What’s the deal with home capital group?

What’s the deal with home capital group?

You may have noticed some alarming headlines in the news recently surrounding HCG and the effect that their troubles may have on the Canadian banking system at large. But what is HCG? HCG is among Canada’s largest ‘alternative mortgage lenders’. They do other things but we’re mortgage folks so we’ll focus on that side of their business. Alternative lenders offer mortgage financing to people who are unable to get a mortgage from a major bank; people who often have damaged credit or non-traditional forms of income. Essentially they are less risk averse than the major banks; but with higher risk come higher rewards and as a result HCG borrowers could expect higher interest rates and upfront...

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Aggressive sales at the bank

Aggressive sales at the bank

For starters – check out what Rob Carrick has to say from the Globe & Mail about this.   Just because the banks are extending you credit it does not mean you qualify for it. It would be hard to miss the CBC exposure of the Bank employees complaints of...
The PMG Podcast

The PMG Podcast

DEBT SERVICING How much debt is okay? More importantly, how much should I spend each month on paying back my debts? The answer to that question is the key to a healthy financial life. If you spend all of your income on paying off debts, you might not save enough (or...
Debt Zombies

Debt Zombies

In the spring of 2012, we were trying to come up with something fun to send out to the neighbourhood as our debt consolidation outreach. We are the first people you should call when you need to consolidate debt because we not only help to consolidate your debt, but to...