About half Canadians don’t know the mortgage rules change today

Just read the news this morning regarding to the new mortgage rules in Canada. Yes I am part of the half Canadians that don't know about it. Apparently, federal government announce the new rules on Jun 21, 2012, and it will take effect on July 9, 2012

Picture from http://fortmcmurraymortgage.com

Here're the changes: 


- Reduce the maximum amortization period to 25 years from 30 years. This will reduce the total interest payments Canadian families make on their mortgage, helping them build up equity in their homes more quickly and pay off their mortgage sooner. The maximum amortization period was set at 35 years in 2008 and further reduced to 30 years in 2011.

- Lower the maximum amount Canadians can borrow when refinancing to 80% from 85% of the valve of their homes. This will promote saving through home ownership and encourage homeowners to prudently manage borrowings against their homes.

- Fix the maximum gross debt service ratio at 39% and the maximum total debt service ration at 44%. This will better protect Canadian households that may be vulnerable to economic shocks or an increase in interest rates.

- Limit the availability of government-backed insured mortgages to home with a purchase price of less than $1 million

The rule sound making Canadian buying house more difficult, but I think it's a good thing. Investing a house is great for saving and some good potential financial return, but if investing a house that cannot afford it may give you lots of pain.

Source: financial post

The power of Baking Soda - Miscellaneous Use

In previous posts I share the 17 ways of using baking soda in cleaning, 15 ways of using baking soda in personal care and 18 ways of using baking sodain deodorizing. What about using baking soda in miscellaneous use.

Picture by http://www.sgiss.com/

 1. Camping Cure-all

Baking soda is a must-have for your next camping trip. Its a dish washer, pot scrubber, hand cleanser, deodorant, toothpaste, fire extinguisher and many other uses.

2. Extinguish Fires
Baking soda can help in the initial handling of minor grease or electrical kitchen fires, because when baking soda is heated, it gives off carbon dioxide, which helps to smother the flames. For small cooking fires (frying pans, broilers, ovens, grills), turn off the gas or electricity if you can safely do so. Stand back and throw handfuls of baking soda at the base of the flame to help put out the fire–and call the Fire Department just to be safe.

3. Septic Care
Regular use of baking soda in your drains can help keep your septic system flowing freely. One cup of baking soda per week will help maintain a favorable pH in your septic tank.

4. Fruit and Vegetable Scrub
Baking soda is the food safe way to clean dirt and residue off fresh fruit and vegetables. Just sprinkle a little on a clean damp sponge, scrub and rinse.

5. Tendering the Meat
In most of the Asian Restaurants, stir-fry beef or pork, the meats are very tender because they used this technique to tender the meat. Sprinkle 1 teaspoon of baking soda on the meat and mix it well. Wait about 10 to 15 mins, rinse it with water to wash out the baking soda before marinate. If you find strong taste of the baking soda reduce the amount of baking soda.

I believe there's still more ways of using baking soda. Let's utilize this amazing household tools. 

Source: Care2.com

Receive 4 Disney Land / Disney World Ticket Free - Another Scam

Received another scam - Receive 4 Disney Land / Disney World Ticket Free today. In order to get the "Free ticket", you need to invite your friend to join this event.  This is almost exactly same as the Starbucks one - Receive $100 Starbucks Gift Card for FREE (Official). I am telling you again. This is a scam / spam. 

1. When you click on the page they created, it's almost nothing there. Official page should have more information.

2. It's too good to be true, just invite 50 friends, you can get 1 Ticket. There's no free lunch.

3. The link will redirect to "http://lnkgt.com/8v3" which will ask you to pick up Apple stuff instead of Disney Land ticket and continue.

If you did make the mistake of sharing the scam link, then you are now spamming your friends with the very same message. Clean-up your newsfeed and profile to remove references to the scam. (click the “x” in the top right hand corner of the post).

Be on the lookout for more marketing offers arriving to your email inbox and physical address if you submitted that information to the scammers. Also be aware and alert for possible identity theft attempts.