Mortgage Corner - Information makes the difference.
Credit Rating
Your credit rating is a measure of your credit-worthiness or in other words, your record of borrowing and repayment. Without a credit rating, few institutions will lend you money.
Governed by provincial laws, the credit bureau - the clearing-house of information on consumers' use of credit - provides a credit history, which is a list of facts about how you handle debt. This information is gathered from financial institutions, retailers and other lenders. Most of your credit information remains on your file for seven years. In addition to negative information, positive information is also reported on your file. Here is how to build a good credit rating:
Checking Your Credit Rating
As a consumer, it's your right to know your credit rating. Credit can be denied based on inaccurate or insufficient information. You may want to check your file if you aren't sure of your credit rating, if you are refused credit or if you plan to apply for a large amount of credit such as a mortgage. You can get a copy of your credit report through one of the many credit bureaus across Canada for free or for a nominal charge.
Here are some guidelines:
Dealing with a Credit Crisis?
Chances are you have a credit problem if you:
Here are some tips to help you recover:
|
|
John Mercer |
|
johnmercer.realtor@gmail.com | |
Right At Home Realty Inc., Brokerage |
|
895 Don Mills Road, Suite 202, Toronto, Ontario M3C 1W3 |
|
Direct 416-219-8098 |
|
Home 905-895-2496 |
|
Office 416-391-3232 |
|
|
©1999-2024 CRWork.com®. All Rights Reserved. |
The material provided in the pages of this website is for informational purposes only. Although the site owner and creators assume the information to be correct, and attempt to keep information in the pages of this website as current as possible, they do not warrant the accuracy or completeness of any information included in or linked to this page. |