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Friday, April 3rd, 2020

My credit score is 788: What does it mean? – Ask a Vancouver Mortgage Broker

A good credit score is important if you plan to borrow money because it means you’ll qualify for lower interest rates on loans and have access to a variety of credit offers. Your credit score indicates the risk you represent for lenders when compared to other consumers.  Higher scores are viewed more favorably.  The two […]

3 Financial Predictions For 2014 That Will Be Good For Your Wallet – Ask a Vancouver Mortgage Broker

What will the New Year bring? NerdWallet predicts it may come with a few changes that will boost your bank account. The personal finance site published a list of upcoming financial trends and policy changes that could shape 2014. We pulled out three predictions that would be good for you and your money: Credit cards will offer more perks.“Last year, […]

Reasons Why you Might Want a Second Mortgage – Ask a Vancouver Mortgage Broker

Reasons Why you Might Want a Second Mortgage WithVancouvermortgage rates so low, now might be an ideal time to take out second mortgage. When money is still cheap to borrow and you need a big chunk, you don’t have to max out those expensive credit cards, or get a more costly personal loan. If you […]

Prepaid credit cards face tighter rules – Ask a Vancouver Mortgage Broker

Ottawa is stepping in with new rules for the largely unregulated prepaid credit card market. Finance Minister Jim Flaherty announced Wednesday that in the future, issuers of prepaid cards will not be able to impose expiry dates and must be up front about hidden fees and conditions. The move is part of the government’s expanding […]

Buying a Home with a Bad Credit Rating – From your Friendly Vancouver Mortgage Broker

Buying a Home with a Bad Credit Rating – From your Friendly Vancouver Mortgage Broker Life happens. Sometimes we mess up or circumstances get beyond our control. Our credit is one of those things. It could be you simply spent way beyond your means, or maybe you got laid off from your job and fell […]

The perils of home buying without a rainy-day fund

Few people would walk even a 10-foot-high tightrope without a net. Even with a reward, the fall wouldn’t be worth it if something went wrong. Yet people who buy homes without access to emergency funds are walking a figurative tightrope every day. When you get a mortgage with no savings, the unforeseen is your enemy. […]

Goodbye to three irritating bank practices

Three annoying things that banks do to customers are about to become history. Following up on commitments made in the past two budgets, the federal government has announced measures that will stop banks from mailing unsolicited credit card convenience cheques to customers, and that will reduce the holding period on newly deposited cheques. The banks […]

Should you tackle your small or large debts first?

KATHERINE SCARROW Globe and Mail Update When it comes to tackling debt, logic isn’t always at the forefront of our decision-making. According to a new research study, consumers routinely mismanage multiple debts, paying off small debts first even when larger debts have higher interest rates. “People want to wipe the books clean,” says Scott Rick […]

Six questions you should ask before adding more debt

ROMA LUCIW – Globe and Mail Update Catherine and her husbandtapped into their first home equity line of credit 15 years ago, when they needed $30,000 to buy a car. The rate on the line of credit was attractive and, having been mortgage-free for a decade, the Thornhill couple figured it would be a quick and easy […]

Credit Repair Job

Credit is sometimes a mysterious concept to people. A lack of basic financial knowledge, such as why it’s important to pay bills on time, could be the difference between an A mortgage with a great rate and a B mortgage with higher payments. But as a broker, you know placing clients with an alternative lender […]

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