Saturday, October 21, 2017

Your Annual Credit Report Review Hello and welcome to another consumer tip, courtesy of your friends in the mortgage lending industry at Canadian Mortgage Finders. There are a number of things that we have gotten into the good habit of doing each year like an annual visit to your family doctor, you annual dental checkup and the once a year delight of visiting your income tax accountant. This week I am going to suggest you add another item to your annual list of things to do. May I respectfully suggest you check your credit report once a year. In a world filled with fraud artists it pays to be proactive and ensure that only you are using your credit. In the world of borrowing it pays to know that your credit report reflects your best repayment history and one of the best ways to do that is by annually requesting a copy of your report. Now there are two ways you can do this. The first via the internet, go to equifaxx dot ca and pay to have them allow you to download your credit report. Two little problems with this, one, you have to pay, and secondly they do give you an overall credit score however I recently learned that the score they give you is not the same score as the one I see as a lender so what’s the point of getting a score that isn’t truly accurate. Here’s what I recommend, send me an email and I will send you a special form that you can fill out, attach a photocopy of some personal identification, then fax it to Equifax and they will mail you a copy of your report within 2 weeks for free. You can do like I do, fill out the form once, and use it year after year as long as your information hasn’t changed. If you are like me, free is almost always better than having to pay.
Thanks for watching and remember we are never too busy to help a friend in need, review their mortgage financing options.


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