CMHC Launches Campaign to Help Homeowners
The Canada Mortgage and Housing Corporation (CMHC) launched a consumer outreach campaign to help borrowers understand the importance of working with lenders to find manageable solutions if they are facing financial difficulties in repaying their mortgage loans.
The campaign includes consumer information on the options available to homeowners who may be having difficulty meeting their mortgage payments. This information is also being provided to government partners and credit counseling organizations.
For more information on the campaign click
http://www.cmhc-schl.gc.ca/en/corp/nero/nere/2009/2009-03-26-0800.cfm
The Green Energy Act Referred to Committee
Bill 150, the Green Energy Act, 2009 and its requirement for mandatory home energy audits on the sale or lease of residential buildings has passed Second Reading in the Ontario Legislature and has been referred to the Standing Committee on General Government for further review. The Committee will hold public hearings on the Bill April 6, 8, 20 and 22 in Toronto and in London, Ottawa, and Sault Ste. Marie the week of April 13, 2009.
OREA will appear before the Committee on April 22nd to voice REALTOR® opposition to section
2(1) of Bill 150 requiring mandatory home energy audits on residential properties.
OREA is also working with the Sault St. Marie Real Estate Board, the London & St. Thomas Association of REALTORS® and the Ottawa Real Estate Board to ensure that when the Committee holds hearings on Bill 150 in their communities, local boards are prepared to voice REALTORS®’ opposition to the damaging effects of mandatory home energy audits.
In addition, senior officials of OREA and the Toronto Real Estate Board recently met with George Smitherman, the Minister of Energy and Infrastructure, to express REALTORS®’ opposition to mandatory home energy audits. In the meeting, the Minister indicated that he plans to go forward with the concept of mandatory home energy audits. However, the Minister did offer to work with organized real estate to make sure mandatory energy audits were implemented in a practical manor.
REALTORS® explained to the Minister that we respectfully disagreed and would take all action necessary to defeat the proposal.
In the coming weeks OREA will be issuing a ‘Call for Action’ on the issue of mandatory home energy audits in the Green Energy Act to continue to inform MPPs that mandatory home energy audits are bad for homeowners and bad for real estate.
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