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Understanding Payment Deferrals And Credit Scores During COVID-19If you are experiencing reduced or limited income, you could be finding it hard to make monthly payments on time. However, defaulting or missing a due-date can cause a problem down the road, as payment history makes up 35% of your credit score. As a way to provide support during the coronavirus pandemic, big banks, lenders and governments are offering financial relief to help those struggling to make payments due to COVID-19.Karman KuaMar 26, 2020Learn More |
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Borrowing 101: Introduction to MortgagesFor most Canadians, a home is the largest purchase you’ll ever make. Given all the options available for mortgages, it’s important to understand the differences so that you can find the right product for your needs and use credit responsibly. The Borrowell TeamApr 27, 2020Learn More |
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A Simple Guide To RefinancingGiven the unstable economy, making loan payments may be tougher than you ever expected. Instead of defaulting on your payments, it might be a good idea to consider different options such as payment deferrals, debt consolidation or refinancing to help you manage. The key is to make sure you understand how each works and whether it meets your goals and current financial position. The Borrowell TeamApr 08, 2020Learn More |
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