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Tips to keep your family safe from asbestos
(NC) Most of us know that breathing asbestos fibres can cause cancer and other diseases. But although many know its often found in insulation, few realize it may also be in cement, plaster, floor and ceiling tiles, house siding and certain car parts. Fortunately, there are no significant health risks if materials containing asbestos in your home are left undisturbed. This includes asbestos tightly bound in products that are in good condition or sealed and isolated behind walls or floorboards, or in the attic. However, you can be exposed to hazardous asbestos fibres when your home or other building you spend time in, such as your workplace, is being renovated or demolished. Asbestos fibres can be released into the air when materials that may contain asbestos are disturbed by sanding, drilling, sawing or breaking them apart. Some car parts may contain asbestos, and you can be exposed when changing your brakes or replacing a transmission clutch. The Government of Canada is taking action to help protect Canadians from this harmful substance. In December 2016, it was announced that asbestos and asbestos-containing products would be banned by 2018. In January, Canada published draft regulations to prohibit the use, sale, import and export of asbestos and products containing asbestos, and the manufacture of products containing asbestos, with limited exclusions. Tips to protect yourself: Avoid disturbing asbestos materials yourself. Before doing any major renovations, remodelling or demolitions, reduce your risk of exposure by hiring a professional to test for asbestos. If asbestos is found, hire a qualified asbestos removal specialist to get rid of it before beginning work. Be sure to check with your auto parts dealer before doing any work yourself with replacement parts. www.newscanada.com
Stress Test Best Practices Tool Kit
With the new Office of the Superintendent of Financial Institutions stress test rules firmly in place since January, Canadian homebuyers have learned they need to arm themselves with practical information on how they can ensure they are stress-test ready. The following is a guide and best practices tool kit for those about to embark on securing their new or next mortgage: Make a financial plan Any time a big purchase is at stake, laying out a financial plan is always the best first step to take. By creating a plan, home buyers can protect themselves from increased interest rates and ensure they are staying on budget. Have a contingency fund Without question and now more than ever, home buyers need to establish contingency funds. Its incredibly important to have funds set aside when unexpected costs such as property repairs arise. An established contingency fund also looks good to financial lenders. Pay off debts and increase downpayment The most important tool in the Best Practices Tool Kit is to pay off debts as quickly as possible and maximize your down payment. If you already have a mortgage, increase the frequency of payments by taking advantage of what the financial institution offers such as accelerated bi-weekly payments. Broaden search parameters Although you may have an ideal neighbourhood in mind, it is important to also consider broadening those search parameters. Often there are homes in other neighborhoods that could be a perfect choice if you are willing to commute a little longer. Im here to help you I can help you to navigate confusion surrounding the stress test. Ultimately, being stress test ready means being ready for future increases in rate so that you can afford your next home comfortably on your budget.