GENERAL

RECO Insurance Renewal

Insurance payments are due by Aug. 17, 2012. The total cost of insurance including taxes & expenses for the 2012-2013 policy period is $380. Registrants who fail to make their insurance payment by the due date will become part of the suspension process & will be required to pay an additional $35 for expenses related

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Changes to Mortgage Regulations & CREA’s Position

Recently, the Minister of Finance announced changes to the standards governing government-backed insured mortgages: the maximum amortization period was reduced from 30 years to 25 years; the maximum amount Canadians can withdraw in refinancing their mortgages was lowered to 80 per cent from 85 per cent of the value of their homes; the maximum gross

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