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Economies have stagnated as governments around the world implemented strict measures, including social distancing and work stoppages, to halt the spread of the contagion. Mounting debt and unemployment are exacerbating the threats to Canada’s economy and financial system, as the reduction of income is particularly...

Debt has been the most pressing issue during this COVID-19 situation. Our previous posts have addressed some of these issues from the danger of predatory lending to the help you can get from credit counselling. Managing one’s debt is extremely important. However, each case is...

More so now than ever before we see people worry about their debts. COVID-19 brought an unprecedented reality to all of us. If you are out of work as a result of the coronavirus pandemic, you have noticed by now that the bills were not...

Predatory lending is not something new and has been affecting many Canadians across the country for many years (check our previous post on this topic). However, the unprecedented financial situation caused by COVI-19 has made predatory lending easier and many Canadians are falling for...

As we are going through these unprecedented times, we’ve been seeing a lot of references to predatory lending. Many wonder what this term refers to in the world of mortgages. Essentially, predatory lending is the practice whereby a lender deceptively persuades a borrower to agree...

The situation created by COVID-19 is rapidly changing and new information is being delivered on a daily basis. Amid all the changes happening at the social, medical and government levels, some news that had been introduced in the month of February have now changed or...

One of the surprising news this week was the just announced rate cut by the Bank of Canada. Since the start of the month, the rate has been cut twice. This time around the central bank’s benchmark interest rate was cut by 50 basis points...

Our last post was about consumer proposals as an option to avoid bankruptcy. We all work really hard to avoid going bankrupt, but, in some instances, it might be the only possible way to deal with debt. Just like with anything else, the most important...

We’ve spoken about this topic many times on our videos and podcasts. As we always say, it is extremely important to stay informed about all the topics concerning mortgages. A consumer proposal is a legally binding debt settlement agreement, filed with a Licensed Insolvency Trustee, to...

When introduced, the stress test was in itself a cause of great stress for many prospect home buyers. Suddenly, many people were faced with the reality that they could not buy the home of their dreams due to the restrictions put in place to qualify...