The CanadaLend.com slogan reviewed
Let me begin this post by asking you a question do you think majority of Canadians have good credit or bad credit? If you said bad credit your wrong in fact majority of Canadians have good credit. If Canada or Canadians didn’t have good credit nobody outside of Canada would except the Canadian dollar. Canadians are typically good at repaying debt which makes me wonder why Canada Lend would embrace a slogan that says “Banks say no we say yes”. Acting as if they’re only after the clients with horrible credit.
What caused the Mortgage Meltdown in the United States of America
To the best of my knowledge CanadaLend.com is a Mortgage brokerage and based on their slogans it seems to me that they’re targeting consumers with bad credit that we’re turned down by banks because of delinquency related credit issues. The mortgage meltdown in the United States was caused by the same type of consumer that in my opinion CanadaLend.com is trying to target. Mortgage brokers and mortgage brokerages in the United States have a very bad name right now in fact some brokers in the United States are in fear of losing their lives because they put good people into bad mortgages.
Personally I don’t think every person deserves a mortgage in Canada. A mortgage is a serious financial debt and as many of us know housing prices don’t always rise on top of this paying your mortgage is not the only bill a person will have to pay when they decide to become a home owner. I’m not anti owning your own home but I think targeting consumers with bad credit is a practice mortgage brokers need to stop doing in Canada as a whole.
Another reason I say this is because desperate people tend to do things that they later regret and the fact that to me it seems like these consumers are being targeted by CanadaLend.com shows why majority of the Canadian consumers are in debt. Canada does not have the luxury of printing money the way America does, our money is not the worlds reserve currency and being that majority of Canadian debt is mortgage debt I think mortgage brokerages should be more responsible on how they target their consumers.
If there’s a crack in the Canadian system we as Canadians all go down.
Is it really the right time to buy a house?
My question to you is how much are you putting down and also what type of financial equation do you have going on in your head. Are you expecting to win the lottery or do you really plan on working everyday for the next 10 – 20 years to pay off your mortgage. I always hear people saying new Cars depreciate the moment you drive them off the lot. Well another thing to keep notice of is that houses do get old and eventually will need fixing and upgrading. Gas, hydro etc. prices are real, property taxes are real.
Recessions and people losing their jobs are real is that something you’re prepared for or something you will be prepared for when you decide to become a home owner. If you answered yes and you want to see what a mortgage broker/agent can do for you than give CanadaLend.com or your local neighborhood mortgage brokerage a try. If you truthfully answered no than wait until you’re financially capable.
There’s no need to keep up with the Jones’s especially when the Jones’s don’t share their financial balance sheets with you!
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