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Halton Hills This Week, Wednesday, December 1, 1993 — Page 19 It looks like interest rates are close to as low as they will go. At least mortgage rates and the prime rate should be at the bottom. Add to this the size of national debt and the weakness of the Canadian dollar and it shouldn’t be too long before interest rates begin to move upwards. So what moves might be to your advantage? Moving to long term mortgages is appropri- ate now. Along with this you could also consider: debt consolidation. If you are in the right situation and if your comfort zone allows, you could increase your available cash while you consolidate your debt. The ingredients for the recipe include a mortgage, collateral, a personal loan, and the ability, ag make some paym You ¢ can take advan- tage of the current low interest rates and rene- gotiate a new low inter- est rate mortgage that includes-the remaining value of the old mort- gage plus ‘the outstand- ing value of your per- sonal loan. What kind of results might occur? If you had an $80,000 mortgage at 11.5 percent and a per- sonal loan of $15,000 at 12 percent you could reduce ah iS ments by as much a: $500 per yoonth depend ing on the i aha period and so What are you giving up? You are increasing your long term debt. The mortgage amortiza- tion period may b unchanged but the per- sonal loan payback peri- od will increase to the © with George Perdue A Good Time length of the mortgage Does this matter? to Refinance If you need the cash, no. If you can make amet etn more return with the cash from another investment, no. If you hate long term debt, yes. So you want to consid- er this option closely. However, your mort- gage is not due right now and it is a closed mortgage. Enter the penalty clause. Some of these are considerable, however, even with the penalty the cash can be preferable in certain cir- cumstances. Now you ask, “I like this idea because I need cash flow. If I had cash I could pay the penalty, but my problem is cash, so how can I make this happen.” If you have a personal line of credit to pay the penalty, roll the penalty into the mortgage along with the personal loan and proceed. The permutations and combinations are en less. You should abek the help of a mortgage specialist such as a mortgage broker 6r.a financial advisor. For straight forward situa- tions these are no-fee services. We refer our clients.to a local mortgage broker who can shop the mar- ket and obtain the best terms and rates avail- able. They can even get the best rates from your bank. George Perdue is a Financial Planner, Business Consultant, and Partner in Money. Concepts, Halton Hills. He and associates Aysen Abaci, Pierre Brianceau, Peter Chaperlin, Karen Perdue and Brett Worby can be contacted at (905) 873-1877. JOHNSON gs __ LARRY BARNSTAPLE ASSOCIATES LTD., REALTOR 877-5165 tor. 874-3040 Res. (519) 833-9578 Since 1972 Let me bring Toronto, Mississauga, & Brampton to your home via Rogers Cable TV *Sales Representative Providing Real Estate Services BOVIS BARGAIN Sars oa in yo oe finished rec. sl sized eat-in} oy kitehen oreo spacious ha Ly Barnstaple’, ily r00 vith bat in pert id es: baths, walkc tional To view call Larry Barat STORYBOOK YARD 3 bedroom bungalow in one of Erin's better neighbour- oomwth vaulted colng, sunken ira treed lot. 2 93-2-330 AFFORDABLE BRICK VICTORIAN Privately tucked away on 4.5 acres yet minutes to town. hoods. Gleaming hardwood floors, very private well private. i, Sunny GLEN WILLIAMS $219,000 asking, 3 bedroom brick on near acre 2 car garage, walkout to yard from base- ment level. Inground pool. Call Larry* 877-5165. 93-2-484 ROCKWOOD TOWN & COUNTRY $179,900 en one 1/3 acre treed lot; very te. 4 bedroom home, beautiful decor, family room-with Wondetae hot tub, walkout to two 93-2. the- | 3 bedroom - 1 1/2 bathrooms, central air, arene. 8 bled complex. $124,900 asking. Call mstaple*. 0°2-600 WHAT A BACKYARD $99,900 asking, 3 bedroom townhome Unspoiled beeonent patio doors to fenced} to-shops, 10 mins. to 401 vy Call 165._ x OLYMPIC ACHIEVEMENT ian contine onan winning team. An executive retreat ng on a hi among the Maples; spacious home with separate guest suite. Cal or althe deta {000 asin. 8 bedroom Cape God on 129 acres of ra pr Apurnet Kitano feed oom, huge ma 1m with the ultimate eneute, ad ing study, Weekly Programme Schedule for the week of November 29th to December 3rd, 1993 MONDAY 30 TV Story Time 6:00 Halton’s Health 6:30 Citizens Forum on Racism 7:00. Sportszone ‘Live’ - Phone-in 290 A Nigh at the Oscars THURSDAY 5:30 Religion 6:00 Community Calendar srelen 7.00 ae asc urope ean Leeda IDAY ee Ral do EB Community Calendar 6:00 Optimists TV Bingo 6:00 Sportszone 00 22193) _ 6:30. Regi WEDNESDAY : 30 TV Story Time Check Schedule daily 6:00 Community Calendar 6:30 Working in Ontario EH coe 7:00 Halton Region Invitational (recently recorded programming) sketball Tournament 8:00 Lyn McLeod's Ontatio 853-12 270 — master bedroom, ting. Ny large Charm & convenience. Call Larry* 874-3040. 25 ACRES Thos, pnd fast tom stream, Baauliful 4 bed- room apartment, 2 large outbuldngs, Call ks Bamatpl" 67 877-5165 93-2-440 93-2-325 Ha? in 2,000+ sq. ft. of lu Of luxury on tee fat ol wit pond, ‘open concept, tain ily roorn, floor lat laundry, base- ret n Gale Minutes to 401 oe Gal} con SPECTACULAR VIEWS floors, 10 ft ae chery se pts htt to bal- k, 4 pea library, large a 57 acres of trees, il & steams 93-2-394 uded from the road, 2 new baths, ‘sunroom, large elevated patio, walkout basement ~ Very bright home. Stocked pond, workshops. Adjacent 21 acres: 2-367: TIL yl rei LOTS OF LOTS ‘A 3 acre building lot, 275' x 500 * Asking $99,900. Call Larry 874-9040 B-1 acre building kt ad. $79,900, Call Lary 874-9040 21.5 acres bed 10th SIDEROAD, ERIN FISH HERE! $129,000 asking for this 21.5 acre building lot, trees, stream, pond, trout, new 28 x 48 ft. hop. Cal’ Larry’. 4th LINE. 5th LINE ESTATE LOTS 99,900 & 114,900 2 acre lots on paved road, ravine, trees, close to Georgetown "Go". Call Larry* 874-3040. stall insulated bam with paddocl 2-115) ~ 94 ACRES OF CALEDON Spring fed pond. Open meadow. Executive Cape Cod home with spacious family room| baa ve Feel wee to Sabor Village, zadiion with cathedral bani he ae stone fireplace situated to take advantage of the views. 5 Hwys i #10. Great home site while alia ay tae epportine Call Lamy" 877-5165