mortgages to now show up on bureau
co-signers and guarantors will be reporting...
Jan 30th, 2010 9:56 pm
Jan 31st, 2010 12:27 am
Jan 31st, 2010 11:56 am
Jan 31st, 2010 12:17 pm
+1. A mortgage is not a standard loan, so they hopefully are treating it differently.
Jan 31st, 2010 12:36 pm
Jan 31st, 2010 7:47 pm
Jan 31st, 2010 9:21 pm
Utilization HAS to be only for revolving credit accounts (i.e. LOC, credit card), no? The entire point of the utilization measure is to see how much you are stretching your credit, i.e. how close you are to defaulting and how eager you are to consume your available credit.
Feb 1st, 2010 10:53 am
Feb 1st, 2010 3:36 pm
Feb 1st, 2010 3:44 pm
Well, here's the thing. Canadian real estate is at least 100% overvalued, and maybe even more in some locations, by most traditional metrics.liorsyncro wrote: ↑It's an installment loan. Up until very recently mortgages were not reported on bureau. The concern came mostly from real estate investors who are constantly buying and selling. Personally, I think mortgages don't provide an accurate representation of someone's debt habits because a mortgage covers a necessity: shelter.
No, the credit card gets paid first, because if not, the credit card company can (and does) shut the card off instantly. Whereas, a foreclosure is a much longer process. Especially when everyone else is getting foreclosed upon, foreclosures can take years simply because of a backlog in the system.If people are stretched with money and they have to decide between paying their mortgage or a high interest credit card, most I would hope have the common sense to make the mortgage payment.
Feb 1st, 2010 7:28 pm