Canadian Credit Bureaus - Home Repossession - Canada

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RE: Home Repossession

Postby dominoes20 » Sat Apr 17, 2010 08:04:21 AM

Really? what type of mortgage do you have?
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RE: Home Repossession

Postby Marquisse » Thu Apr 15, 2010 07:08:49 AM

My mortgage amount and history is on both my equifax and transunion reports. Do you mean default of mortgages?
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RE: Home Repossession

Postby dominoes20 » Fri Feb 05, 2010 08:46:17 AM

To answer your question.... In Ontario mortgages do not show on your credit report... that said if you go through a reposession and you do not pay out the entire mortgage then the bank can choose to place the remaining amount on your credit report and it will remain there for 6 years from the date of default or last payment.
But if you have paid the entire amount back to the bank then no it will not show up on your credit report and you can buy another home immediately as long as you meet the requirements of the new bank you choose to deal with.
...and believe me, lending has opened up so even if you have credit issues in the recent past it does not mean that you will not qualify for a new mortgage.
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RE: Home Repossession

Postby Millie P » Thu Dec 31, 2009 04:39:46 AM

I don't know the answer to your question -- I suspect yes as that is the case in the States so I assume it would be the same in Canada.

That being said the easy way to find out is to just order your credit report. You get one free paper report via mail a year by following the request procedure on Equifax / Transunion's website. If you want to know faster just pay $30 and get it instantly online.

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Home Repossession

Postby cookiemimi » Sun Dec 27, 2009 07:45:55 PM

In 2003 financial matters got very bad. We were evicted from our home in December 2003. Home Trust took over the house. It sold in March of 2004, for the full morgage. i need to know if a home repossession goes on the credit bureau, and if so how long does it stay on. Does this also affect us if we try to get another morgage.

thanks
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