New BFS Mortgage Insurance Rules in Effect

The new CMHC rules for self-employed borrowers took effect Friday and pose new challenges for this category of client.
First off, self-employed borrowers with more than three years in the same business who apply for a mortgage using stated income, as well as commissioned-income borrowers, are now required to provide to provide traditional proof of income (or "third party validation") through documents like financial statements, contracts and T4s.

Those who have recently become self-employed and don't have third-party validation can still apply for a mortgage, but have to come up with a 10 per cent down payment instead of five per cent. Refinancing will also be cut to 85 per cent loan to value instead of the previous 90 per cent.
Brokers have been giving the rule changes mixed reviews with some sayings the latest move was "off the wall" and hopes that if enough people talk about their displeasure with the changes, the CMHC might alter its decision.

"I don't think this was a good decision - it doesn't make sense now," one broker said, adding it also makes writing off income for tax purposes more difficult for BFS clients.

Some brokers on the other hand, agrees with CMHC's decision.

"The more people who default on loans, the worse the market becomes," they state, noting they felt a lot of self-employed people have qualified for mortgages when they shouldn't have. "This provision for self-employed is going to put the right people in the right structure of home."

Mary Wozny

Persistence ....

Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. Calvin Coolidge

Report Says 1 in 4 Canadians House Poor

One in four Canadians rely on subsidies or spend over 30 per cent of their pre-tax income on housing costs, including mortgages and rent, according to a report by the Conference Board of Canada.

According to the report, a household is unaffordable if more than 30 per cent of its pre-tax income is spent on household costs - a situation that more than three million Canadians find themselves in. The typical household spends 50 per cent more on shelter than on food and over five times more on shelter than on clothing.

"The quality and cost of housing are major factors in the health of Canadians," said Diana Mackay, conference board director of education and health. "However, about one-fifth of Canadian households do not have the resources to afford both good-quality homes and other health-enhancing expenditures, such as nutritious food or access to recreational activities."

The report warned that the high number of Canadians stretched too thin negatively affects their health, productivity, and national competitiveness, and increases the cost of health-care and welfare.

Warmly,
Mary Wozny

Happy Easter!

Wishing you all a wonderful Easter filled with love and joy, sharing time and making memories with loved ones, family and close friends.

Blessings and love,

Mary

Stress! Can You Relate to This Word?

I wonder if you can relate to that one word! What pictures does it bring to mind for you?

One of the most common complaints people have is that they have and they are under so much stress. I’m sure you hear this every day, I know I do! Of course they all believe that is a negative thing. This is not always the case.

Stress can actually be good for you. Some stress is normal and useful and in times of crisis or emergency it helps you act quickly or meet a deadline you may have.

However, if stress happens too often or last too long, it can be very dangerous to your health. Stress is linked to headaches, stomach upset, difficulties sleeping, back pain, moodiness, tenseness and depression.

Stress weakens your immune system making it harder for you to fight off disease and making existing health conditions worse. Over time, stress works unseen within us and harms our bodies, causing degenerative diseases, ulcers, heart disease, cancers, diabetes, metabolic syndrome and a host of other illnesses. The effect of being overweight compounds the effects of stress further harming your health. Poor nutrition and poor nutritional supplementation exacerbates this.

Stress is a matter of perception. What one person believes to be stressful may be seen as perfectly normal for someone else. How you view a situation determines how much stress it causes you, meaning only you can evaluate the amount of stress in your life and learn better ways to cope with it.

Everyone has a choice in how they react and perceive situations. It’s up to you to make the decision to make the necessary changes in your life. It really is easy enough to do, the toughest part is making the decision to actually make some changes.

You can make positive changes and decrease your stress by scheduling and prioritizing, by getting plenty of rest, eating well, drinking responsibly and not smoking, exercising, joining a yoga group or taking up meditation, learning to say no and implementing some boundaries in your life. Nourishing your cells at the cellular level is an optimal way of maintaining your health and well-being, giving you more energy and vitality and over time, healing your body from within. View my website if you wish to learn more about the number one rated nutritional supplementation program in North America.

Remember to alleviate stress, pamper yourself, relax your body using breathing techniques, exercise or dance, listen to soothing music, live in the present, the ‘now’, and laugh. Above all, life is to be lived and enjoyed to its fullest!

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To your vibrant health,
Mary Wozny

Achieve Integrated Health ............

I invite you to visit my site and allow me to assist you on your path to optimal and vibrant health today.

Learn more about my services at http://www.VibrantHealthandProsperity.com

I look forward to making your acquaintance and supporting you with your health goals.

To your vibrant health,

Mary Wozny

#MaryWoznyInspires
#MaryWoznyHealth

Banks Start Interest Rate Shake Up...

Four big banks have increased their posted rates on fixed mortgages, signaling the start of an upward move on record-low interest rates.

Royal Bank, TD Canada Trust and Laurentian all moved their posted rates on five-year fixed mortgages by 0.6 per cent yesterday, a move followed by CIBC today. Many non-banks have already followed, prompting a surge in requests from variable-rate clients to lock into fixed rates.

The interest rate increase will also mean higher qualifying criteria for new clients, who must meet the five-year posted fixed rate when the new mortgage insurance rules kick in on April 19.

CIBC economist Benjamin Tal told the Globe and Mail the rise in rates along with other factors means the booming housing market will slow down significantly after spring.
"Given where interest rates are now, I still think you'll see an extremely strong spring. However, after that I think the housing market will stagnate," Mr. Tal said. "We are in the ninth inning of this booming house market. We are not expecting a crash, but we will stagnate."

How Good You Have It .......

Do you fully realize how good you have it?

Or do you take all the good and valuable things for granted, focusing only on the troubles and disappointments?

Sure, you have problems, and of course there are challenges and difficulties.

The best way to move forward through those difficulties is by staying connected to the real, enduring goodness in your life.

Stop for a moment and think of five things in your life for which you can be truly thankful.

Then consider what you could do to build and nurture those things, to make them more influential in your thoughts and your actions.

It's easy for the pressing problems of the moment to overwhelm your thinking.
So it's up to you to provide a powerful, positive alternative.

When you have something to be thankful for, you have something real and valuable to go on.
You have a solid foundation from which to build.

And no matter where you may be or what may have happened, you do indeed have many things for which you can be truly thankful.

The more completely you stay connected to them, the more surely life will move in the direction you desire.

For your FREE Health Assessment, go now to http://tinyurl.com/ylfzq6a

For the #1 Rated Nutritional Supplement in North America andrecipient of the "NutriSearch GOLD Medal of Achievement" award,go to www.VibrantlyHealthyForLife.com today!

To your vibrant health,

Mary Wozny

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Quickly Let It Go .......

The energy you devote to being annoyed brings you nothing of value in return.
So choose to quickly let go of your need to be annoyed.
The time and energy you put into being offended adds nothing positive to your life.
So decide to quickly let go of your need to be offended.
Winning petty arguments will do nothing to enhance your relationships.
So find a way to quickly let go of the need to prove that you're right.
There are many things that can hold you back.
But they'll hold you back only as long as you continue to hold on to them.
Each day is filled with plenty of valid reasons to be angry, resentful, jealous, frustrated, offended and annoyed.
All that negativity can stop you cold if you allow it to take up long-term residence in your life.
So make the choice to quickly let it go.
And free yourself to soar above it all.

Find out what 6 Gold Medal, 8 Silver Medal and 8 Bronze Medal Olympic winners use to support their nutritional needs, visit www.VibrantlyHealthyForLife.com!

To your vibrant health,

Mary Wozny

For your FREE Health Assessment, go now to http://tinyurl.com/ylfzq6a.

Anxiety.....Do You Feel It?

I had an email cross my desk that I believe many of us can relate to, some of the obstacles are onesyou may be facing now or have in the past.

I’m talking about the anxiety that comes from the stress of not knowing what to do, how tomake a different life for yourself and your loved ones.

I can remember a time in my life when I would get bills that I didn’t have the money to pay.

I can remember watching my family members struggling and feeling ANXIETY becauseI couldn’t help them.

I can remember losing jobs that were paying my bills and not knowing how I’d make endsmeet the following month.

I can remember watching family members and friends going through exactly the same thing,wondering when will it end?

In those situations, there was NO QUICK FIX for the anxiety that I or others felt.

Can you relate to this feeling? Do you sometimes ask yourself the same questions?

As I’ve studied the psychology and the PROCESS of creating business and money success,the more I realize that there are problems that you can’t solve instantly.

And the longer they go without being solved, the worse they get.

It’s like a vicious cycle…

You don’t have the money to buy the things you want or pay your bills, so you feel anxiety.

The anxiety sucks up your energy and attention, so you don’t work on a plan to get on the right track.

This creates a literal downward spiral…..and it keeps getting worse.

So what’s the ANSWER?

Well, if you’ve read the book Rich Dad, Poor Dad then you know that probably the BEST way to fixthis downward loop is by starting your own BUSINESS.

That’s the way almost all of the really successful, financially independent people alive have done it.

That’s the way I’ve done it.

And that’s the way YOU are probably going to have to do it – if you want to escapethe ‘water treading’ of debt and anxiety.

Now, I realize that this is a little bit of a heavy emotional message.

But it helped me to remember how it FEELS to really be under INDIVIDUAL financial pressure.

And it reminded me that the only consistent, predictable, proven way OUT of that problemis to create your own foundation of solid cash flow with a BUSINESS.

So that’s my message to you today.

You can’t do big things for yourself or for others if you’re constantly feeling a ton of pressure and anxiety.

And you can’t create long-term security for yourself in the old ‘job’ model of the world.

We don’t live in 1960 anymore .

The big corporations aren’t going to take care of you, your friends, and your family.

If you want to control your financial life and your financial future, then you’re going to haveto take matters into your own hands.

Check this out. It may just be the answer to you're looking for!
http://marywozny.hfteambuilder.com/go4/

To your vibrant health and prosperity,

Mary Wozny