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[…]

“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[…]