u/Calm-Huckleberry-601

Any idea why it's taking so long or what to expect?

I am planning to do an MBA next year from a very reputed US bschool. I already did a master's from a Canadian university and paid off my debt.

I wanted to ask, what are some ways in which US masters education can be funded from Canadian institutions (big banks or Ontario govt).

For those who have done such things have you utilizes lines of credit or other such things?

Is there a genuine chance that we may get our GCs in our lifetimes?

Hi everyone

I had moved to Burlington in the beginning of April. However, I had to rush abroad for a personal emergency in the second week. My car was still parked at my old address in waterloo.

I had updated my address on drivers license to burlington one on March 31st.
I came back in end of June and in all the chaos forgot to update my auto insurance company about the address.

I got a new auto insurance on the new address but at the same time (clubbed it with same company as home insurance),

old insurance company reached out to me confirming the address. I initiated cancellation of the old insurance on the same day.

They have not issued any message regarding cancelling of insurance from their side, but given that I have initiated cancellation, how will they record it?

Going through a rough time. please help me out.

I have an insurance and driving history in Canada for 8 years. No accidents or claims ever.

For 3 years I was with a high risk insurance provider because of one careless driving conviction. I've learnt from my mistake and made amends.

Now, while the conviction doesn't appear on my driver's extract it does appear on my autoplus report as 1 serious/criminal conviction. (Fwiw it's not criminal).

So I am wondering if this will hound me forever or if it stops mattering after 3 years.

I am trying to understand what's the consensus view on maintenance fees in condo. I'm not thinking that they shouldn't be charged but what I've noticed is that they have gone up significantly in past few years in Toronto/GTA. (~25-30% since pandemic)

I have a strong apprehension that they are either inefficient, over priced, or possibly inflated because of less than genuine quotes. Example, plumbers charging $5000 for a minor leak investigation happening over 1 hour.

Moreover, since they always go up, they are akin to a hidden interest expense. Even though they cover basic stuff like water, heat, cleaning, gym etc

Those who pay this or have experience/an understanding of this, do you feel they are fairly priced? Or at least close to it? Or are they more inflated than they need to be.

I am trying to understand if end unit town homes are priced higher than the non-end unit ones.
This is in Milton. The lot width for the townhome is 27 feet while all other townhomes are 21 feet wide.
In this particular case, there is a gap of about 12 feet or 4M between the walls of the neighbouring townhomes.
How much of a premium can this situation create?

I have a LoC which was given to me when I was a student for $75K. I used it for studies and then paid it off in full. It is active currently but is set to expire, after which it would be converted to loan at prime + 0.5% with 15 yr amort.

Have no other debt other than mortgage (21% home equity, some unutilized heloc)
I also have a property owned abroad

I am thinking to max out the LOC, and invest it in something meaningful (stocks, or business). This way I can probably generate some good returns over the years.

I know ideally you should not invest with borrowed money but I am not looking to squander it, or misuse it. Since it is about to expire and has a long tenure, I thought I can invest it. If I fail, I still have assets to pay it off.

Anyone been in this situation before?

Took CIBC Mortgage for 640K (160k down) FTHB, 30yr amort
Made 2 payments, so mortgage balance was about 638k
Applied for HELOC. Appraisal of home came at 805K (5K higher than purchase) after visit.
I thought I would be qualifying for 6K Heloc

However, mortgage effectively got refinanced. The balance is now 644K, heloc shows balance of -4K but not accessible for some reason. Also old payments are not factored in. (which would have reduced mortgage balance by 2k)

I do not need heloc funds, but I wanted to have one active, just in case I ever needed to.

This is very confusing. Is there some error or is this normal?

I owned a small apartment in India since 2007 (grandfather willed it to me).

I immigrated to Canada in 2018. This property was declared in T1135 returns based on an estimated value at that time.

Because of currency depreciation and market stagnation, the property will be sold at a value likely lower than what it was in 2018.

How to declare this to CRA in next year's tax returns?

I have documents to prove the sale value. But for the cost value, given the adjusted cost base application, how should this be done?

There are licensed property appraisers and I can provide a report from 2 of them.