Category

Credit Score
CMHC'S IMPACT 700450X THUMBNAIL (1)
With a shell-shocked COVID-19 Canadian economy as backdrop, CMHC moved to tighten lending standards for insured mortgages. New rules for CMHC-insured mortgages are intended to reduce the risk of increasing mortgage defaults in Canada, to contain likely fallout from the COVID-19 pandemic and to make mortgage qualification harder for insured mortgages.
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_buy a home completed consumer proposal 700450X THUMBNAIL
Once a consumer proposal is paid in full, many Canadians turn their attention to buying or refinancing their home. What is the recommended waiting time after completion before purchasing a house or condo?
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_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.
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mortgages 101 700450X THUMBNAIL
Most first-time buyers lack sufficient funds to purchase their home outright and require loan financing (a mortgage) to make it work. In this article, we cover the basics of getting your first mortgage.
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Financial Q&A
A running thread of reader questions and our answers and research about the impact of COVID-19 on your finances.
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Save 100k good hygiene
Many services are available to give Canadians free access to their credit scores, but the problem is they all provide different results. No industry standards exist to ensure credit score consistency. The solution is to worry about overall 'credit hygiene' rather than any specific credit score. We provide nine strategies to manage credit hygiene and...
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Rebuilding Credit After a Consumer Proposal or Bankrupcy
Published: • There is no question after you file a consumer proposal or personal bankruptcy, your credit score is going to take a beating. Credit scores range from as low as 300 to 900, with most Canadians in the 600’s and 700’s. After you file a consumer proposal, expect your score to drop into the...
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improve credit in canada fast
Situations often arise where a new mortgage application, or car loan/lease, is impacted by a credit score that's lower than expected. Frequently errors, or reported items negatively affect your score, but these can be quickly fixed. A couple of case studies show how.
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Published: •  Here in Canada, your credit score always matters — even when you are applying for a mortgage with an alternative lender or a private mortgage lender. It’s true they specialize in helping borrowers with damaged credit, but they still want to see signs of rehabilitation and repayment performance in the applicant’s track...
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