November 25, 2017

“What I Learned From 100 Days of Rejection”

I recently watched this Ted Talk and just had to share this very cool exercise and learning!  When Jia Jiang was 6 years old, his teacher wanted the children to experience receiving gifts but more so, how to give and receive a compliment.  Wonderful concept but what happens when you are the 37th of 40 children not to receive a compliment!  These are the experiences that mark us for life, this is where our limiting beliefs begin and why we will do anything in life not to put ourselves out there to be publicly rejected again.

So, we want to do many great things but there is something that just holds us back.  There is a constant battle between who we are today, our dreams and desires and that 6 year old.  Fear of rejection.  Then after numerous tries and continual rejection, what do we do?  We give up or quit!

We need to be a better leader and in order to do that, you have to put that 6 year old back in his place.  So how do you overcome the fear of rejection?  Jia found a site called ‘Rejection Therapy’.  You go out for 30 days and look for rejection, then you will become desensitized to the pain.  So Jia came up with 100 days of rejection with some unique ideas of how to get rejected.  Asking a stranger to lend him $100, he was so scared he ran away.  This is where the learning started, if only he had started a conversation as opposed to  running.  Then he went into a Burger place and asked for a Burger refill but he started a conversation, didn’t run away, stayed, started negotiating and the fear was diminished.  He learned that if he didn’t run, he could turn a no into a yes by just asking why and engaging in conversation.

All those thoughts that we put into our heads, they don’t trust me, I’m not good enough, they didn’t like our presentation, didn’t like the way we looked, none of those things come into play.  What I offered didn’t fit what he wanted.  He also learned how to get referrals.  Put all the doubts out on the floor, acknowledge their doubts and that you are thinking just like them and you will gain trust.  He decided to ask to teach a college class, he was rejected but went back 3 times, kept asking and ended up teaching a class.  You can accomplish your life dreams just by asking.

People who really change the world, the way we think and live are people that were met with initial and often violent rejections.  People like Martin Luther King Jr., Nelson Mandela, Mohandas Gandhi.  These people didn’t let rejection define them, they let their their own reaction after the rejection define themselves and they embraced rejection.  Don’t let rejection be your curse and run from it.  Let rejection turn into the biggest gift of your life.

Colleen Saunders is a 20 year veteran in the mortgage industry, serving Oakville, Mississauga, Burlington and Toronto and offers all mortgage related services such as 1st and 2nd mortgages, private mortgages and more.

To contact Colleen, please fill out the form on  www.mortgagesbycolleen.ca  or call 416-459-2406

Will You Owe Revenue Canada?

The holidays are over, we are all pumped up to start the New Year off with a bang and have an epic year!  Then, bam, it’s tax time!!  Thoughts go to tax preparation, getting receipts together, doing the final tally to submit to our accountants or bookkeepers.

As a Mortgage Agent I receive referrals from both accountants and bookkeepers when their clients are having difficulties paying their income taxes either personally or through their business.  Here is an example of one client I was able to assist recently.

Client owed Revenue Canada over $200,000 in back taxes, penalties and interest.  He was unable to pay, so in usual fashion, Revenue Canada froze his business accounts.  This basically shut down his operation.  I  arranged a mortgage to pay out the total amounts owing, he paid off his income taxes and his business account was restored.  Had we have spoken earlier, I could have got him the funds required, eliminated the stress in his life and the business interruption.  We are interesting creatures, we are always optimistic that things will turn around but sometimes it is best to just deal with the elephant in the room!

If you or anyone you know is having difficulties in paying their income taxes or accumulated debt, please refer them to me and I can give them the options available to help them sleep better at night!

Colleen Saunders is a 20 year veteran in the mortgage industry, serving Oakville, Mississauga, Burlington and Toronto and offers all mortgage related services such as 1st and 2nd mortgages, private mortgages and more.

To contact Colleen, please fill out the form on  www.mortgagesbycolleen.ca  or call 416-459-2406

Did You See “The Big Short?”

Have you seen the movie The Big Short about the financial crisis of 2007-2008 triggered by the housing bubble in the United States?  It covered the unconventional techniques employed with regards to subprime mortgages and how they collateralized the mortgage obligations.  The Banks colluded with a major bond-rating company to maintain ratings on worthless bonds which allowed them to sell off their losing positions before anyone became aware.  It’s very complicated but that is the gist of it.  One of the major bond-rating companies was Moody’s Corporation.

It was just announced that Moody’s will pay nearly $864 million to resolve allegations that it habitually inflated ratings of shoddy residential mortgage-backed securities (MBS) in order to win contracts.  The Justice Department had accused Moody’s of inflating its ratings of mortgage bonds during the run-up to the financial crisis. As part of the settlement, Moody’s acknowledged that its credit ratings were compromised by the so-called “issuer-pay” method, under which Moody’s and other ratings agencies were selected by the entity that marketed the MBS and therefore stood to benefit from a higher rating.

According to the Justice Department, Moody’s deviated from its own standards in order to award higher ratings to some MBS than the bonds deserved.  “Investors relied on Moody’s credit ratings to be objective and independent, and they naturally expected Moody’s to follow its own published methods.”

The settlement includes a $437.5 million federal civil penalty, the second largest payment of the type ever made by a ratings agency to the government. The remainder of the penalty will be distributed to settlement member states.

If you haven’t seen the movie, it offers a great explanation of how the bond market works and is very close to the Canadian system.

Colleen Saunders is a 20 year veteran in the mortgage industry, serving Oakville, Mississauga, Burlington and Toronto and offers all mortgage related services such as 1st and 2nd mortgages, private mortgages and more.

To contact Colleen, please fill out the form on  www.mortgagesbycolleen.ca  or call 416-459-2406

Article:  http://www.mpamag.com/news/moodys-agency-slapped-with-864-million-penalty-over-shoddy-mortgage-bond-ratings-42686.aspx

Great Things Are Ahead For Us All!

How are you feeling about this New Year of 2017?  Do you wonder where things are heading?  Will we be breaking new ground or will it be more of the same?  Well, I have great news!  According to Numerology predictions, 2017 is suppose to be a fabulous year.

I can help you make it even better.  Wouldn’t it be a wonderful to start the New Year without any financial stress in your life.  Instead of struggling to make your monthly payments, we can work together to consolidate all your debts and start a savings plan.  I specialize in removing the shame and guilt around finances.

I would like to share a testimonial that I received last week as a testament of how I can assist you:  “I would highly recommend Colleen’s services.  She is a wise problem solver & I am so grateful for the sense of security I felt during the process of arranging my mortgage.  I had feelings of shame around my financial situation, but Colleen’s empathy just melted them away…now I refer to her as my Mortgage Angel!   Susan S.

If you or anyone you know could benefit from my expertise, I would appreciate being part of your journey.

Colleen Saunders is a 20 year veteran in the mortgage industry, serving Oakville, Mississauga, Burlington and Toronto and offers all mortgage related services such as 1st and 2nd mortgages, private mortgages and more.

To contact Colleen, please fill out the form on  www.mortgagesbycolleen.ca  or call 416-459-2406

The Spirit Of Giving

It is the holiday season, what a wonderful time of the year when we make that special effort to spend time with family and friends.  We also make a special effort towards the spirit of giving.  We will spend hours looking for that special gift just to witness the joy on on faces of our loved ones and feel a warm glow knowing that we have picked the perfect gift and lifted someone’s sprits and made them happy.

During this festive time of planning, shopping and parties, it is also important to take a moment to remember those less fortunate than us and to consider what we can do to help make their holidays just a little better.  Any little bit that everyone can do can make a difference in someone else’s life.  As we open our hearts and our wallets during this time of year, we can spread some joy and share our generosity by giving to our favourite charity, donating to a Christmas Wish Foundation so some children will have at least have a present to open on Christmas morning.

Make sure you take some time for yourself to relax and unwind from a hectic year, help others and really enjoy the holiday season making special memories with family and friends.  Remember that feeling and try to experience it all year long.  Sometimes just a smile or a casual conversation while waiting in line can brighten another persons day and lighten their load.

Happy Holidays and Wishing You a Prosperous and Healthy New Year

Colleen Saunders is a 20 year veteran in the mortgage industry, serving Mississauga, Burlington, Oakville and Toronto and offering all mortgage related services such as 2nd mortgages, private mortgages and more.

To contact Colleen, please fill out the form on  www.mortgagesbycolleen.ca  or call 416-459-2406