There’s been a lot of talk about the new mortgage lending rules that came into effect in 2018. If you’re in the market to buy a new home or renew/finance your existing mortgage, the new rules, which are about as digestible as a three-year-old burger, probably leave you scratching your head. It doesn’t help that every site explains the rules slightly differently… so here’s my attempt to simplify the complicated for you.

People have varying opinions about the word “debt.” Some people view debt as a tool; others are wary of it; still others treat it like a two-flush corn log, refusing to touch it with a 10-foot pole. Despite these widely diverging viewpoints on the topic though, debt is a necessity for most of us, and it’s not nearly as well-understood as it should be. (more…)