Buying a House with Bad CreditPosted by Greg Dewar on
Because buying a home is usually considered to be a good investment, many people want to get into the real estate market, regardless of their credit history. Right now, the real estate market is favourable to buyers since interest rates have remained low for so long. But for those who have a bad credit history, buying can be tough. In 2012, the Globe & Mail reported that more than one in eight Canadians will declare bankruptcy or negotiate a debt settlement with creditors. This means that there are a lot of Canadians with bad credit who recognize the value in purchasing a home. Here are somethings to keep in mind if you’re buying a house with bad credit.
You might need to wait two years after you’ve been discharged from bankruptcy or consumer proposal…
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