worked in the insolvency field since 2005 and joined Allan Marshall and Associates in 2017. His positive outlook helps reassure his clients with any financial insecurities they may have. Matt’s goal is to ensure that everyone has the best possible experience and is treated with respect.

Additional Resources Allan Marshall & Associates Licensed Insolvency Trustee The Cost of Living in B.C. Versus The Rest of Canada Buy vs Rent: Is Homeowernship a Cheaper Option?