Richard Moxley (“the Credit Guy”) on Deferring Mortgage Payments

Got questions about deferring payments during COVID-19? Check out this March 2020 interview with Richard Moxley (aka “The Credit Guy”), author of best-selling book “The Nine Rules of Credit” and more recently “The Credit Game”. Richard’s comments are more general to encompass a variety of credit forms including credit cards, lines of credit, and instalment[…]

COVID-19 Mortgage Relief – Lender contact #s

In response to economic challenges relating to the COVID-19 pandemic, most lenders have launched programs to help ease the pressure of mortgage obligations for homeowners affected by income loss. The specific flavour of relief may vary by lender, but generally speaking they include options to defer payments without affecting your credit score, and traditional fees[…]

“No Stress Test” option still available!

Don’t Stress about the Stress Test Borrowers presenting with 20%+ downpayment are frustrated after new stress test rules resulted in approximately 20% reduction in borrowing power. However, there’s good news (for now)!    The stress test does not apply to provincially regulated lenders; while some have voluntarily implemented it, a few are still qualifying under[…]