Tag

consumer proposal
_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
Renew Mortgage
A reader asks whether COVID-19 has affected her ability to renew a mortgage while still in a consumer proposal, and whether it's possible to refinance, pay off the remainder of the consumer proposal and establish a secured line of credit.
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
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...
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
mortage renewal 700450X THUMBNAIL (1)
Auto-renewing your mortgage is easy, but can be a very poor financial decision. These top 3 mortgage renewal tips will help you get the best rate and terms and may save you thousands of dollars.
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
canada private mortgages 700450X THUMBNAIL
Private mortgages are great tools for solving specific types of problems. Homeowners who need to consolidate debts or pay off a consumer proposal early are good candidates for this solution, despite having higher costs than a traditional mortgage.
Read More
BEST MORTGAGE CONSUMER 700450X THUMBNAIL
When the bank said 'no' to mortgage renewal because of a consumer proposal, switching to an alternative lender and paying off the consumer proposal early provided immediate debt relief and improved cash flow.
Read More
Pre approved mortgage denied because of consumer proposal
Consumer Proposal can de-rail a pre approved mortgage Today’s question came from a reader in Alberta who is currently in a consumer proposal and also wants to buy a new home. “I moved to Alberta in 2007 for a family crisis and have had some personal hurdles to overcome in regards to employment – as a...
Read More
Bankruptcy And Mortgage Refinance Not The Answer
Published: • Bankruptcy and consumer proposals may not be an option if abuse of your credit privileges is suspected Recently I received an email from someone complaining she could not get out of debt.This perked my curiosity, but if you read on, you will also understand why. Dear Ross I am a hard working immigrant...
Read More
Tragic circumstances devastate family finances
No matter how financially responsible you are, illness and tragedy can decimate your finances You never know what’s around the corner when family finances are concerned. Met a couple last week who retired early at 53, with guaranteed pension income of $74,000 between the two of them. And when they hit 65 (earlier for CPP...
Read More
Debt Settlement Company Created a Big Mess
Be Wary of Debt Settlement Companies; Stick With Registered Credit Counselors or Bankruptcy Trustees Who Are Professionally Certified and Bound By Code of Ethics Last week, a young professional named Zak came to see me.  A year or two ago he was struggling to keep up with his two credit card balances. Back then Zak...
Read More