Nothing Down Is Still Here!

As of October 16, 2008, the 100% financing and 40 year amortization options were no longer available if you were seeking an insured mortgage.

However, some of you may need these features to get you through a temporary life event that has limited your financing options.

As one of the few remaining self-insured alternative options, let me help keep your alternative financing options open.

As a reminder, I still offer:

100% LTV for Beacon Scores 640 or higher.
Up to 40 year amortization at no added insurance premium.
Financing for Beacon Scores as low as 540.
Liberal property guidelines.
Two valuable Business-For-Self programs.
Helpful debt servicing guidelines.

Whether you are seeking to purchase, or refinance, let me help you secure the financing you need.

Sincerely,

Joe Malek
www.joemalek.com

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/

Get a Fully Open Line of Credit Up To $250,000 Credit Limit

• Do you own your home?
• Are you self-employed and can’t prove income?
• Do you worry about not having enough cash to make minimum monthly payments on your credit cards?
  

Then let me get you a fully open line of credit up to $250,000 credit limit with competitive interest rates starting from 6.99%!

This product combines the advantages of a line of credit with the convenience of a credit card using the equity in your home as security.

The equity in your home is the difference between the value of your home and the amount you still owe on your mortgage or other home equity secured loans.

Use the equity in your home to secure a credit limit of $10,000 to $250,000. Use only what you need, when you need it, up to your available credit limit.

You can make purchases up to your credit limit. The amount of credit still available at any point of time will vary depending on your current outstanding balance.

Use it for consolidating higher-interest debt, making home improvements, helping with business start-up or operating costs, or even for managing unexpected or everyday purchases - it's entirely up to you.

Your new line of credit is available to use any way you want for as long as you own your home.

Whether it's those small everyday purchases, consolidating your debt, vacation planning or home improvements, this line of credit works for you.

You can borrow up to 85% of the value of your home less any mortgages on the property.

Available credit will vary based on your property location, income, credit history and home equity available.

Loan to Value is the ratio of the total mortgage balance owing divided by the fair market value of your home (including the amount you are applying for).

I use a very flexible approach to income verification. I know that many of my customers are self-employed and look at each application accordingly.

The minimum monthly payment is half of most other major credit cards, at 1%, 1.25% or 1.5% of the outstanding balance or $10.00, whichever is greater. Your minimum payment term will be based on your income, credit history and home equity available.

Your minimum monthly payment will be deducted from your bank account each month on the payment due date as shown on your monthly statement.

Additional payments can be mailed in the envelope provided with your monthly statement.

You also have the option of paying through online and telephone banking through the Bank of Nova Scotia, Toronto Dominion Bank, Canadian Imperial Bank of Commerce, Royal Bank, The Alberta Treasury, President's Choice Financial and the Bank of Montreal.

To apply for your new line of credit up to $250,000 credit limit go to get started page at http://www.joemalek.com/getstarted.html and complete 2nd mortgage application form.

Thank you

Joe Malek
www.joemalek.com

Don't Be Waiting To Consolidate Your Debt!

The Canadian housing market could face a similar housing bust to the United States, particularly in more bubbly markets as Vancouver and Calgary, said Robert Shiller, the Yale University professor who predicted both the 1990s stock market boom and bust and the US housing slump.

Mr. Shiller, co-founder of the S&P Case/Shiller Home Price Index, said psychology is the primary driver of bubbles and it appears that Canada has been caught up with home buying fever just as the United States and other countries around the world.

More Canadians than ever are seeking financial relief through debt counseling agencies after maxing out the equity in their homes, or putting off things like home renovations in an effort to shore up sagging finances as they worry about the U.S. economic meltdown or face soaring costs for gasoline, food and other necessities.

At the same time, consumer confidence is being undermined as money gets tighter, the value of people's homes slips, more jobs are cut in the economy, volatile markets take a toll on investments, and potential home buyers become more cautious.

A tightening of mortgage rules and higher interest rates, sparked by the U.S. credit crisis, may cost more Canadian homeowners lose their homes and limit credit to only the best clients.

With many large U.S. lenders exiting Canada, the credit crunch is starting to impact Canadian homeowners because these U.S. lenders are not renewing mortgages.

If you have debt you’d like to refinance then I urge you to do it sooner rather than later because with falling home values it will soon be much harder to consolidate your debt.

Go to my website page http://www.joemalek.com/refinance.html and get started today!