Category

Bad Credit Mortgages
_buy a home completed consumer proposal 700450X THUMBNAIL
After a consumer proposal has been fully paid, many think about buying a home. If already homeowners, they may be concerned about their upcoming mortgage renewal, or wonder whether a mortgage refinance is now possible. The question all have is how long do they need to wait after the consumer proposal is finished.
Read More
_completed consumer proposal 700450X THUMBNAIL (3)
A horrible credit score after finishing a consumer proposal isn't necessarily your fault. Many who've completed a consumer proposal are surprised to learn that numerous mistakes on their credit report are doing serious harm to their credit score.
Read More
Cost of private mortgage
Private mortgages have a number of costs you may not expect, and different terms and benefits than traditional mortgages. Rather than just focusing on the interest rate, it's important to understand the total cost of a private mortgage before deciding this product is suitable for your needs.
Read More
When Is a Private Mortgage the Best Solution?
Published: • This is the second in a three part series of articles discussing private mortgages. Private mortgages are becoming increasingly common because of extremely high house prices, especially in Canada’s major cities, and as a result of the mortgage stress test. In Part 1, I covered the basics, answering the most frequently asked questions....
Read More
consumer proposal 700450X THUMBNAIL
Consumer proposals are an important part of the Canadian insolvency process, and are the main alternative to filing for bankruptcy. We answer 5 of the most common questions about consumer proposals.
Read More
https://askross.ca/alternative-mortgage-lenders-canada-bad-credit-private-second-mortgages/
The media paints alternative lenders as shadowy, less-than-reputable lenders who prey on desperate homebuyers. We look at the important role that alternative and private lenders play in the market and compare them with traditional "A" lenders, such as banks.
Read More
Buying a home after a consumer proposal is a real possibility, but you must prepare for the credit history challenge. 3 scenarios for buying a home after a consumer proposal are discussed.
Read More
rebuild credit before buying home t 700x450X THUMBNAIL
Published: • Don’t Wait Until You’re Ready to Buy a House to Renovate Your Credit Scores 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....
Read More
Rebuilding Credit Wants to Buy Home 700x450X THUMBNAIL
How can you buy a home in the near future and build your credit at the same time? 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...
Read More
7 Secrets About Credit 700x450X THUMBNAIL
Published:   •  Important tips about your personal credit history 1. Your credit score changes all the time You can check your own credit score at either Equifax or Trans Union’s website. The report will remain available to you online for a month – but remember, it is changing all the time, as new information...
Read More
Beware of being scammed by someone you trust Dear Ross, I have worked in a busy gentleman’s club for three years as a bartender. Last year I began dating Sam the owner, and he suggested I put together the money to buy the club, as it was ‘printing money’. I was very intrigued. He also...
Read More
Declaring bankruptcy isn’t as difficult as you might think! I always tell clients that declaring bankruptcy is not so difficult – relief from hounding creditors and their agents is just a few signatures away. It’s a bit harder to secure an automatic discharge from your bankruptcy though – and that, for most, is the point...
Read More
Bankruptcies can be on record for 10 years, not 6 Dear Ross: How come TD Bank has notes in their system about my personal bankruptcy from 2003? My credit bureau is absolutely clean; score 765; no blemishes, yet I can only get a secured visa from my own bank after all these years! Thanks! -Confused...
Read More
This secured credit card does absolutely nothing for your credit score Sometimes the only way to get your credit history kick-started is to put up a security deposit with a card issuer, and then begin to use their card. It’s like a rental security deposit – you get your money back at the end. But...
Read More
More and more people are seeking alternatives to bankruptcy – and finding them! In case you missed it, Emily Jackson wrote an informative piece on the changing landscape of bankruptcies and consumer proposals in the Globe and Mail on June 14, 2011. Her main point is that since the rules changed so significantly in September 0f 2009,...
Read More
Bankruptcy levels are improving, but we have not recovered from the 2008 recession yet While bankruptcies continue to drop as economic conditions improve, they still remain above pre-recession. A longer version of the following article was published earlier this week in www.mortgagebrokernews.ca According to data released by the federal Office of the Superintendent of Bankruptcy,...
Read More
5 reasons you need to call your cell phone provider before you travel! In the past two weeks, I have had several callers with a recurring ugly theme. They, or their kid, or their spouse travelled to the USA and started using their cell phone exactly the same way they usually do. Case I –...
Read More