2017 TFSA contribution limit is now $52,000 and 2017 is only $5,500

Currently, the maximum amount of money you can deposit into your TFSA this year is $5,500.  Your total contribution is cumulative, so you can roll over this contribution room year to year.  If you don’t have a TFSA, then you can open an account and contribute a maximum of $52,000.

RESCO Mortgage Investment Corporation announces monthly cash dividends

RESCO Mortgage Investment Corporation is pleased to announce that its board of directors has declared its monthly cash dividend of $0.067 per Class B preferred share payable to shareholders of record as follows:

Record Date

Dividend Payable

RESCO Mortgage Investment Corporation

Providing monthly income and capital preservation
RESCO Mortgage Investment Corporation was incorporated on November 21st, 2013 under the Canadian Business Corporations Act. The primary investment objective is to make prudent investments in mortgages against real property located in Canada in order to generate sustainable and stable income while preserving investment capital for individual and institutional investors. The Corporation’s mortgage portfolio will consist mainly of commercial, residential and construction financing as well as land development loans secured by first or second mortgages. The Corporation will manage risk through maintenance of a diversified mortgage portfolio, conservative underwriting and diligent mortgage servicing. A typical loan in the Corporation’s portfolio has an interest rate of 12% to 15% per annum, a one or two year term.

Leadership

RESCO MIC is led by a group of professionals who have been in the business for many years. In fact, the members of the Board of Directors have over a combined 80 years of experience in banking, mortgage lending, real estate, MIC, portfolio management and financial services. They provide deep industry experience as well as extensive network.
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