Tag

credit history
When you co-sign, the borrower now controls your credit history I met a couple recently who want to refinance their house to pay off some debts. Their home is worth $900,000 and their current mortgage is $450,000, so with lots of equity to play with you would think this will be really easy. The debts...
Read More
No credit history qualified for a mortgage Five months ago, Arun Kumar  from Right at Home Realty referred his clients Raj and Nindy to me for a pre-approval for a mortgage for their first home. Raj has a good job making $71,000 per year, and Nindy was about to re-enter the work force and take a job...
Read More
Two credit cards are better than one The other day a reader wrote in and asked “is it bad for my credit rating to have an inactive credit card?  I prefer to only use one and use the back up card only if I misplace the one I regularly use”. I replied “Good question. It’s...
Read More
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...
Read More
Pre approved mortgage denied because of consumer proposal 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
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....
Read More
Managing first credit card Shannon wrote yesterday: “Dear Ross: As a parent of an otherwise wonderful and responsible 18 year old daughter, I am struggling how best to deal with the fact that she has already run up a $750 balance on her first credit card, and she has only had it six months. The interest rate...
Read More
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...
Read More
Build and maintain an amazing credit history When the time comes to borrow money (buy a car, buy your first home, sign a rental agreement, etc.) you will be offered the best terms and lowest interest rates if your credit score sings like an angel. And if you ever find yourself in financial stress or...
Read More
1 2 3
[data-image-id='gourmet_bg']
[data-image-id='gourmet_bg']
[data-image-id='gourmet_bg']
[data-image-id='gourmet_bg']
[data-image-id='gourmet_bg']
[data-image-id='gourmet_bg']
[data-image-id='gourmet']
[data-image-id='gourmet']
[data-image-id='gourmet']
[data-image-id='gourmet']
[data-image-id='gourmet']
[data-image-id='gourmet']
[data-image-id='gourmet']
[data-image-id='gourmet']
[data-image-id='gourmet']
[data-image-id='gourmet']
[index]
[index]