FocusCanada Forums

Looks like a stellar credit rating will allow me to do what many said couldn't be done.

I am pre-approved to take over the entire mortgage on my own plus buy out the other half's equity. If anyone has ever followed any of my real estate threads over the years you know how much is involved.

It's hard to see the importance of good credit when you are young and some, no matter how old, never understand it.

The best part is you can have little money and a good CR and be better off than someone with lots of money and a bad CR.

Or worse no money and a bad CR or best some money and a good CR.

TAKE THAT PYRAMID SCHEME!

I can't talk about dollar amounts right now but it's lots. When the time comes I will. I can share what I did over the years to make my CR so impressive to the bank and remember you can have any amount of money and still have a stellar CR and it is also never too late to start. It's easier to improve your CR than your bank balance.

Buy out the focus!

Agreed on the good credit, without good credit you don't get anywhere.

Good credit means I can have a car!! :)

I got a visa when I was younger...like 15...co-signed with my dad and it really made a huge difference when I needed it!

hardk0re,Dec 15 2005, 08:34 PM Wrote:Buy out the focus!
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If she wants it she can have it, if she doesn't I'll keep it (not sell) but I have NO CLUE what she wants. She TTC's to work so it was only a luxury item used by her on weekends.

It was paid for the day I drove it off the lot, in my name and I used it the most and it is a better car for commuting to the Hammer.

I don't need or want two cars but there is value in having two cars (both paid for) in that the life of both is doubled, the extra insurance cost is a huge money saver long term compared to buying something new.

Please share your wisdom with me !!! :) Especially if it involves Real estate, I'm finally moving out in about 4 months, but more than likely to an Apt.....

I guess Alexander's legacy will live on huh?


Good for you Andrew.

Keeping good credit over the past few years was probably tough for you.

WAY TO GO!

Beginner's tip: buy small stuff on the card each month that you've already budgeted cash for anyways. Pay for it with the card, and pay the bill for the card in full as it arrives. Presto, an easy and sustainable way to build a solid credit record.

It's not how much you can spend, it's how you treat what you can spend.

Congrats Andrew, I'm glad some things are looking up for you!

Tip: get a line of credit, even a small one, use it and pay it off and repeat a few times. Builds a good history.

Tip. Find a wife that hates spending money. Then spend what you want. Have her pay the bill at the bank at the end of the month.

I love my wife

This is good news indeed!

glad to hear man. not to mention a bit of extra spending money you'll have once you sell those wheels .. that's a bottle of rum and a helluva lot of chicken wings.