PATRICK ROCCA Broker

PATRICK ROCCA Broker

PATRICK ROCCA's blog

FINANCING: HELOC

What is a Home Equity Line of Credit (HELOC)?

A home equity line of credit (or HELOC for short) is a revolving amount of credit that’s secured against your home. During the HELOC application process, the lender will decide on the amount of your HELOC. 

Lenders allow total loans (mortgage plus HELOC) of up to 80% of your home’s value. So, if your home is worth $500,000 and your mortgage is $200,000, your HELOC could be as much as $200,000. You can draw from that money at any time, for any reason.

You only make payments once you owe money and will have to make at least monthly interest...

LEGAL: ADDING YOUR CHILD TO TITLE

I frequently have calls from a long-time clients with this question: should I add one of my children to the title of my house (cottage)? 

Generally, the suggestion for taking this step has come from well-meaning friends, a bank manager, or other financial advisor.

The intended purpose of adding a member of the family to the title of one’s home as a joint tenant (similar to a joint bank account) is to facilitate the transfer of the family home or cottage (or bank accounts) on death to simplify and speed up the process of transfer from the several months needed to probate a will to a few...

Downsizing, Decluttering, Packing, Helping Move

Coralie Metcalfe is an organizing expert in your community, specializing in downsizing seniors and empty nesters who have too many things! Downsizing is a unique pivot in everyone’s life that comes with many emotions! We spend our lives stepping ‘up’ so this new direction can leave people in a lot of distress, quite reasonably.

 

You may be hesitant to think about your own downsizing because you don’t know where to start after many years living in the same home. It’s human to acquire many things. It’s also natural to feel overwhelmed every time you try to get rid of things. 

Coralie is a...

Stage Right Stagers & Furniture Rental

The Globe an Mail REPORT ON BUSINESS MAGAZINE: “The sought-after stager: Stage Right, arguably Toronto’s top outfitter of high-end properties”

Trusted by more agents and home owners than any other in the city of Toronto. Stage Right helped define home staging in Toronto over 20 years ago. Today, Stage Right has over 50,000 sq. ft. of warehouse space in East York offering you unique furniture, linens, art, lighting, rugs and accessories exclusively supplied by ROOST. Because our inventory is on-site, the best styles are always available to you.

The best way to get a sense of how a design...

Local Living Options for Retirement

COGIR SENIOR LIVING (formerly Revera Living)

https://www.cogirseniorliving.ca/

Contact: William Baker, Tel: (416) 440-0012 x2004

Nearby Locations:

The Claremont, 305 Balliol St

Bradgate Arms, 55 Foxbar Rd

Forest Hill Place, 645 Castlefield Ave

 

DELMANOR WYNFORD

Website: https://delmanorwynford.com/

Tel:(416) 331-9797

187 Wynford Dr

 

THE BRITONHOUSE RETIREMENT CENTRE

https://britonhouse.com

Tel: (416) 487-3392

720 Mount Pleasant Rd

 

THE MILLWOOD RETIREMENT RESIDENCES

https://themillwood.ca/

Tel: (416) 425-8635

921 Millwood Rd

 

VENVI (formerly Revera Donway Place & Seniors’ Apartments)

FINANCING: Reverse Mortgages

I'm happy to introduce Brenda Jafrudy, Mortgage Professional with BRX Mortgages. Brenda is a great resource when looking into Reverse Mortgages and HELOC (Home Equity Line of Credit). 

Reverse mortgages are not the same thing as a standard home equity loan. Reverse Mortgage  specifically geared to help seniors access equity in their homes. As such, reverse mortgages have a specialized lending process, more targeted qualifications, and a different repayment schedule than home equity loans. In some part, these safeguards are put in place to help protect seniors using reverse mortgages.

In...

LEGAL: Wills, Trusts and Estates

I'm very happy to welcome Harvey J Ash as one of my  legal experts.

Harvey J Ash has been a barrister and solicitor practising in the Province of Ontario since 1977. In addition to practising civil, matrimonial, and estate litigation, Mr. Ash has extensive experience in drafting Wills and Powers of Attorney as well as probating Estates. Mr. Ash was also president of the Canadian Society for the Advancement of Legal Technology in the early 1990s, teaching lawyers the use of technology in their practises as well as making recommendations for bringing technology to the Court system in...

Packing Up Your Life

First you have to declutter your house. That can seem like a daunting task unless you break it down into easy to manage segments. You will have to purge in order to live in a smaller space whether that's a condo or if you choose to move to a retirement home or an assisted living facility.

Start early, start small using the Four-Box Method.  

Take four boxes and label them as follows and move room by room:

Trash: Things you don't need or want. Rule of thumb, if you haven't used it in 2 years, and are unlikely to use it for another 2 years, you may not need it. 

Give away/sell: Differentiate...

Family Navigator for Seniors

  

Karen Linker is Founder and CEO of Family Navigator for Seniors. She is a former nurse and executive in the Senior Care industry. What truly sets her apart is her empathetic, unbiased approach inspired by her own experience of finding care for her aging parents who had complex needs.

Karen’s extensive experience working within the Health Care and Senior Housing sectors enables her to offer her clients a unique perspective with insider knowledge.

Karen began her career as an RN in critical care at St. Joseph’s Health Centre, and then held progressive positions in Health Care within the...

My New Blog Downsizing and Lifestyle Changes

  Welcome to my new blog,

Most of you know me and my family. Afterall, I've been working and living in Leaside for over 30 years. Our children probably went to school together. Maybe you and I chatted while attending some sports activities our children were involved in, hockey, gymnastics, cheerleading and so on. We may have sat on some local committees together, or you know me from many of my local fundraisers and you may have attended many of the activities I've organized in Leaside & Davisville over the years.

Over the last few years, many of my clients & neighbours have been...

Syndicate content
Bosley Real Estate Ltd., Brokerage **Independently Owned & Operated416-322-8000103 Vanderhoof Ave, Toronto, Ontario, M4G 2H5
Toronto real estate leads by iNCOM Web & e-Marketing Solutions