By Farhana S. Nurani, Barrister & Solicitor, Associate

It is not unusual for a family member to co-sign or guarantee a mortgage. However, there is a difference between co-signing a mortgage and guaranteeing one. For this topic, we will be focusing on co-signing a mortgage loan. Typically, where a parent has co-signed a mortgage for a child, it is not the intention of the parent to move into the property or be responsible for the property, payment of the mortgage or to benefit from the equity when the property is sold. However, whether the co-signer is a family member or a non-family member, a co-signer is an equal partner with the other borrower(s) on the mortgage. A co-signer signs mortgage documents, is registered on title and is responsible for the payments on the mortgage. However, there is often an understanding that the co-signer will not be making the payments. Before agreeing to a co-sign a mortgage or have someone co-sign a mortgage for you, here are a few things to consider:

Raising kids is expensive. It is always great to find stuff for kids to do that is free or discounted in Edmonton. Here is a list of what we found that you can do with your kids for free or low cost:

By Spencer Sharpe

If you’re a busy professional you’ve seen it everywhere, the benefits of exercise for stress management. This, however, isn’t about the science of it because if it was as simple as that you’d be using exercise more effectively. Information is great, and it’s all a Google search away but it’s useless if it’s still not being used. What you need so you can continue to thrive in business, grow personally and professionally, and gain massive success is the wisdom about how to use it.

We have a dedicated team here at Quickfire Mortgage Solutions. Learn who makes up this team and how we can help you with all your mortgage needs.

We are pleased to announce that we have new team member at Quickfire Mortgage Solutions!

Tracy brings many expertise and a strong work ethic to our team. She had been in the banking industry for 20 years and has been a mortgage broker for 12 years. She has an extensive product knowledge in the field of mortgages. She is a great asset to our team.

Mortgages are a funny thing. On the one hand they allow you to become a home owner without saving up enough money to purchase the home outright, which is a really good thing. On the other hand, even at today's really low interest rates, as they are amortized over a really long time (most of the time 25 years), they can cost you a lot more money in the long run. With the government tightening mortgage qualification, chances are securing your most recent mortgage wasn't a painless process.

I was given such a great opportunity beginning of July! Many of you may know that I participate with JCI (Junior Chamber International) which is an Under 40 group that empowers individuals to be the leaders of tomorrow. In Edmonton our group participates with many not-for-profits, like Ronald McDonald House, creates events for social responsibility, personal and leadership development but what many don’t know is there is an international aspect that is truly eye opening. As the current elected Executive Vice President for JCI Canada (our national organization) I was chosen to participate in the 34th Leadership Academy, in Karuizawa Japan.