06-26-2009, 03:43 PM
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#1 (permalink)
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Base Member
Join Date: May 2009
Location: Nebraska
Posts: 93
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Rep Power: 16
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Quote:
Originally Posted by Sibze
That’s wrong. A House (Mortgage) is probably the EASIEST form of credit to get especially in Canada and even more before the credit "crunch"
Reason = Mortgage is fully secured to an assets that will not depreciate but will increase in value. A bank is more guaranteed because the home value will not decrease 25% the first time its "driven"
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Agree. I got approved for a 140k Mortgage loan with no credit history. I do, however, have a good paying salary. But, when I tried to apply for a credit card to start establishing credits, I got denied everywhere. I have to use my dad as a co-sign.
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