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How is your credit?

Friday Apr 07th, 2017

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"How is your credit?”   If someone asks this question from you, you might wonder what it means, if you are a newcomer from Sri Lanka. In Canada, "credit" means your "creditworthiness" not anything else. It is not credit/debit in accounts. In other words credit means how reliable you are, for someone else to give you a loan.   In Sri Lanka you should have a good rapport with your bank to establish your creditworthiness then you have to... [read more]

Foreclosure v.s. Power of Sale

Tuesday Dec 27th, 2016

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In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

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