Can I see your license?

"(Licenses) are the 'it' factor when you are looking for a mover," says Stephen Bienko, owner of College Hunks

Moving of East Hanover, N.J.

A moving company's licenses and other requirements will differ depending on whether you are moving within your

state or to another, notes David Hauenstein, a vice president with the trade group the American Moving and

Storage Association, or AMSA.

To do business across state lines, the mover must be licensed with the federal government and have a U.S.

Department of Transportation, or DOT, number. You can find out if an interstate mover meets the requirements by

calling the Federal Motor Carrier Safety Administration or by looking up the moving company on the agency's

website, ProtectYourMove.gov.

For local moves within the same state, AMSA recommends you contact your state moving association to check on

a mover's licenses and other requirements, which may differ from state to state.

Go local or go national?

"We often have very good luck getting problems resolved by local owners that may go unanswered by a large

corporation," she says.

However, just because you liked the mom and pop mover for your local move doesn't mean the company has the

appropriate licenses or experience to cross state lines.

Smaller companies may hire day labor or temps who are untrained or unknown to the company, which can result

in problems if there is any loss or damage, says Jim Lockard, owner of Denver-based moving company JL

Transport. But he adds that large companies may not offer the crews, insurance and services you need and can

sometimes transfer your property to another company or crew during transit.

"In the middle is a company that assigns permanent employees to travel with your property," Lockard says. "Good

research of the history (of the company) can avert problems and losses."

Do some detective work

Make sure you check government and independent sources -- not just the mover's website -- to verify licenses and

references, says Hauenstein. While the mover may boldly claim on its website to have the right credentials, that

may not be the case. "We find instances of movers using the BBB (Better Business Bureau) and AMSA logo, but

they aren't members," he says.

Do some digging of your own on a mover's social media pages, such as Facebook, to read comments from

customers. Also check testimonials on Angie's List, Yelp, Google Places and MovingScam.com. You might try an

online search pairing the company's name with the word "complaints" to find any blog posts about bad customer

experiences with a specific moving company.

"Every company has a few tough clients that may have felt they did not have the experience they were looking for,"

says Bienko. "However, take the average and base your decision on that."

Get an estimate, and get it in writing

You should get estimates from more than one moving company, says Lamoureux. And make sure those

estimates include everything in your home you want moved.

"That includes things in the attic, garage, backyard, shed, crawl space, basement, underneath and behind

furniture, and inside every closet and piece of storage furniture," she says. If you point to several things during the

estimating process and say, "That will be gone before the move," and they are not, your cost will be higher, she

says.

The Federal Motor Carrier Safety Administration, or FMCSA, recommends that the estimate be in writing and

clearly describe all the charges. Do not accept verbal estimates.

Along with a binding estimate, the FMCSA recommends that you get these additional documents from the mover

on moving day:

• Bill of lading -- a receipt for your belongings and a contract between you and the mover. Do not sign it if there's anything in there you don't understand.
• Order for service -- a document that authorizes the carrier to transport your household items from one location to another.
• Inventory list -- a receipt showing each item and its condition prior to the move.

Be assured you're insured

While your mover is liable for your belongings as they're being handled and transported by the company's

employees, there are different levels of liability, or "valuation," says Hauenstein. "You need to understand the level

that will apply for your move."

Under federal law, interstate movers must offer their customers two different insurance options: "full value

protection" and "released value."

Under full value, a more comprehensive insurance that will cost you extra, the mover is liable for the replacement

value of any item that is lost or damaged during the move.

Released value protection comes at no additional charge and offers limited liability that will pay you just 60 cents

per pound for any items that disappear or are harmed.

You may opt to purchase your own separate insurance for the move. Or, your furniture and other stuff may already

be covered through your existing homeowners policy.

In-state movers are subject to state insurance requirements, so make sure you ask about coverage when using a

local carrier.

Don't ever sign anything that contains language about "releasing" or "discharging" your mover from liability.

See link below for more details:

http://firsttimehomebuyersseminar.eventbrite.com/

By: Maya Millar | HGTV

You’ve taken the plunge and purchased your first home. While you may want to furnish every room immediately,

the wisest thing you can do is take time to properly budget and plan for everything you’d like to do in your home

over the next few years. Not to despair; there are a few essentials you can invest in now that will make your first

house truly feel like a home.

Lighting
A good lighting scheme can make or break a place. Consider what type of fixture you’d like in the each room. A

quick change that will allow you to instantly change the mood of a space is to install dimmers on your lights.

Another inexpensive way to play with your lighting is to invest in some clean-lined candle holders (simple clear

glass holders are always classic) and a substantial supply of white candles. If you tend to host dinners or parties

that last for hours, consider votives instead of tealights (votives burn longer than tealights so you can spend the

evening with your guests rather than replacing tealights throughout the night).

Towels 
Stocking your linen closet with a full set of thick, luscious quality towels, is worth the comfort and pleasure you’ll

get from them every day. The best way to shop for towels is to touch them in the store and examine the texture;

look for a heavy weight all-cotton terry that is soft against your skin. In terms of colour, white is classic and clean,

but if your bathroom is neutral, adding a juicy vibrant shade of towels is a simple, noncommittal way to experiment

with colour. And while you’re in the linen department, pick up some cloth napkins—they’re more eco-friendly than

the paper variety and will add polish to your table setting.

Cutlery
The mismatched set you own does have a certain charm for a more whimsical place setting, but a proper set of

cutlery is essential if you plan on hosting dinner parties in your new home. Besides looking for a design you like,

pick up the cutlery to check if its weight is pleasing to use. A basic set of quality knives will also do you well. A

chef’s knife, a paring knife and a bread knife is all most of us need.

Kitchen Tools
What gadgets you need in your kitchen depends on your cooking and entertaining habits, but a few must-haves

include: a rabbit-ear style wine opener, a salad spinner, an electronic can opener and a knife sharpener.

Sofa
If you’re still using the old couch from your parents basement or that starter couch from your very first apartment,

it’s time for an upgrade. This is a substantial buy but It’s worth investing in now as you use it everyday, from

reading the newspaper to catching your favourite TV show, and it will help establish your living area. Check for

comfort and size (ensure it fits not only the space you’ve set out for it, but that it can also get through the doorway

and stairwell to your place), but also ask about the sofa’s frame (a hardwood frame is preferable) and springs

(avoid the wire coil type).

By Bethany Lyttle | Forbes

Selling your home this summer? Cheap tweaks can pay off big-time. "And even when these don't equate to big

dollars, they may help sell your property faster," says Adam Hade, an associate broker with Houlihan Lawrence in

southeastern New York state.

But choosing which improvements to make is where many homeowners go wrong, according to Hade. "They over-

improve or improve in ways that don't really matter to the buyers in their particular area," he says. Exactly the

reason you should consult with a qualified realtor in your neighborhood before investing in any improvement

projects. They can tell you if buyers are looking for nurseries or extra bedrooms and can actually save you money

by preventing well-intended but unnecessary upgrades.

One such superfluous improvement is splurging on high-end kitchen appliances. "While a buyer may appreciate

chef-quality ranges or top-of-the-line fixtures, a well-kept lower-price brand will rarely break a deal," says Hade.

"On the other hand, worn carpet, dirty grout and clutter will give the impression that the house is not well-

maintained and lacks sufficient storage," he adds. Details like these make it difficult—and even impossible—for

many prospective buyers to envision themselves living there.

A home's layout is another adjustable feature sellers should take advantage of. Dina Landi of Rebecca Riskin &

Associates in Montecito, California, suggests reconfiguring your home's layout to meet market demands.

Substituting one room's use for another is a cheap way to transform a three-bedroom home with a den to a four-

bedroom home. Or a home that has a dining room with doors can be reconfigured for use as a main floor master

bedroom.

Landi also recommends pausing to inventory all the things you've collected over time and reassessing what to

keep. As life unfolds, as children grow up, as careers take off, things accumulate. "Taking rooms back to their

basics can make a huge difference, allowing a room's millwork, architectural details, and distinctive details to

shine," she says. The price? Almost zero. All you have to do to make your rooms look bigger is remove pictures,

souvenirs, all those stacks of books and magazines.

The best way to improve home values on the cheap is to do what needs doing—and nothing more. Why buy a new

ceiling fan when replacing the blades will do? Why paint the entire exterior of your home when touching up any

peeling paint will suffice?  Taking this approach allows you to make several small improvements instead of taking

on just one or two bigger ones. In short: Know your buyers. Choose projects carefully. Know when to quit.

By IAN BAILEY AND SARAH MACWHIRTER - Globe & Mail

Pamela Anderson, who found global stardom for her role as lifeguard C.J. Parker in TV’s Baywatch, is taking

another shot at development in her hometown of Ladysmith.

Ms. Anderson, also prominent in the animal-rights movement, told The Globe and Mail she is hoping to break

ground on a small “eco property” in Ladysmith, where she tried to develop a condominium-townhouse project in

2008.

“I hope to break ground really soon,” she said during a cocktail party before a sold-out $500-a-plate dinner and

private concert for the David Foster Foundation last week.

However, Ms. Anderson did not provide any further details on the project in Ladysmith, located between Nanaimo

and Duncan. She noted that she had started a sustainable design firm.

Ms. Anderson said she does not know how much longer she wants to stay in “the business” of entertainment, but

that she will do a few films for Canadian friends.

Ms. Anderson follows the pattern of other B.C. entertainment celebrities who got into real estate. Michael Bublé

and Jason Priestley are among those who have backed such projects in recent years.

This is a second shot at a development in the Ladysmith area for Ms. Anderson. In 2008, she teamed up with a

friend, former NHL player Geoff Courtnall, to plan an 83-unit development on family property.

The project called for 72 condominiums in three separate buildings and three other buildings with 11

townhouses. There would also have been moorage for 16 to 18 boats.

Mr. Courtnall has said Ms. Anderson backed out after the market slowed down. In April, 2011, he told The Globe

and Mail he hoped the timing would be right eventually for another such effort.

Bill Drysdale, a city councillor in Ladysmith, said on Wednesday that he expected any proposal from Ms. Anderson

would get a fair hearing before council whenever it was submitted.

“They will come in with their proposal and we will have a look. I am pretty sure we will look at it positively,” Mr.

Drysdale said.

Mr. Drysdale said Ladysmith is well aware of Ms. Anderson’s links to their community of about 7,000. “We have a

picture of her in our new museum on First Avenue to highlight that she is a daughter of Ladysmith,” he said.

He recalled that Ms. Anderson and Mr. Courtnall were diligent about modifying their earlier proposal to

accommodate concerns by Ladysmith residents. Council eventually backed the project.

It isn’t clear whether Ms. Anderson is aiming to develop her new project on the same property.

By Mark Weisleder | Moneyville

One common question asked by landlords are the rules that surround the sale of their property and tenants. The

main question is “Can I evict the tenant before I sell, so that I can fix it up?” The short answer is no.

If you want to sell a rental property, the first issue is does the tenant have a lease? Let’s say there is a lease and

the tenant has eight months remaining. They cannot be evicted before the end of their lease, just because you

want to sell. You can sell, but the buyer must agree to let the tenant stay. In addition, if the tenant has the right to

renew their lease, then you and any buyer will have to honour that as well.

If the tenant is on a monthly tenancy the only way to evict them is if the buyer is moving into the house on closing.

Therefore, you must sign an agreement with a buyer before you can start the eviction process. Then you must give

the tenant at least 60 days notice before the end of a month, assuming the tenant pays on the first of the month. 

For example, you sign an agreement with a buyer on June 15. On June 16, the owner can serve the tenant with a

60 day notice to terminate, that cannot take effect before Aug. 31. The closing date in your agreement should be

scheduled for Sept. 30 to make sure the tenant has vacated.

If there are concerns the tenant will not leave, a hearing should be scheduled before the landlord and tenant board

as soon as possible so that an order for eviction can be obtained, if necessary. Tenants are often suspicious that

the buyer will not move in, and will merely find a new tenant who will pay more rent. If a seller or buyer is caught

tricking the tenant into leaving early, then the penalty can be as high as $25,000.

There are also rules relating to showings and open houses. A tenant must be given 24 hours written notice before

an owner can show the property to a potential buyer. The time period must occur between 8 am to 8 pm. The

tenant does not have to leave the home. However, if the tenant agrees to a different time, or a shorter notice

period, that is OK. In my opinion, an open house that typically lasts two or more hours would not be permitted

unless the tenant agrees to it.

If you want to evict the tenant before you put the house up for sale, the only way is to reach an agreement with the

tenant to leave early. You may be able to accomplish this by assisting the tenant in finding another place to live

and paying part or all of the moving costs. By doing this, you will have the opportunity to then fix your home up

before putting it up for sale, thus potentially attracting more buyers. You will also not have to worry about notices or

eviction notices.

In all cases, it is best to inform the tenant in advance of your plans to sell the home. When you work with the

tenant, then you should have no problems with showings and then closing your home sale.

Buyers, if you are assuming any tenant and you are thinking of moving in later, make sure you find out all of the

details of any lease in advance, as you will have to honour it as well.

When all parties are properly prepared and informed, selling properties with tenants becomes a less stressful

process for buyers, sellers and tenants.

By Stephanie Holmes-Winton, personal finance expert

You gotta love a girl who grew up as one of the richest kids in the world (in one of the richest homes in the world –

a 57,000 sq ft mansion, known as “The Manor,” that went on the market for $150 million in 2009), yet refused to

bank on her parents’ money. Indeed, when her father - television mogul Aaron Spelling - passed away, she

reportedly got less than $1 million of his $500 million estate.

So it’s even more refreshing that Tori Spelling and husband Dean McDermott continued to surprise a lot of people

when they put their “mini-mansion” in Encino up for sale and moved into a much smaller home in Malibu. What

was Tori’s reasoning behind this decision? Given the costly Malibu real estate market, the new home has been

reported to cost about as much as the sale price of the former home, so it can’t be money; but it is remarkably

smaller (around 2,300 square feet). Indeed, Tori and Dean reportedly wanted a cozier home so their growing

brood wasn’t stretched over so much space. They wanted to make sure that as a family of five, they were together

most of the time when at home. They also wanted to have more animals, thanks to the new nearly 2-acre property

(have you seen the mini farm they had hidden in the backyard of their old place?), so their children would grow up

learning to care for other living things. How awesome is that?

Most of us have heard of downsizing once the kids fly the coop so we don’t end up rattling around a big old empty

house. But what about early life downsizing? What about seizing the opportunity to look at what you really want

from your life now? You might just find that for you too, less house could equal more of the life you want.

What could you do with less house?

Less to dust is just the beginning of the possible upside to downsizing much earlier in life. A smaller pad can

happen for all kinds of different reasons, the most important of which should be that it helps you to fulfill your true

desires in life.

Think about it…

• What freedoms could you experience from less house?

• What family time could you recapture?

• What money could you save for fulfilling life goals and experiences?

With that in mind, let’s start by exploring some financial benefits to downsizing:

• Less to clean. Whether you are a DIY duster or have a cleaning lady, time and money can be saved when 

  there is less space to clean.

• Shrink your mortgage. If downsizing results in the purchase of a less expensive home, you can shave years 

  off your repayment clock and save thousands in interest on dollars you no longer have to borrow.

• Less to heat. If you are strategic about it, you may be able to find a home that not only has less space to 

  heat, but also one with the most efficient type of heating.

• Lower property taxes. Generally, if you purchase a less expensive home, you could save some serious 

  dough on municipal taxes.

And what about the lifestyle benefits?

• Location, location, location. Downsizing may mean you can afford a home in a more convenient location to 

  reduce your commute. Perhaps you can move somewhere that allows you to walk to the grocery store or use 

  the subway.

• Purge. Too many of us are drowning in stuff. There are way too many TV shows about money being spent on 

  storage lockers filled to the brim with stuff – and then abandoned for other people to bid on. How crazy does 

  that sound when you really think about it? Indeed, how freeing would it be to rid yourself of things you don’t 

  need; you may not even realize what’s bogging you down until you just let go.

• Life lesson. Let’s be frank, kids don’t model the things you say, they copy what you do. Consciously opting for 

  less space can teach your kids a valuable lesson about what’s really important in life.

• Together time. Think about time at the cottage vs. time at home. A smaller space means that the family just 

  can’t get quite so spread out. By the very nature of the space, you end up together more.

Smaller doesn’t mean cheaper

Be careful. Even if you decide to downsize, it doesn’t mean you’ll automatically spend less. It’s easy to rationalize 

renovating a smaller space and get carried away fixing up your smaller abode to run more efficiently (cool

containers, shelves, and closet organizers really add up). And don’t forget to factor in moving costs, including real

estate fees, land transfer tax, furnishings that may need to be given away or sold (and replaced with more

compact alternatives), among other often unexpected expenses.

Instead of jumping right in, take the time to live in the smaller space so you can make strategic purchases. Set a

monthly limit on how much you will spend each month getting your new place sorted out. Don’t assume the rooms

or closets must be used for the same purposes as the last homeowner. A smaller kitchen may come without a

pantry, but a conveniently located coat closet may make a great alternative that you can convert with some

inexpensive shelving.

Where life meets money, true planning begins

Taking your family down a couple of hundred, or a couple of thousand, square feet isn’t for everyone. But it is a

great option that far too many of us leave off our list of possibilities until our golden years. We can all live our own

definition of success, and it doesn’t have to include a large home.

It comes down to asking yourself what you really and truly want from your life. If downsizing could help you achieve

that, do your homework, make a plan – and start thinking small!

By: The HGTV.ca

Buying a vacation home can be very rewarding, both personally and financially, but it’s certainly a big decision!

Before making any sudden moves, take the time to engage in some thorough research, organize your finances

and choose a trustworthy professional. For more leisure property buying tips, read on:

1. Do Your Homework: The very first step to finding the ideal vacation home isn’t particularly glamorous. You’ve got to do your research! This means reading the classifieds, searching the internet and looking at maps. Jot down ideas and information in a notebook or computer file and save these for future reference.
   
   
2. Go for a Drive: Continue the initial groundwork by going for an exploratory drive and identifying the towns, counties or regions that feel right for you. How far are you willing to drive? What kind of amenities do you want to have close at hand? What locations truly appeal to you? You don’t need to make any major decisions at this point, but should begin organizing your search criteria.
   
   
3. Be Realistic: Ask yourself a few tough questions, such as:
   • How often you will be using the property?
   • Should you buy or lease?
   • How will you finance your purchase or lease?
   • Can you afford the mortgage, property taxes and upkeep of a second property?
   • Do you see this purchase as an investment or simply as a summer home?
4. Narrow it Down: If you were able to get past number 2, then you’re well on your way to becoming a vacation property owner! Now it’s time to think about location, property and structure type. According to Terry Bryan, a real estate agent in the Rideau Lakes area of Eastern Ontario (thecottageguy.com), it’s important to look for a place that is fairly close to a few conveniences, such as a small town and/or grocery store – unless you really like roughing it! You should also clearly set priorities. “For example, establish whether you’re looking for privacy, which means trees and weeds on a waterfront would be okay, or if a clean shoreline, with less privacy is more important,” says Bryan. 
   
   
5. Rent to Own: Once you decide on a location, you may want to consider renting a cottage in the area of your choice to get a true sense of its amenities and ambiance. This is not a must-do, especially if you’re in a rush to purchase, but can certainly make coming to an informed decision much easier.
   
   
6. Find an Agent: You’ve established your main guidelines and requirements. Now it’s time to find someone who can help make this dream a reality. “You should find a local agent,” says Bryan. “The best thing to do is visit the place where you are wanting to by a property. Almost every local office has listings and information posted in their window, and you can go from there.” Local agents tend to have thorough knowledge of specific areas, and can easily help you sift through the merits of various properties. They will also likely be available to you when you want to go view a property, which means no waiting or rescheduling. 
   
   
7. Choose to Invest in the Future: Are you looking at your vacation home from an investment or purely a recreational perspective? It will benefit you in the long run to make a concerted effort to understand the profit potential of this venture. As you search for your second home or property, keep resale value in mind. Try to get an idea of the future of the area you may be buying in, and make sure your purchase possesses as many distinctive features as possible. 
   
   
8. Establish Price Point and Timelines: Work with your agent to establish your price point, and the timeline during which you are hoping to purchase your vacation home. Be honest with yourself about how much you can afford. If a turn-key cottage with a gorgeous boat house is attracting you, but the price seems a bit steep, think about a ‘fixer-upper’. If you’re patient, you can do the work yourself, over time. Also, if the prospect of waterfront taxes is getting you down, consider purchasing a property with shared water access, which will cut costs dramatically.
   
   
9. Identify and Clear Up Accessibility Issues: You need to be fully aware of what you’re buying, says Bryan. “Make sure you can get access to a survey, so you know that you have complete access to the land, and don’t have to cross someone else’s property to get to it. Ask a local lawyer to check out the survey for you. ” You should also find out if the main road leading to the property is maintained year round. If it isn’t, you likely won’t have access to your property for a great deal of the winter and early spring. Island properties can also pose barriers in terms of access, so take all variables into account.
   
   
10. Go For It! The time has come to make your move. Work closely with your agent to draw up an offer that protects you and your investment. Secure financing, get a lawyer to review the documents and prepare to become the proud owner of a second property!

Imagine what life would be like if one of your biggest expenses was eliminated. Here’s how to make it happen...

By goldengirlfinance.ca

If you own a home, it's likely that you're still dragging the old ball-and-chain. No not that one - we're talking about

your mortgage. For many homeowners, 10, 20 or even 30 years down the road seems like an impossibly long

commitment, which often means we slog along, and forget all about what it would be like to be mortgage-free.

And who can blame you?  Assuming you have the average Canadian mortgage of about $280,000 at a 3.2 percent

interest rate amortized over 25 years, if you make the monthly payments, you'll likely be receiving a senior's

discount long before you pay off your home. So how can you pay down your mortgage faster? Here are some

simple steps to help you break free... 

1) Pay more often

There are many options for making your mortgage payments, but the more frequently you pay, the better. That's

because your mortgage accrues interest each and every day. The shorter the space between payments, the less

interest adds up. If you take the standard monthly payments on your $280,000 mortgage, it'll take you the full 25

years to pay it off, and you'll pay more than $126,000 in interest. Paying bi-weekly or weekly will help, but the

savings will be minimal because this only involves dividing your monthly payment to make 24 or 48 smaller

payments per year, rather than the standard 12.

It's with accelerated weekly and bi-weekly payments that things get interesting. That's because with an

accelerated bi-weekly mortgage, you'll make 26 payments in a year, and 52 payments for the accelerated weekly.

This is a way to sneak in a few additional payments over a standard monthly mortgage. In our example, the bi-

weekly accelerated option would shave two years off the time it takes to pay off your mortgage compared to a

standard monthly payment, and reduce your interest expense by $17,000. The weekly payments shave off even

more. The best part is, each payment will be smaller and easier to budget; you won't even miss the little bit more

you pay each year.

2) Make lump sum payments

When you get a tax return, an unexpected bonus or some other joyful cash injection, consider putting it on your

mortgage. Adding just $1,000 extra to your mortgage per year will allow you to pay it off four years sooner and,

combined with accelerated bi-weekly payments, chip another $8,000 off the interest you pay for your home. When

extra cash tempts you to spend, just think about how much disposable income you'll have when your mortgage

disappears. Then put it on the house instead.

3) Increase the payment amount

Another way to ditch that mortgage pronto is to increase the amount of each payment. This can be a good strategy

to apply as your income increases over time. Let's say you score a raise of $250 per month. Lucky you! Put that on

your mortgage and you'll really be leading a charmed life. You'll be mortgage-free seven years ahead of schedule,

and will shave a whopping $24,000 off your mortgage (assuming you're still making accelerated bi-weekly

payments). If you continue to apply your raises to your mortgage over time, the effect will be even more significant.

You might even own your home before your kids hit college!

4) A lower interest rate

These days, mortgage rates are near all-time lows, but it doesn't hurt to negotiate a better rate no matter how low

they are. Is there anything less satisfying than paying interest? We thought not. The difference between a 2.99

percent rate and a 3.2 percent rate adds up to about $6,000 in interest over the course of the mortgage. So

whether you're signing up for a first mortgage or renewing an existing one, shop around for the lowest rate you

can get. Over the long run, those efforts really pay off.  Hey, why pay more than you have to?

5) Make your mortgage tax-deductible

In the U.S., mortgage interest is tax-deductible. Unfortunately (or perhaps fortunately, considering the trouble the

U.S. mortgage market's been facing), the Canadian government just isn't that generous. That said, there are still

some ways to make your mortgage tax deductible. This involves borrowing against it to purchase income-

producing investments. Under the Canadian tax code, interest paid on money borrowed to earn income is tax

deductible. This strategy can help homeowners become mortgage-free faster, but it isn't a sure bet. Borrowing

against your home can be risky, especially because your investments may not yield expected returns. With that in

mind, should you go with this option, find a financial advisor who can help you make it work to your advantage.

Think of the freedom

A mortgage isn't forever and (surprise) it doesn't even have to feel like it is. Give your debt a little extra care and

attention and you can be free of it years faster than you'd even dared to hope. What you do next - with all that

money! - is entirely up to you.

BY JULIA JOHNSON, FINANCIAL POST

Canada’s economy is gradually recovering and is expected to grow by 2.25 % this year and 2.5 % in 2013,

according to a new report by the Organization for Economic Co-operation and Development.

Private consumption and investment will continue to be the primary drivers of growth in Canada, the report, said

which was published Tuesday.

Canada’s growth will slightly outpace the OECD average, which is expected to be 1.6% in 2012 and 2.2%.

Dow Jones reported that OECD economist Peter Jarrett said the improved Canadian outlook “more than offsets

persistent weakness in European export markets and the resulting uncertainty through the rest of the OECD and

the world economy.”

Jarrett described the housing market as the “biggest story in Canada.” Home prices, which corrected about 10%

during the recesion, have surged again, “making household balance sheets look increasingly fragile, he said.

Jarrett said macroprudential measures will probably be enough to cool markets in some cities but are “almost

certainly, we feel, not enough in places like Toronto and probably not enough, therefore, in the aggregate level.”

He said the government is right to be worried and predicted that the central bank will also have to act because

negative real short-term rates risk are stoking a housing bubble.

The OECD is calling on the Bank of Canada to raise interest rates by 25 base points this fall, followed by similar

increases in each quarter next year, according to Dow Jones. The organization called Canada’s current monetary

stance “appropriate” in light of downside economic risks related to raising interest rates.

The benchmark interest rate in Canada has been 1% since September 2010.

The OECD flagged Canada’s housing sector as imbalanced, but noted stiffer lending rules surrounding

mortgages have helped reduce risk. The report comes on the heels of a Fitch Rating report released Monday that

called Canada’s fast-climbing housing prices and record household debt levels unsustainable.

Overall the global economy is slowing recovering, the OECD said, but at substantially different rates.

The eurozone crisis is dragging down the overall economic recovery.

“The crisis in the eurozone remains the single biggest downside risk facing the global outlook,” said OECD chief

economist Pier Carlo Padoan in a statement.

Heading into a European Union summit in Brussels this week, the OECD urged leaders to take immediate action

to avoid a deepening of the crisis in the euro zone and spillover effects to other nations.