Glen Kelleway - Mortgages, Credit and Tax

David interviews his friend, Glen Kelleway. Glen is a mortgage broker and specializes in one of David's pet tax regimes - that of making your Canadian mortgage tax deductible.

Along the way you'll hear how Glen helped David get his mortgage and learn some of what Glen does and how he can help you, even if you have been bankrupt as David has been. See the detailed list of the sections for a couple of telephone questions.

Glen can be reached at:

The individual segments of the video:

• A cola break - David's favourite diet cola gets a free plug
• An introduction to Glen Kelleway and background to David's using him to get a mortgage Includes some information on what happens when someone with less than perfect credit gets a mortgage
• Glen works out of his home in Maple Ridge but if you need a mortgage for a property in Canada, even if you are in the US, you can contact him and even apply online. Glen will work with people to help them make their mortgage tax deductible.
• "How easy is it to phone the credit bureau and fix a problem?" Glen can and does help his clients to clean up their credit report if there are problems.
• Credit Unions "have gotten so big they're getting like a bank now" says David - and they continue talking about Fraser Smith's "Smith Manoeuver" book, based on David Ingram's technique of making your mortgage tax deductible.
• Mortgages vs. Line of Credit Glen gives an excellent overview of the contrast between these two - and gets into fixed and adjustable rates.
• Pay your morgage instead of purchasing an RRSP. "Do the simple math"
• There's a "food gene" running in our family - David and Glen share some memories. Discussion of the recent rise in housing prices in the Vancouver area.
• Glen discusses "new Canadians" establishing a credit rating. Rental offset in using a basement suite as a mortgage helper.
• David takes a phone call - Dual US/Canadian citizen with a stock award. The question has to do with tax implications of the ways a stock award vests. A restricted stock unit vs straight award.
• A second question - regarding a 401K now that he is a Canadian resident there are problems with having his broker (in the US) continue to handle the account
• David takes a question from a lady in Manitoba regarding her holding of a US property. She has a US Green Card. The discussion is about becoming a US citizen. Form I131 to keep the green card alive.
• Continuation of the discussion on getting US citizenship
• Wrapping up - a continued discussion of David's bankruptcy which includes some details on how he ended up getting 1/2 of his assets back after his divorce, shortly after the bankruptcy ended.
• An insight into Glen's ability to deal with clients from places other than his office. "Safe from the swine flu" and able to deal with times outside of normal office hours.

Tag: mortgage, tax deductible, bankruptcy, credit, rebuild credit, personal finance, finance