Almost 7 per
cent of homeowners with a mortgage were in extreme stress and 10 per cent were on the threshold.
Not exact matches
Last week, the Office
of Superintendent for Financial Institutions gave notice it is looking into whether it needs to lower the amortization period to 25 years for
homeowners with over 20 per
cent equity, so - called conventional mortgages that do not require government - backed insurance.
Tim Reid, the founder
of Phoenix Real Estate Investing, which works
with distressed
homeowners, says the number
of foreclosure notices issued by Alberta courts in Calgary and Edmonton jumped by about 15 per
cent from November to December, and is up as much as 40 per
cent on the year.
A plan by leader Ed Miliband and Shadow Chancellor Ed Balls to levy an escalating one per
cent tax on
homeowners with properties worth more than # 2million has been described as «the politics
of envy» and a move which economist believe could have many unintended consequences.
Annie Kvick, a financial planner
with Money Coaches Canada in Vancouver, says that 15 per
cent to 20 per
cent of the clients she sees are
homeowners building up additional debts beyond their mortgage.
In Canada the government offers the RESOP (Renewable Energy Standard Offer Program) that allows residential
homeowners with solar panel installations to sell the EXTRA energy they produce back to the grid at 41
cents / kWh, while drawing power from the grid at an average rate
of 20
cents / kWh.
Insurance expert
with InsuranceHotline.com, Anne Marie Thomas, said
homeowners who failed to regularly maintain the roof
of their home may struggle to get 100 per
cent of the damage covered by their insurance company.
Betrayed by staggering increases as a five - year mortgage at eight per
cent became a three - month term
of 21 per
cent; facing a recession, wage and price controls and the nightmare
of Trudeau's National Energy Policy, we received anonymous calls from once proud
homeowners with directions to pick up the keys.
It comes from social media company Postling.com, which says 73 per
cent of homeowners are more likely to list
with a Realtor offering to do a video.
When asked to choose between a bigger house
with fewer amenities or a smaller house
with high quality products and amenities, 63 per
cent of the
homeowners surveyed by NAHB opted for the latter.
More recently, a 2011 Ipsos Reid survey revealed that 92 per
cent of Ontarians «agree» the government should help
homeowners with energy - efficient renovations to their homes.
«Home renovations will remain strong this year,
with 13 per
cent of surveyed
homeowners reporting they were ready to undertake renovations this year, costing $ 1,000 or more,» says Dugan.
Renters also appear to be saying they are tired
of paying someone else's mortgage payment,
with 38 per
cent planning to become
homeowners in the next two years.
The study also noted a steady decline in the number
of homeowners who have completed renovation projects in the last two years,
with the results going to 61 per
cent in 2007 from 65 per
cent in 2006 and 70 per
cent in 2005.
The majority
of homeowners feel they are cautious
with their spending habits and 26 per
cent describe themselves as «very disciplined».
The amount
of equity take - out in the past year is unchanged from last year
with around one in five
homeowners, or 18 per
cent, taking equity out
of their home, at an average
of $ 46,000.
* About one - third (32 per
cent)
of homeowners with mortgages had some mortgage activity in 2011,
with 23 per
cent renewing or refinancing their mortgage.
Despite the number
of Canadians on the move, the survey found that as many as 26 per
cent of homeowners say they were totally or somewhat unprepared for the costs and expenses that come
with the first year in their new homes.
Another survey this week, by sellhousefast.uk, found that 63 per
cent of British
homeowners have so many excess belongings that they are forced to seek self - storage to cope
with their hoarding habits.