Here is an interesting post with a corresponding white paper on an alternative to banks foreclosing.  Once again a real solution but could it get implemented?  Likely not.The biggest challenge in my mind is that everyone agrees we must stem off the massive amounts of foreclosures (already at 2.2 million homes and counting, and now at 10% of the entire mortgage market) but any plan that works too well will encourage good borrowers who are paying to be incented to let their property go into foreclosure to take advantage of the advantage.Interesting stat in the white paper is that Las Vegas has the highest drop in value in the entire country at 50%.  If the dollar gets close to 90 cents then go to sin city and snap up some bargains.

Can you believe there is a site that just launched in France that allows younger kids to purchase homework answers from the older kids.  How would someone shut this down?Interesting dilemna, how long before something like this is available here.  You can buy a year end presentation and slide presentation for 80 euros?

Scotiabank has slashed their 10 year mortgage rate from 7.15% to 5.25%.  This changes everything? or not?  if you can get 5.25% for the next 10 years should you take it?  As always I think it depends on your circumstances.If you are thinking long term, and re-organizing your finances and investment goals then you may want to seriously consider this.  For certain if you are thinking of a five year mortgage, then you should seriously consider this rate.  Most if not all banks 10 year deals come with the provision that after the first five year term the IRD part of the penalty is dropped and you will only pay three months interest.

Here is a link to a really valuable set of tools from the Government of Canada.  In particular click on the Mortgage Savings Calculator for some useful information on determining whether you should break your mortgage or not.The calculator was created by Moshe Milevsky who is famous for his in depth studies on whether fixed or variable is the right option.I played around with the calculator and think it is superb.