I am not part of this group, however a home owner in Toronto. I remember purchasing my first home off a blue prints in Ajax almost 15 years ago. I cannot imagine the stress that these families must be going through. Hopefully my signature will help and allow them to receive some type of relief from Mattamy. Mattamy Homes should subjected to the same market fluctuations as everyone else is.
A
Anonymous
8 years ago
Mattamy are the scum of the earth.
A
Anthony Cirelli
8 years ago
This group of buyers highlights the drastic and overwhelming effects of the hastily introduced federal mortgage lending guidelines recently implemented. The stress test will negatively impact real estate values in addition to potentially curtailing a large percentage of current and future real estate transactions for consumers across most all income groups. Any requested guideline changes will be slow to come, if at all. Requested government intervention in order to create a fairer and more accountable system for the benefit of both the consumer and related building associations will be hard fought to achieve. Although I have been fortunate in my timing of buying real estate in past years, I presently have approx. 20 clients who find themselves in similar financially crushing scenarios and to all those affected, you have my sincere sympathies. My name is Anthony Cirelli and I have been a practicing Mortgage Broker over the last 20+ years. I am one of a handful of agents and brokers in Ontario who have access to a major institutional and local lender who qualifies Conventional Mortgage applicants (80% of the purchase price/value) AT THE CONTRACT RATE, offering comparative bank rates, thereby increasing an applicant's mortgage loan amount by up to 20% greater than what the banks can offer, as Banks are mandated to qualify at the Stress Test rate. If any person wishes to explore this option further, there is no obligation other than sending an email to me directly and perhaps a follow up phone conversation thereafter. For those members of the group involved in the Mattamy Preserve Oakville development, I do wish to offer my help where applicable and am prepared to WAIVE ALL FEES FOR MY SERVICE. I can be reached at acirelli@rmabroker if you wish to discuss the matter further. Hoping for better luck for you all, moving forward.
M
Maria
8 years ago
There should be a Facebook page made or something to unite everyone!!
A
Anonymous
8 years ago
Mattamy should do something about this. People are losing their homes and their money which they worked many years to save up for their families. Their motto is “we help build communities and homes, we’re with you every step of the way”
What a joke!! And the government should definitely step in to help!
J
Jatinder Singh
8 years ago
Mattamy,
Please help the families affected. By matching the prices won't make much dent in your profits.
A
Anonymous
8 years ago
Governments, Builders, Banks and Purchaser all need to seat down and plan a way out rather than simply punishing the purchasers
G
goo man
8 years ago
This is 100% the governments fault. They should of known that people would sign contracts without reading them. govt needs to enact legislation to let people back out of contracts and govt to subsidize litigation costs
N
NB
8 years ago
Featured
The builder has the right to cancel a project and give back deposits with no interest if they cannot get financing for a project.
But the buyer has zero rights- something is wrong here
Mattamy should really work with buyers and do the right thing.
A
A A
8 years ago
Why would you purchase a home you cannot afford in the first place?
C
Carlos Sanchez
8 years ago
buyers of pre-construction Mattamy Preserve lot 105.
A
Anonymous
8 years ago
Governments, Builders, Banks and Purchaser all need to seat down and plan a way out rather than simply punishing the purchasers.
T
tony long
8 years ago
suckers
M
Marc Atkins
8 years ago
Has anyone looked into a class action lawsuit against the ontario government?
E
Eugene
8 years ago
We bought a pre-construction home in February last year from Vogue Homes in Vaughn. The contract price was 1.3M. Our property value was 1.3M. No gap. No more debt. Now our property value dropped 300K. The stress test has cut our borrowing power by about 20 per cent. We can borrow less 150K than we were qualified last year. More over, new taxes changes for small corporations make our family to pay double taxes than we paid before. How can I honour my contract if I am short about 500,000 bucks?!!!!!
T
These
8 years ago
Builders should treat the buyers fairly. Government should come up with a plan. You are making money out of the foreign buyer tax plan. Ordinary people (not the flippers) need help.
H
Hong
8 years ago
There is potential solution for the Mattamy Preserve Buyer on last Spring:
1. Unite all buyers tonight, get a good lawyer and come up with effective strategic
2. All buyers claim not going to close the house, unless new agreement is reached.
3. If there are only 10 buyers not close the houses, then Mattamy won't settle with buyers. However,
If there are 20 buyers, then Mattamy will serious consider new agreement.
4. Unite together and good luck
A
Anonymous
8 years ago
Potential solution for the buyer:
1. Unite all the Mattamy Preserve buyers, hire one good lawyer for the negotiation
2.All claim not to close the house unless renegotiate price or other have new settlement.
M
Mike from Canmore
8 years ago
Just read the Toronto Star article - those poor people that are stuck in the "impossible" (yet easily historically foreseen) problem of being on the wrong side of a market bubble, and who are now trying to get out of legally binding contracts because they gambled and lost. It's not the government's job to use taxpayer resources or time to bail out the bad decisions of purchasers in the private market.
This is so unfair! Good luck with your fight.
I am not part of this group, however a home owner in Toronto. I remember purchasing my first home off a blue prints in Ajax almost 15 years ago. I cannot imagine the stress that these families must be going through. Hopefully my signature will help and allow them to receive some type of relief from Mattamy. Mattamy Homes should subjected to the same market fluctuations as everyone else is.
Mattamy are the scum of the earth.
This group of buyers highlights the drastic and overwhelming effects of the hastily introduced federal mortgage lending guidelines recently implemented. The stress test will negatively impact real estate values in addition to potentially curtailing a large percentage of current and future real estate transactions for consumers across most all income groups. Any requested guideline changes will be slow to come, if at all. Requested government intervention in order to create a fairer and more accountable system for the benefit of both the consumer and related building associations will be hard fought to achieve. Although I have been fortunate in my timing of buying real estate in past years, I presently have approx. 20 clients who find themselves in similar financially crushing scenarios and to all those affected, you have my sincere sympathies. My name is Anthony Cirelli and I have been a practicing Mortgage Broker over the last 20+ years. I am one of a handful of agents and brokers in Ontario who have access to a major institutional and local lender who qualifies Conventional Mortgage applicants (80% of the purchase price/value) AT THE CONTRACT RATE, offering comparative bank rates, thereby increasing an applicant's mortgage loan amount by up to 20% greater than what the banks can offer, as Banks are mandated to qualify at the Stress Test rate. If any person wishes to explore this option further, there is no obligation other than sending an email to me directly and perhaps a follow up phone conversation thereafter. For those members of the group involved in the Mattamy Preserve Oakville development, I do wish to offer my help where applicable and am prepared to WAIVE ALL FEES FOR MY SERVICE. I can be reached at acirelli@rmabroker if you wish to discuss the matter further. Hoping for better luck for you all, moving forward.
There should be a Facebook page made or something to unite everyone!!
Mattamy should do something about this. People are losing their homes and their money which they worked many years to save up for their families. Their motto is “we help build communities and homes, we’re with you every step of the way” What a joke!! And the government should definitely step in to help!
Mattamy, Please help the families affected. By matching the prices won't make much dent in your profits.
Governments, Builders, Banks and Purchaser all need to seat down and plan a way out rather than simply punishing the purchasers
This is 100% the governments fault. They should of known that people would sign contracts without reading them. govt needs to enact legislation to let people back out of contracts and govt to subsidize litigation costs
The builder has the right to cancel a project and give back deposits with no interest if they cannot get financing for a project. But the buyer has zero rights- something is wrong here Mattamy should really work with buyers and do the right thing.
Why would you purchase a home you cannot afford in the first place?
buyers of pre-construction Mattamy Preserve lot 105.
Governments, Builders, Banks and Purchaser all need to seat down and plan a way out rather than simply punishing the purchasers.
suckers
Has anyone looked into a class action lawsuit against the ontario government?
We bought a pre-construction home in February last year from Vogue Homes in Vaughn. The contract price was 1.3M. Our property value was 1.3M. No gap. No more debt. Now our property value dropped 300K. The stress test has cut our borrowing power by about 20 per cent. We can borrow less 150K than we were qualified last year. More over, new taxes changes for small corporations make our family to pay double taxes than we paid before. How can I honour my contract if I am short about 500,000 bucks?!!!!!
Builders should treat the buyers fairly. Government should come up with a plan. You are making money out of the foreign buyer tax plan. Ordinary people (not the flippers) need help.
There is potential solution for the Mattamy Preserve Buyer on last Spring: 1. Unite all buyers tonight, get a good lawyer and come up with effective strategic 2. All buyers claim not going to close the house, unless new agreement is reached. 3. If there are only 10 buyers not close the houses, then Mattamy won't settle with buyers. However, If there are 20 buyers, then Mattamy will serious consider new agreement. 4. Unite together and good luck
Potential solution for the buyer: 1. Unite all the Mattamy Preserve buyers, hire one good lawyer for the negotiation 2.All claim not to close the house unless renegotiate price or other have new settlement.
Just read the Toronto Star article - those poor people that are stuck in the "impossible" (yet easily historically foreseen) problem of being on the wrong side of a market bubble, and who are now trying to get out of legally binding contracts because they gambled and lost. It's not the government's job to use taxpayer resources or time to bail out the bad decisions of purchasers in the private market.