Mortgages and Tinder

Tracy Head • March 10, 2023
What do the two have to do with each other? This week I learned a new term – Tinder Swindler...


This comes from a Netflix movie about a fellow in Europe who duped numerous women out of money by borrowing funds with promises to repay them. This is a con that has been around forever in different forms but the increased prominence of online dating has really extended the hunting grounds for people that are looking for their next mark. In the olden days (like when I was young) this scam looked more like a wealthy older man being taken advantage of by a much younger woman. This was the stereotype in any case. This profile has now changed and the swindlers come in many different forms and of all ages. Although what follows is going to feel like I’m hammering one gender over the other, believe me the con comes from both genders. My hunch is that when men have fallen prey to these scams pride prevents them from disclosing.


Over the last few weeks years I have worked with three different women who have been conned out of thousands of dollars by men they met through online dating portals. In all three cases these are strong, independent women who work hard and have always taken care of business. All three own their own homes and have great jobs and clean credit. The game starts easily enough. They each met someone who seemed like a great partner. He was charming, caring, and seemed to have his act together. One case started with a request to borrow cash as the partner was in a bit of a jam. Then, in all three cases, for one reason or another the new partner couldn’t seem to hold down a job. In one case the partner was starting a new business and just needed some cash to get things off the ground. In one case the new partner used her computer to apply for additional credit and intercepted the mail before she knew she had new cards coming. It goes without saying that in all three cases the women are left holding the bag with no hope of recovering any of the money they are owed.


For two of these women we were able to refinance their homes to consolidate all of their debts, but for

the third she found herself in the horribly difficult position of having to sell her home. After three years

of hard work she was able to buy a home again but this was definitely a huge hit to her retirement plans.

Before you are tempted to judge these women for allowing themselves to be victimized, understand

that none of the three are stupid women. They were trusting to a fault, and never thought for a minute

that their partner was anything other than the front that they saw. This is intended as a cautionary tale. If you are early on in a relationship and your new partner is looking to borrow money or asking for you to apply for credit on their behalf, open your eyes.


Trust your gut. Question why they are in the situation they are in. Get the details. Don’t be afraid of difficult conversations to get to the truth. Life happens to us all, and sometimes things are as they seem. However, if you are in a relatively new relationship and your partner is looking for money … think long and hard. It’s a slippery slope. One woman said to me “In for a penny, in for a pound. I kept hoping things would turn around and if I held out he would pay me back. In fact it just cost me more money.”

If you find yourself in this situation, I urge you to make a move and get help sooner rather than later. There are often options you are not aware of so you need to make changes as soon as possible so your credit and financial situation are not compromised.


On a different note, if you own a home you should have received mail from the provincial government asking you to complete a declaration regarding the Speculation Tax. Make sure you take care of it before the March 31 2023 deadline or you may receive a tax bill of up to two per cent of the value of your home.

Tracy Head

Mortgage Broker

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Refinance to Consolidate debt

By Tracy Head • May 30, 2026
When Debt Keeps You Up at Night, Your Home Equity May Offer a Way Forward As a mortgage broker, I’ve sat across the table from hundreds of Canadians carrying more stress than they let on. Sometimes it starts with a few credit cards after the holidays. Sometimes it’s a line of credit that slowly grows over time. Other times it’s unexpected life events — job loss, divorce, rising grocery bills, helping adult children, or simply trying to keep up in an increasingly expensive world. What many people don’t realize is how common this has become. There is often a quiet sense of shame attached to consumer debt. People feel embarrassed admitting they’re struggling, especially if they’ve always been financially responsible. I regularly hear clients say things like, “I never thought I’d be in this position,” or “I feel like I’ve failed.” But needing help does not mean you’ve failed. It means you’re human. One of the most effective tools available to homeowners is refinancing a mortgage to consolidate high-interest debt. By using equity in the home to pay off credit cards, personal loans, or lines of credit, many Canadians are able to dramatically lower their monthly payments and finally breathe again. The financial math is straightforward. Credit cards often carry interest rates around 20 percent or higher. Mortgage rates are typically much lower. Rolling multiple high-interest debts into one manageable mortgage payment can free up monthly cash flow and reduce financial pressure almost immediately. But the emotional impact is often even more important.  I’ve watched clients physically relax during meetings once they realize there is a realistic path forward. Instead of juggling minimum payments and watching balances barely move, they regain a sense of control. They sleep better. Relationships improve. The constant anxiety starts to ease. The key, however, is timing. Too many people wait until they are already in serious financial trouble before exploring refinancing options. They drain savings, miss payments, max out credit cards, or fall behind on bills while hoping things will somehow improve on their own. Unfortunately, once credit scores begin to drop significantly, refinancing becomes more difficult and more expensive. That’s why I encourage homeowners to have the conversation early — before missed payments happen, not after. A strong credit profile gives borrowers more options, better rates, and greater flexibility. Waiting too long can limit those choices considerably. Seeking advice early is not a sign of weakness; it’s smart financial planning. It’s also important to understand that refinancing should not be viewed as a “last resort.” In many cases, it is simply strategic debt management. Business owners do it. Professionals do it. Young families do it. Retirees do it. Millions of Canadians have used the equity in their homes to simplify their finances and regain stability. Of course, refinancing is not a magic solution. It works best when paired with honest budgeting and a commitment to avoiding the same debt cycle moving forward. But for many homeowners, it can provide the reset they desperately need. If you are losing sleep over debt, know this: you are far from alone, and there are often more options available than you think. The hardest part is usually making the first phone call.

Importance of a PreApproval

By Tracy Head • May 16, 2026
There’s a moment I see all the time in this business. A buyer walks into an open house “just to look,” falls completely in love with the place, and by supper time they’re talking about writing an offer. It’s exciting. It’s emotional. And sometimes, it’s exactly where people get themselves into trouble. I can tell you one of the smartest things a buyer can do before house hunting is get a proper mortgage pre-approval in place. Not the casual “I think we qualify for around this amount” conversation. I mean an actual reviewed pre-approval with income, down payment, credit, and monthly budget all looked at carefully. Because once you’re standing in someone else’s dream kitchen imagining where your coffee maker will go, logic has a funny way of leaving the building. A pre-approval does a few very important things. First, it tells you what a lender is likely willing to lend you. That sounds obvious, but many buyers are shocked to discover that what they want to spend and what the bank is comfortable approving are two very different numbers. Second, it helps you shop with confidence. In competitive markets, sellers take pre-approved buyers much more seriously. A seller who has two similar offers in front of them will almost always feel more comfortable with the buyer who already has financing lined up. But here’s the part I think matters even more — a pre-approval gives you the chance to figure out what home ownership will actually feel like every month. And this is where many people make a mistake. They focus only on the mortgage payment. The mortgage payment is important, of course, but it’s only one piece of the puzzle. Before writing an offer, buyers should sit down and calculate the total monthly cost of the home. That means including: Mortgage payment Property taxes City utilities Home insurance Strata fees, if applicable Heating costs Potential maintenance expenses Because the difference between “technically approved” and “comfortably affordable” can be huge. Let’s use a simple example. Suppose you purchase a home for $650,000 with a reasonable down payment. At current interest rates, your mortgage payment might land somewhere around $3,100 per month. At first glance, that may seem manageable. But then we add: Property taxes: $350/month Utilities: $200/month Home insurance: $140/month Strata fees: $450/month Suddenly the true monthly housing cost is closer to $4,240 per month. That’s a very different conversation. And if you haven’t done those calculations ahead of time, you may find yourself house-rich and lifestyle-poor after possession day. I often tell clients this: your home should support your life, not consume it. You still want room for groceries, kids’ sports, travel, retirement savings, and the occasional dinner out where nobody has to do dishes afterward. Another benefit of getting pre-approved early is discovering issues before they become emergencies. Sometimes we uncover small credit issues, missing documents, or income challenges that can be fixed with a little planning and time. It’s much better to solve those things before you fall in love with a home than three days before financing conditions are due. And please remember — just because a lender says you qualify for a certain amount does not mean you have to spend that much. Some of the happiest homeowners I know bought below their maximum approval and left themselves breathing room financially. Funny enough, those are usually the people sleeping best at night when interest rates rise or life throws a curveball. Buying a home should feel exciting, not terrifying. So before you start measuring living rooms for sectional sofas or debating paint colours, take the time to get a proper pre-approval completed and run the real monthly numbers carefully.  Future-you will be very grateful.