Second mortgages can be very useful for a few reasons. If you need to take some equity out of your property (commercial or residential) but have a large penalty to break your first mortgage, you may want to consider a second mortgage to avoid the penalty. If you are self-employed and can’t verify your income… Read More…
Posts from May, 2015
All Mortgage Penalties are not Created Equal
03/14/2014 Here’s a great article from the Globe & Mail: The hidden trap of mortgage penalties at the big banks ROB CARRICK The Globe and Mail, Dec. 04 2013 It’s easy to get caught in the posted mortgage rate trap at the big banks. No, you won’t have to pay the posted rate on your… Read More…
Is a Rent-to-Own Right for You?
Are you a homeowner who needs to refinance past 80% of the value due to financial challenges? Are you wanting to purchase a home but don’t have sufficient down payment or have credit issues? You may want to consider a rent-to-own situation. For the homeowner, refinancing past 80% is a thing of the past (except… Read More…
A New Economic Normal?
A growing number of long-range economic forecasts suggest we are heading for a new economic normal; slower economic growth and persistently lower interest rates. The latest report from one of the country’s large financial institutions forecasts Canada’s growth to be 1.5%-2% for about the next 16 years. That rate is 30-50% lower than the historical… Read More…
How to Take Care of CRA Debt?
If you owe CRA a significant amount of money due to a re-assessment & have no way to pay it, you may have options. Any schedule 1 bank that you walk in to won’t allow you to refinance your home to pay CRA debt, but I deal with a schedule 1 bank that WILL allow… Read More…
More Changes to Mortgage Rules
A couple of weeks ago the Office of the Superintendent of Financial Institutions (OSFI) announced its complete B-21 guidelines for underwriting insured mortgages (less than 20% down payment/equity). The industry has until June 30/15 to implement the new guidelines. Cash-back mortgages: OSFI is still allowing these but it should not be considered part of the… Read More…
Is Your Income Too Low to Qualify for a Mortgage?
I recently did a mortgage for a client who had good credit but limited income. He had gone to his bank to refinance his home but was declined because his debt servicing ratios were higher than the bank’s guidelines allowed. A friend recommended him to me. I got him the new mortgage with the… Read More…
Drowning in Debt
Are you finding that you are drowning in monthly payments to your creditors, with no hope in sight? If the only option to you seems like bankruptcy or filing a consumer proposal, you may have another choice. I am working with clients who have almost $50000 in unsecured debt with several late payments. We were… Read More…
US Commercial Lending
Are you looking for financing for projects in the US? I have access to funds for the following projects: Real Estate Gold Oil/Energy Manufacturing Hotels/Resorts Defence Projects Contact me today at 1.877.336.3545 for more information.
How to Rid Yourself of High Interest Debt
Are you in need of a spring financial tune-up from the holiday bills that still aren’t paid off? I can help you to kick start your spring with a plan to minimize your monthly expenses and your interest carrying costs by conducting a no-cost, no obligation financial check-up. As an example, please see before… Read More…