Canada Mortgage Hub Discussion Board

Canada Mortgage Hub Discussion Board



SearchSearch   Members      Login
Today: 20.01.2018 - 15:10:32
   Canada Mortgage Hub Discussion Board -> Mortgage Rates Canada -> Why does mortgage payment history not appear on credit reports?
Autor Post

renevdplas

User



Statistic:
Total topics: 6
Total posts: 41
Reputation: 677 ±
Penalties: 0
Why does mortgage payment history not appear on credit reports?
--------------------------------------------------
--------------------------------------------------
Canadian discount brokers
Post # 1.

pnjoleary

User




Statistic:
Total topics: 12
Total posts: 60
Reputation: 254 ±
Penalties: 0
In Canada your mortgage history does not appear on your credit bureau unless it is setup as a line of credit. This shows up as a revolving credit line that is tied to the value of your property. Basically think of it as a large credit card but your house is the asset.Your good payment history with a mortgage is shown when some lender may ask for a mortgage rating or current mortgage statement.In most cases if your payments are going to be late on something, I've found that the last thing people want to be late on is their mortgages. People let credit card payments or loan payments slide or be late but most of the time unless things are in real trouble, your mortgage is usually the last thing you will be late on.
--------------------------------------------------
Post # 2.
1  


Powered by © 1.8 eXclusive