Category

Private & Second Mortgages
The Truth about Alternative Mortgage Lenders Some members of the media have gone overboard painting a dark and dour picture of alternative mortgage lenders. The impression they give is that a bank mortgage is lily-white-extra-virgin-be-all-and-end-all, and anything else is inferior — and perhaps unsavoury. We hear terms like shadow lending, sub-prime lending, private lending, alternative lending,...
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Give your kids an inheritance with warm hands According to HomEquity Bank almost 5% of their clients aged 55 and over arrange reverse mortgages as a way to gift money to their adult children. “What we hear from some of our clients is that they want to see their loved ones enjoying the results of their...
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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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Secured Visa Application Each week I receive calls and emails asking me for help in rebuilding damaged credit histories. Often, s/he has come off (or is still in) a consumer proposal, or debt settlement or personal bankruptcy and is truly starting from ground zero. How to rebuild your credit history is the topic of other...
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Introducing the Canadian Personal Finance Hub I am working on a new free offering – it’s a daily personal finance news digest sent directly to your inbox. This is a work in progress, so please bear with me, and let me know at any time if you have specific areas of interest you would like to see. My...
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Consumers spend too much on housing In our zeal to qualify for a mortgage, we strive to meet the debt service ratios used by all major mortgage lenders. The rule of thumb the lenders use is your mortgage payments, property taxes and heating bills should be less than 32% of your gross monthly household income....
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7 secrets about credit 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 is collected and sent to the reporting...
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