Category Archives: Difficulté de crédit

How to find out about your credit rating.

Monday September 11th, 2017

How to find out about your credit rating.

There are essentially two private credit rating firms that produce credit scores which the banks will consider while analyzing your mortgage application. The most well known is Equifax, the other one is Trans-Union. They gather and process the following information: The current monthly balance on your credit cards, lines of credit, car loans, furniture loans, […]
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Debt consolidation via a mortgage

Monday May 29th, 2017

Debt consolidation via a mortgage

Debt consolidation consists in borrowing a single amount of money with a financial institution to pay all of your debts. This way, you end up with a single payment which greatly facilitates the management of your finances. In addition to streamlining your debts into a single payment, a consolidation loan can offer an interest rate […]
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Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

Monday May 8th, 2017

Is my mortgage renewal the ideal opportunity to look at restructuring my mortgage?

The answer to this question depends on your future projects and your current level of debt. In a nutshell, if you already have credit card debts, a line of credit, a personal or car loan, or a high-interest furniture loan, and if these debts are costing you more in interest than your mortgage will, then, […]
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Don’t let a new car ruin your dream of home ownership!

Monday April 3rd, 2017

Don’t let a new car ruin your dream of home ownership!

Vanessa and Julien decided  it was time to leave their apartment and buy a house. They are excited about becoming home owners.  Bye-bye rent! Following the advice of some friends, they secured a pre-approved mortgage before beginning their house hunting for a new home. With a solid pre-approval  in hand, they find their dream home.  […]
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Your mortgage renewal could reduce your debts.

Tuesday January 3rd, 2017

Your mortgage renewal could reduce your debts.

A car financed at 5%, a line of credit at 9%, credit cards at 19%… Have you ever made a comprehensive list of your current debts?  Many Quebeckers prioritize paying off their mortgage, which is only natural. No one likes big debts. But, ask yourself, is it the most logical way to proceed if you […]
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A private lender could help you find the missing funds needed to complete the construction of your home.

Monday August 31st, 2015

A private lender could help you find the missing funds needed to complete the construction of your home.

Louise and Roger decided to build their own home. Since they have a lot of construction and renovation experience they figured, “Why not build our own dream home and take advantage  of our contacts and experience?” Roger estimated the cost of construction at $150/square foot at a total cost of $350,000 for a two story home measuring […]
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Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?

Monday August 24th, 2015

Is it smart to use part of my RRSP’s to pay down debts so I can become a homeowner?

Marie-Pierre decided to buy a nice home in the suburbs.  However, when she applied for a loan with her financial institution, she was refused.  They explained to her that she was already carrying too many debts and fixed monthly payments to qualify for a mortgage. Later that night she met up with some friends and told […]
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It is important to know what credit bureau is.

Monday June 8th, 2015

It is important to know what credit bureau is.

A credit bureau is your financial x-ray; it rates  your ability to pay or reimburse your debts, which in turn, establishes your credit worthiness to lenders. If you are looking for a property, you must make sure that your credit bureau has all the correct information in your file. When you ask for mortgage pre-qualification, […]
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Get rid of your credit card debt!

Monday June 23rd, 2014

Get rid of your credit card debt!

Imagine this: your son is in immediate need of braces, but all your credit cards as well as those of your partner have reached their spending limit. Are you in a momentary bind? What if I told you I could help you? Let’s say the residual mortgage on your bungalow, worth $290,000, is $170,000 and […]
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When back to school expenses and your summer vacation leave you strapped for cash.

Monday August 19th, 2013

When back to school expenses and your summer vacation leave you strapped for cash.

Your summer vacation was great, but your budget took a hit; back to school brings its own new expenses, and you have been carrying some credit card debt for far too long. Clearly, the passing time has not sorted out this situation. Now may be the right time to review your overall financial situation and […]
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