Category: Debt Relief

Home equity settles CRA debt

Home equity settles CRA debt Sometimes even successful people run into debt problems. We see it often with small business owners who have not set up a proper tax remittance program with CRA. One day they wake up to a huge tax liability that isn’t likely to go away. Chao and Xiaoling own their home …

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Ten reasons to have good credit

Ten reasons to have good credit As soon as my kids turned eighteen, I made sure they had two different bank issued credit cards. And from that day on, we began building their personal credit history. They all now have superb credit, and between them have enjoyed pretty much every benefit listed here. Your bank may …

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Timing of Credit Check for Mortgage Application

Timing of credit check for mortgage application We are working with a young power couple buying their first home. They have been doing lots of research and asking some very interesting questions. Today one of them asked me       ” When it comes to doing our credit check, is it more advantageous for …

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Tenants need good credit too

Tenants need good credit too If you have rented an apartment in the past, you know that landlords typically ask you about your credit history. Tenants need a good credit history as much as home buyers looking for a mortgage do. In fact, we believe all Canadians should pay attention to and proactively manage their credit …

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How to Boost Your Credit Score Quickly

How to Boost Your Credit Score Quickly Sometimes you need to increase your credit score in a hurry. For example, maybe you are buying a house and your mortgage broker has told you your score is too low. Here are four quick tips which will give practically everyone’s score a boost. Access all your credit …

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How to Protect Your Credit Score

How to Protect Your Credit Score Be proactive; Nip errors and problems in the bud before they happen. Create an online profile at www.equifax.ca and monitor your credit history once or twice a year. Keep your balances as low as possible relative to their limits. In a perfect world, you would always report zero balances even though you …

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Use Home Equity to Pay off Consumer Proposal

Use Home Equity to Pay off Consumer Proposal If you are a homeowner in the middle of a consumer proposal, did you know you can  use your home equity to pay off your consumer proposal and get on with your life? A few weeks ago a reader asked me if there is any way he …

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Impact on credit history of consumer proposal or bankruptcy

Impact on credit history of consumer proposal or bankruptcy Many people in debt stress worry about the effect a proposal or bankruptcy will have on their credit history. For some, it barely matters, as their history of late payments and debts in collection means their credit history is already shot. Others actually have a pretty …

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Rebuild your credit well before buying a home

Rebuild your credit well before buying a home Because we are credit specialists as well as mortgage agents, at Ross Taylor & Associates we help many clients who are trying to improve their credit history. Some have gone through consumer proposals, debt settlements, or even personal bankruptcy. Not everyone. Some others hit hard times in …

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Three Ways to Take Equity Out of Your Home

Three Ways to Take Equity Out of Your Home One of the benefits of our bullish real estate market is many of you have accumulated substantial equity in your homes. Some are content to think of this as a core part of their retirement plan, while others are itching to put this equity to good …

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Rebuilding Credit Wants to Buy Home

Rebuilding Credit Wants to Buy Home This morning I received an email from a reader who is re-establishing his credit history and interested in buying a home next year. Hello Ross, I need your help on credit building. I think everyone’s situation is unique, in my case I have paid all collections but there is …

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100 percent financing still possible

100 percent financing still possible Did you know it is still possible to buy a home with 100 percent financing? For those who cannot wait to save a five percent down payment, we can help well qualified borrowers who feel they are better off owning now rather than renting. Typically, a buyer needs at least …

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