About Linda Klein

Kamloops drivers who travel the Red Bridge are going to have to make alternate arrangements for the next month.

The bridge will be closed to all vehicle traffic starting Monday September 15 while the Ministry of Transportation conducts repairs.

The bridge will remain open to pedestrians and bicycles, but there will be some intermittent delays.

Drivers will still be able to get over the South Thompson River by re-directing to the Overlander Bridge or Highway 5.

The Ministry estimates the closure will last until the middle of October.

THOMPSON-OKANAGAN – Attention all sky-watchers, the last supermoon of 2014 will cruise across the night sky on Sunday.

The moon will be 358,398 kilometers from earth making it about 15 per cent brighter and roughly 7 per cent larger, according to National Geographic. Since the distance to earth is 50,000 kilometres closer than other full moons, it’s get the supermoon monicker.

A supermoon happens during the monthly full moon or perigee when it’s egg shaped orbit takes the moon to its closest point to the earth.

“While this is nothing special from a science perspective, it is no doubt very poetical and very romantic,” Adler Planetarium astronomer Geza Gyuk tells National Geographic.

Getting a good view of the supermoon depends on the weather where you are Sunday night since the orb will be visible all night. The Environment Canada forecast for the Thompson and Okanagan regions is calling for partly cloudy skies Sunday evening so weather shouldn’t be an issue.

For the best photos and viewing, it’s recommended you get outside just after sunset when the sky is getting dark. Apparently that’s when the super moon will be at it’s most dramatic.

There were two other supermoons this summer, with the one on Aug. 10 being the brightest and the closest.

Like many aspects of your life, obtaining financing on a new or existing home can be a lot less stressful and a whole lot more straight-forward if you’re prepared. But if you’re not prepared, there are many common mistakes you can make. Most of these mistakes are easily avoidable with some preparation and informed advice – feel free to call or email with any questions/concerns!

Below are the Top 5 Mortgage Mistakes people make when trying to secure financing for their home:

1. Failing to choose the best product for their situation
2. Automatically renewing their current mortgage with their existing lender
3. Signing documents without reading them
4. Taking it to the limit – running up credit
5. Not planning for your mortgage application

1. Failing to choose the best product for your situation
There are many different types of loans out there. There are fixed- and variable-rate products, hybrid and no-frills mortgages, lines of credit, term options, amortization choices, and more.

And although choice is great, it can be quite overwhelming without expert advice. While one person would benefit from a variable-rate product, their neighbour may be better suited to a fixed-rate product. The key is to always explain your current situation and future goals in detail so we can select a product that best meets both your current and longer-term needs.

2. Automatically renewing with your existing lender
Although you may feel an allegiance with the current financial institution that holds your loan, they may not be able to offer you the best choices. When refinancing or renewing, it’s important to always shop the market for your best available option, much like you did when

securing your first mortgage. This ensures you end up with the best mortgage rate and terms customized to your unique situation. In many cases your bank will offer you the posted rate in hopes that you’ll simply sign and return the commitment without shopping around. Make sure you do your due diligence when refinancing and renewing. After all, this is your home, your mortgage and your money!

3. Signing documents without reading them
Never sign documents without reading them. If you’re unsure about something, always ask for clarification. Remember that you’re the one entering into the agreement, so you need to understand and agree with that commitment.

4. Taking your credit to the limit
Make sure that your credit balances are in your favour when it comes to your mortgage application. Lenders are looking for an appropriate debt-to-income ratio. In other words, you need to have more income than you have debt. Avoid running up a balance on your credit cards and pay down existing debts as much as possible.

5. Failing to plan ahead
If you know that you’ll need to obtain, renew or refinance a mortgage, it’s essential to plan for it by ensuring your credit is in order. If it’s not, start preparing. Don’t make any purchases on your credit cards that you can’t pay off and if you carry a balance on your credit cards, start paying them down. Refrain from making any large purchases before securing your mortgage. If you’re planning to buy a car, wait until after you have secured financing, as your debt-to-income ratio will rise and you don’t want this to occur while trying to secure a mortgage.

Understanding how the mortgage process works and how lenders qualify your loan will help you avoid the above mistakes.