Ishrat ul Ibaad buys Mansion in Missisauga Canada

[Adeel]

Mubashar Luqman quickly losing his reputation. Calling this small house a mansion? This is a very regular house in Canada and pretty much anyone can buy it.

Mr Mubashar who's propaganda are you working on?

 

[Aijazahmed]

This is not mansion at all. This is a small semi-detached house. I used to live in Mississauga and now I am in Vancouver. The house worth is not more than $450,000.00 in both cities if it is a new construction.
By putting 5% down any one can buy this house on mortgage. That's how all middle class buy their houses in Canada. So, if this is a real story (I doubt though), still Ishrat -ul-Ibad proves he belongs to a middle class.

I need to confirm with Canadian Immigration that if a person without legal status (while living out side Canada) can buy a property in Canada? Is there any provision in the law here?

Can any one confirm please. Thanks

 

[FaisalKh]

Re: Ishrat ul Ibaad buys mension in Missisauga Canada

Well in a way that confirms what I mentioned in my thread " A House In Mississauga":)

May be he is not the same person u mentioned that property dealer was referring to. May be he was referring to his colleague Allah (SWT) knows best. A friend of mine was once talking that your Rizq is what u spend or eat, else is for others. For example if u earn 100 rupees and spend 20 from it through out life time then remaining 80 is other's Rizq but u would be accountable for it if u have earned it illegally. Greed of wealth is such a curse it blinds the greedy. May Allah Almighty save us from it Aameen. I am not sure he will ever get chance to live in this house but even if it was bought from Halal money he would still be answerable for doing israaaf. Wallahu Aalam. May Allah Almighty forgive us and guide us to the right path Aameen

 

[Bilal_Mushi]

Re: Ishrat ul Ibaad buys mension in Missisauga Canada

I never liked this bais guy never seen him talking against MQM..............you may be right this can be a drama.

This is all set-up all drama........ Luqman wants to clear the tag as been MQM planted anchor. After few days he will apologies to MQM blaming his sources. In the end Israt will come-up as hero. Paid anchorocracy at its best.

 

[atensari]

This is not mansion at all. This is a small semi-detached house. I used to live in Mississauga and now I am in Vancouver. The house worth is not more than $450,000.00 in both cities if it is a new construction.
By putting 5% down any one can buy this house on mortgage. That's how all middle class buy their houses in Canada. So, if this is a real story (I doubt though), still Ishrat -ul-Ibad proves he belongs to a middle class.

I need to confirm with Canadian Immigration that if a person without legal status (while living out side Canada) can buy a property in Canada? Is there any provision in the law here?

Can any one confirm please. Thanks

In your opinion: CND 450,000 X To days Exchange Rate = Middle Class Pakistani.
Who many middle class Pakistanies have this worth?

 

[FaisalKh]

This is not mansion at all. This is a small semi-detached house. I used to live in Mississauga and now I am in Vancouver. The house worth is not more than $450,000.00 in both cities if it is a new construction.
By putting 5% down any one can buy this house on mortgage. That's how all middle class buy their houses in Canada. So, if this is a real story (I doubt though), still Ishrat -ul-Ibad proves he belongs to a middle class.

I need to confirm with Canadian Immigration that if a person without legal status (while living out side Canada) can buy a property in Canada? Is there any provision in the law here?

Can any one confirm please. Thanks

Hahahaha very funny. I dont know what is ur definition of Middle Class but let me do the calculations for u. $450,000 equal to around 3,82,50,000 Pakistani Rupees (3 crore 82 lac 50 thousand ONLY [hilar]). Now 5% down payment is $2250 which equivalent in Rupees is 19,12,500 (19 lac 12 thousand five hundred ) and dont know how much he pays monthly in mortgage after that. A small story i read somewhere that chingaiz khan was asked once that have u ever been merciful to someone, he replied that yah once a small kid was drowning in river and his mother asked me for help so i took him out from river using the tip of my sword... I hope u got my point what i wanted to say about ur perception of Middle Class.

 

[GeoG]

This is not mansion at all. This is a small semi-detached house. I used to live in Mississauga and now I am in Vancouver. The house worth is not more than $450,000.00 in both cities if it is a new construction.
By putting 5% down any one can buy this house on mortgage. That's how all middle class buy their houses in Canada. So, if this is a real story (I doubt though), still Ishrat -ul-Ibad proves he belongs to a middle class.

I need to confirm with Canadian Immigration that if a person without legal status (while living out side Canada) can buy a property in Canada? Is there any provision in the law here?

Can any one confirm please. Thanks

5% Down and 95% percentage in this day and age
Sure Akhir MQM Ka Governor Hai,
Karachi Main Country Incharge Ko Goli Say Urwana Hai Kiya

 

[BULLDOZER]

hahaha what a joke !!!! Mississauga Vancouver Canada...hhahahhaha...OMG Mr.Mubashar Lucman a piece advice for you my friend,if you continue to take information from the person who gave you the address of this house,with all due respect your creditbility as a honest person/anchor who talks only on facts would certainly go down the drain..Secondly this word mansion that you have used to describe a 3000 sq ft normal detached house in Mississauga,really creates doubts in my mind about your sources..Sir pls dont make a fool of yourself by believing ppl who have nothing but BS to say..

As for you Mr.Canadian,pls get your fatcs right...Ishrat ul Ibad is MQM my friend,not Pervez Musharraf's party man!! But i think you have nothing but BS to say...MQM is a party where you belong from,go deal with it and fix them and their corruption...Pervez Musharraf was never corrupt like your MQM...

 

[Aijazahmed]

In your opinion: CND 450,000 X To days Exchange Rate = Middle Class Pakistani.
Who many middle class Pakistanies have this worth?

AnkhoN per tassub ki patti bandhi ho tou kuch bhi samajh nahi ata, I said 5% of CA$450,000 that is CA$22,500.
The monthly payment of the rest mortgage amount will be around $2500. If the owner is not living there, he can easily rent this house on around $2000 per month. So remaining $500 (40,000 pk rupees) is easily affordable for a doctor living even in Pakistan.
My concern was different. How come he bought this house without any status in Canada.

 

[Aijazahmed]

Hahahaha very funny. I dont know what is ur definition of Middle Class but let me do the calculations for u. $450,000 equal to around 3,82,50,000 Pakistani Rupees (3 crore 82 lac 50 thousand ONLY [hilar]). Now 5% down payment is $2250 which equivalent in Rupees is 19,12,500 (19 lac 12 thousand five hundred ) and dont know how much he pays monthly in mortgage after that. A small story i read somewhere that chingaiz khan was asked once that have u ever been merciful to someone, he replied that yah once a small kid was drowning in river and his mother asked me for help so i took him out from river using the tip of my sword... I hope u got my point what i wanted to say about ur perception of Middle Class.

AnkhoN per tassub ki patti bandhi ho tou kuch bhi samajh nahi ata, I said 5% of CA$450,000 that is CA$22,500.
The monthly payment of the rest mortgage amount will be around $2500. If the owner is not living there, he can easily rent this house on around $2000 per month. So remaining $500 (40,000 pk rupees) is easily affordable for a doctor living even in Pakistan.
My concern was different. How come he bought this house without any status in Canada.

 

[atensari]

AnkhoN per tassub ki patti bandhi ho tou kuch bhi samajh nahi ata, I said 5% of CA$450,000 that is CA$22,500.
The monthly payment of the rest mortgage amount will be around $2500. If the owner is not living there, he can easily rent this house on around $2000 per month. So remaining $500 (40,000 pk rupees) is easily affordable for a doctor living even in Pakistan.
My concern was different. How come he bought this house without any status in Canada.

You are absolutely correct, love is blind.

 

[Pakistan 1st]

I live in Canada and never heard that Mississauga is in Vancouver...The address which Mr. Lucman mentioned does not exist in canada

 

[Star Gazer]

I hope the party of the middle class will middle this with fairness.
One in london and one in canada.

 

[IMKKK]

Re: Ishrat ul Ibaad buys mension in Missisauga Canada

He is not a kid who is referring on TV an address that doesn't even exist.

I am die hard Pakistan tehreek e insaf supporter..but address he mentioned is wrong.....may be Luqman made a mistake...
I live in Vancouver and vancouver in British columbia......

 

[rana14801]

there has been no contradiction from MQM or fro the Ishrat ul Ibad so far. if Luqman or Dunya TV has reported wrongly or false then MQM must sue them in the court of law

 

[IMKKK]

Mubashar Luqman quickly losing his reputation. Calling this small house a mansion? This is a very regular house in Canada and pretty much anyone can buy it.

Mr Mubashar who's propaganda are you working on?

you are right this is a regular house but not less than 500,000 Canadian dollars and now days Canadian dollar is equal to 87 rupee....US $ is 85 rupee
and if this house cost 500,000 dollars mean more than 43 crore rupee

and you are right anyone can buy but a person who is on welfare fund how he can buy a house like this???
buy the way how much his pay. ???

 

[BULLDOZER]

hahaha what a joke !!!! Mississauga Vancouver Canada...hhahahhaha...OMG Mr.Mubashar Lucman a piece advice for you my friend,if you continue to take information from the person who gave you the address of this house,with all due respect your creditbility as a honest person/anchor who talks only on facts would certainly go down the drain..Secondly this word mansion that you have used to describe a 3000 sq ft normal detached house in Mississauga,really creates doubts in my mind about your sources..Sir pls dont make a fool of yourself by believing ppl who have nothing but BS to say..

As for you Mr.Canadian,pls get your fatcs right...Ishrat ul Ibad is MQM my friend,not Pervez Musharraf's party man!! But i think you have nothing but BS to say...MQM is a party where you belong from,go deal with it and fix them and their corruption...Pervez Musharraf was never corrupt like your MQM...

 

[BULLDOZER]

WHat on Earth are you ppl talking about....I have yet to meet someone who would buy a house in Canada for 500,000 cash.....

There is a thing called getting a mortgage for a house in not just North America,but allot of other places in the world with 20% minimum down payment requirement...

We all need to come out of this mind set where we tag each other for crimes which one never committed and then try to paint a story just so our allegation stands correct..Without any proof we start to acusing each other,this should stop and we should be more tolerant as a society..

 

[Adeel]

WHat on Earth are you ppl talking about....I have yet to meet someone who would buy a house in Canada for 500,000 cash.....

There is a thing called getting a mortgage for a house in not just North America,but allot of other places in the world with 20% minimum down payment requirement...

We all need to come out of this mind set where we tag each other for crimes which one never committed and then try to paint a story just so our allegation stands correct..Without any proof we start to acusing each other,this should stop and we should be more tolerant as a society..

Yes bhai, that is what everyone meant. Anyone in Canada mortgage a house

 

[Night_Hawk]

The discussion is going on that someone bought a house in Canada.

The following are the conditions to buy a house in North America & Canada.
Qualifying for a Mortgage Loan:
[SIZE=+1]Banks don't loan money to just anybody. [/SIZE]They want to feel secure that you're able and responsible enough to pay them back. So you'll usually need these things in order for the bank to give you a loan:

• Enough money for the Down Payment (3 to 20% of the purchase price)
• Two years of steady employment (same job or field)
• Good (not perfect) credit score (~660+, as of 6/09)
• Monthly income that's 2 to 3 times higher than your expected monthly mortgage payment

[SIZE=+1]If you don't have all four items above right now don't fret. [/SIZE]You still have some options.

• Meet with a lender anyway. Don't just assume you can't get a mortgage. It can't hurt to go talk to a bank and see whether they're willing to give you a loan. Even if they won't give you a loan they can probably help you by letting you know where the deficiencies are, so you can work towards qualifying in the future.
• Try for a Low-Doc or No-Doc Loan. As I write this in 2009 these are fairly rare now because banks lost a lot of money by giving these out like candy, but as time goes by I think banks will offer more of these again. Not as many as they used to, but it will still be an option for some people, so I'll continue to keep this section here.
  
  Anyway, these loans are for people who can't (or don't want to) provide details about their income or their employment. The most popular is called a Stated Income loan because you just "state" how much income you have without offering any proof. It's also called NIV for "No Income Verification" because your income isn't verified. Weth No Ratio and No Doc loans, you don't even say how much you make. You can think of these as "Don't Ask, Don't Tell" loans. The No Doc is also called NINA, for "No Income & No Asset verification". Because income is never proven with any of these loans I joking call them the "Drug Dealer Loans", though of course there are many legitimate reasons for wanting a loan of this type.
  
  Since the bank is taking a bigger risk on you with a No-Doc or Low-Doc loan, the interest rate is higher than on a traditional loan, and the exact amount depends on your credit score, your lender's preference, and which flavor of low-doc/no-doc loan you get. The premium you'll pay will range 0.125 to 3.0 percentage points over a traditional loan.
  
  I got one of these loans myself once. I had started a new business a year earlier and was easily making enough money to make the mortgage payments on the house I wanted, but because the business was brand-new I didn't have income history and there was no way a bank would give me a traditional loan. My good credit, and my willingness to pay a tiny amount of extra interest, was enough to get me the loan without having to supply any paperwork.
  
  Here's how the different loans stack up.

[SIZE=+1]What you need for each kind of loan[/SIZE]
Regular Loan Stated Income
[SIZE=-2]("NIV")[/SIZE] No Ratio No-Doc
[SIZE=-2]("NINA")[/SIZE] Income
You provide proof (e.g., paycheck stubs, W2's)
You just tell the banker how much you make and they take your word for it
You don't even say how much you make. (Don't ask, don't tell.)
Down Payment Needed
✔
Small ✔
Small to Bigger ✔✔
Bigger ✔✔✔
Biggest Credit Required
✔
Fair ✔✔
Good ✔✔
Excellent ✔✔✔
Near-Perfect Employment History
✔ ✔

Proof of Assets

✔ ✔ Possible Proof of Income
✔


Interest Rate
✔
Lowest ✔✔
Higher
[SIZE=-2](+0.125% to 1% higher)[/SIZE] ✔✔✔
Highest ✔✔✔
Highest
[SIZE=-2](up to 3% higher)[/SIZE] [SIZE=-1]More on Low- and No-Doc Loans from MSN.[/SIZE]

• Use a Mortgage Broker. A mortgage broker represents lots of different lenders so they can shop around to try to find one who will make you a loan. They charge a fee for this service but if you can't get a mortgage otherwise then it could be worth it. You can find mortgage brokers in the homes section of the newspaper classifieds and in the yellow pages. A good online broker is E-Loan.
• Try to get the owner to finance all or part of the cost of the home. Getting an owner to finance a home is difficult, but if you have no other options then it's worth a try. You can increase your chances of success by offering a higher interest rate and/or asking the owner to finance only part of the cost of the home. See our page on owner financing.
• Get a co-signor. See if a family member or very close friend with a higher income and better credit than yours will cosign a loan for you. That means that the loan will be yours and you'll be responsible for paying it, but if you don't, the cosignor will have to pay it. Obviously the cosignor will have to have agreat deal of trust in you for this option to work.
• Have a friend or family member buy the house, and rent-to-own it from them. Friends and family might be wary of co-signing a loan for you because their credit gets ruined if you don't make the house payments, and they have little recourse against you. A more attractive alternative is to have your friend or family member buy the house in their name, and then rent it to you with an option to buy. Here's how it works: You'll make the mortgage payments and pay for taxes, insurance, and maintenance, as your "rent". You can get the house in your name by either making all the payments after 30 years, or by buying the house for the amount of the remaining mortgage once your credit improves enough for you to get your own loan. If you fail to make your payments, you forfeit your right to buy the house, and your friend/family member can either pick up the payments or sell the house. Either way, they're not out because they already own the house. They don't have to foreclose if you don't pay, because the house was already in their name. For that reason this arrangement can be more attractive to them than the idea of their being a cosignor.
  In fact, if you don't have the money for a down payment, your friend/family member might loan you the money for the down payment as well -- usually for a slightly higher interest rate than the mortgage.
  A downside of having someone buy the house for you is that the interest rate will be about 1% higher because the house will be considered investment property for the buyer and not a residence, since they're not going to live in it. Still, if the only way you can get yourself into your own home is to pay a little more interest, it might be worth it.

http://michaelbluejay.com/house/qualifying.html