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8 ?$ v, ?* g9 o, {* R% u ) }; y" U& B4 K; Z$ MIndustry News A man who helped orchestrate a massive mortgage scam in rural Alberta was found guilty this week of 14 fraud-related charges. James Keith Steinhubl, 47, was part owner of a company called Canadian Best Homes (also known as Canada Best Homes) that was found to have defrauded mortgage lenders between 2000 and 2002. Court of Queen’s Bench Justice Myra Bielby delivered her decision Monday, after a trial that lasted several months. Steinhubl, who represented himself, initially faced 60 counts of fraud. 8 \* W5 o5 @, p0 u- h1 f; L# ? “I observe that this case offers a primer on how safeguards in the real estate industry could be circumvented in the early 2000s to yield significant sums of mortgage money advanced on the basis of false representations,” Bielby wrote in her decision. Court heard during the trial that Steinhubl and his partner approached clients, called straw buyers, and convinced them to use their good credit to get mortgages on properties their company owned in Warburg and Empress. Click here to see more from The Vancouver Sun. ) j( l  ?5 I$ w# o- a% XHome prices are still 6.4% above their pre-recession peak, the Teranet-National Bank House Price Index shows. % x& ]4 J5 b& s% A& ]% qPrices climbed 0.5% in July from a month earlier, marking the 15th consecutive increase, National Bank said, though for the first time in four months not all regions shared in the gain. Prices in Vancouver dipped, the bank noted. ' O" Y, c) }/ S% N5 i* F4 F- s5 X - b0 z  a# s1 y9 |Over last year, the index was up 12.4%, compared to 13.6% a month earlier. “July’s rise is the weakest in four months, but it nevertheless continues the best string of consecutive monthly price increases since October 2006,” Senior Economist Marc Pinsonneault said in a research note. / U7 w0 ~7 \& c8 k- T Click here to see the full story in The Globe and Mail. ( x0 @$ K& D, k/ B$ A5 d8 MDaughters learn many life lessons from their mothers but investing is not necessarily one of the lessons. In fact, three-quarters of Canadian women feel that they are savvier investors than their mothers were at the same age. This is according to the 10th annual TD Waterhouse Female Investor Poll, which surveyed women aged 45 to 64 who share in the responsibility of their household’s finances. When asked, “what was the best financial advice you received from your mother?”, the top answer was “no advice” (28%). The second most popular answer was “save as much as you can for the future” (20%), followed by “don’t spend what you don’t have” (9%) and “pay cash and avoid credit” (9%). Only 7% said that their mother told them to set a budget and only 4% told their daughters to invest. “Financial know-how is an important life lesson and women can gain many valuable insights from their mothers,” says Patricia Lovett-Reid, Senior Vice-President, TD Waterhouse. “The best financial advice that my mother gave me when I was young was to ensure that I had the information and knowledge to step in and take on the household’s financial responsibilities at any time. The reality is, while no one wants to think about a future without their spouse, women tend to live longer than men, leaving them likely to find themselves in charge of their personal finances at some point.” . f1 K) Z3 I# a. A0 E3 ^1 S2 DOnly 5% of mothers told their daughters to be independent and have their own investments and bank accounts. Contrast that to today, 69% of women have savings and investments in their own name. Of women who are married (or common-law), 30% have completely separate bank accounts from their partner and 43% have a joint account as well as separate accounts. The remaining 27% have only joint accounts with their partner. Click here to read the TD Canada Trust press release. ' r& y) t6 Y( E5 [7 B4 r7 W' { - d7 M- S" _9 ]A new reality show called Burn My Mortgage is debuting Tuesday, October 5th on the W Network. The program puts overspending families through a series of physical challenges designed to show a mortgage isn’t a life sentence. ' k- _+ F& E- A' F " D9 N3 g; W0 |7 [) i% G% eThe first episode features Christine and Roman Sharanewych trying to keep up with their affluent Toronto neighbours. They spend $17,000 a year on sports for the kids, $12,000 a year on dining out, ordering in and entertaining friends, and another $17,000 on vacations, housekeeping, landscaping and dry cleaning. 4 o+ N) `. g( }, X* {8 x0 h “We get caught up with this keeping up with the Joneses, but what you realize, certainly what they’re realizing in the US, is that the Joneses are broke,” says co-host Chad Bisch, who motivates the families as they compete for $5,000 prizes. 1 T6 p. v" x  S4 d/ N6 C" wBy the end of the show, the family sees if they cut spending on luxuries in half, they can pay off their mortgage 14 years sooner and save $55,000 in interest. 0 ?+ b2 A; W; d: B7 p, F- X, v4 r4 H 6 ^( d, N! r. QClick here to read more about the new W show. 1 p9 ^0 S0 A/ c6 | Insurer News ; n  g; O: T$ U5 C& g What do you love most about your home? From October 4th to November 12th, 2010, Genworth Financial Canada is asking grades 4, 5 and 6 students across Canada to answer this question in the fourth annual Meaning of Home Contest. The writing contest is in support of Habitat for Humanity Canada. Students will have the opportunity to express their feelings and make a difference in their community by producing an original essay – one that challenges them to think creatively about a topic that directly impacts their lives. 2 v5 _) G. M6 x0 L0 T5 c! K “The Meaning of Home contest is a chance for us to raise awareness about the value of a home and to help teach a new generation the importance of caring,” said Peter Vukanovich, President and COO of Genworth Financial Canada. “This initiative gives young Canadians the ability to help others by putting into words what is most special about their home.” Genworth Financial Canada will donate $60,000 towards the building of a new Habitat for Humanity home in a community of the grand prize winner’s choosing. A total of $263,000 has been donated to various Habitat affiliates as a result of the contest to date. Five runner-ups will also be chosen, one from each of the following regions: GTA, Ontario, Quebec, Prairies, Atlantic and Pacific. ( G: x) M9 w7 O" {% q6 e$ @0 I Click here for more information about the contest. Dear friends, To make this news reach you as quickly as I can, I put it here in English Version first. I'll choose some important one to translate into Chinese soon. If you are interested in these news and wish to discuss,please call me at 519-2002168, I'll be more than happy to talk with you.  Best regards!   Tong, Mei ( k% G+ P" p  j9 E7 o 4 s9 v3 _+ R' [

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