Blogs

We usually associate zombies with Hallowe'en, but when it comes to old debts they could revive when you least expect it. More and more Canadians are facing record-high levels of debt, due in part to extremely low interest rates. If you've passed the point when budgeting will help you get your finances back on track, chances are zombie debt has caught up with you.

1. What is a credit score and how do lenders use them?
   
   A credit score is a three digit number calculated from your data-rich credit report and is one factor used by lenders to determine your creditworthiness for a mortgage or loan. Your score can affect whether or not you are approved, as well as what interest rate you are charged.

From Mortgage Emergency To Happy Homeowner

Mark and Sarah were a fairly typical couple when we met them 5 years ago.  He worked in the trades, while she was in customer service, both with full time hours and a steady household income. They were moving from a condo to a family home, and everything went smoothly through their mortgage process.

A Rent-To-Own Agreement In Trouble

Several years ago, Drew and Lori entered into a rent-to-own housing arrangement. They had been working on rebuilding their credit after a series of professional setbacks and a family medical emergency racked up their debt.

You do everything you can to ensure your mortgage payments are made on time. So why is your credit score slowly getting worse? If you're like many Canadians, it's because your overall debt is climbing and you don't pay as much attention to those other loans.

You’ve nailed down why you want to own a house and figured out a monthly budget that gives you a payment amount you’re comfortable with. Great! Now it’s time for something you might have never thought about before: your credit.