The Perfect Storm!

I’ve been warning you for almost 2 years to refinance debt in order to get ready for the perfect storm.

I now believe that the perfect storm is here and Canadian house prices will collapse by 20% to 30%!!

If you believe Canada is somehow immune to U.S. credit crisis then can you please tell me why GENWORTH FINANCIAL shares are down about 75% in last 30 days?

Genworth is one of only three Canadian mortgage insurers and their shares are collapsing.

The other two are CMHC and AIG.

We already know about the AIG disaster but what is going to happen when Genworth shares go down by say another 50%?

Will they stop insuring Canadian mortgages??

I believe it is just a matter of time when both AIG and Genworth stop insuring Canadian mortgages and we’ll be stuck once again with only CMHC who will then make it much tougher for you to borrow.

In last 12 months most American alternative lenders closed shops in Canada and credit freeze is already starting to hit many Canadian lenders.

TD Bank is no longer discounting variable rate mortgages. Their variable rate is now Prime + 1% and that’s not all…

FirstLine mortgages stopped offering variable mortgages altogether!

What’s next?

I don’t know what’s waiting for us around the corner but I have a strong feeling this is just the beginning and I urge you to act today!

Not tomorrow or next week because it may be too late by then!

Refinance to consolidate your debt TODAY!

Go to my website page http://www.joemalek.com/refinance.html or http://www.refinancingtips.com/ to apply online right now!

Sincerely,

Joe Malek, AMP
http://www.joemalek.com/