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February 2015

Found 2 blog entries for February 2015.

  By: Adam Mayers Personal Finance Editor, Published on Wed Feb 11 2015

If you want to use your Registered Retirement Savings Plan (RRSP) to help buy your first house or condo, you can borrow up to $25,000 in any one year, with 15 years to pay it back.

For younger readers it’s an attractive possibility, because a couple can borrow up to $50,000 for a down payment. The question comes up frequently in email and comments: Should we or shouldn’t we? The answer is, it depends, but even at the top of a housing market, it can make sense as long as you have a clear understanding of the risks.

Dipping into an RRSP via the federal Home

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When the temperature gets this cold, the first thing homeowners should do is head to the basement.

Sounds like an old-timey advice for cooling down on a sweltering summer day, but in this case it’s important that Ontarians take some preventative measures with their heating systems. In this very cold weather, furnaces work overtime to keep a house warm, especially those homes that are less-than-optimally insulated (as many of our area’s older houses are), and if your furnace has been neglected, it might be worth a trek downstairs.

Last winter in Ontario, when the temperature fell below -15°C, Direct Energy says it saw a 24% increase in heating system calls compared with days when the temperature was -14°C or warmer.

To avoid having the furnace

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