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Category: Alternative Mortgage

31 Oct, 2024 woman wondering what happens if you miss a mortgage payment
Jeff Di Lorenzo Alternative Mortgage,Home Equity Loan

What Happens If You Miss Or Are Late On a Mortgage Payment In BC, Canada?

Missing a mortgage payment in British Columbia, Canada can have serious implications for your financial health and homeownership status. Recent data from the Canadian Bankers Association shows that as of January 2024, 0.15% of residential mortgages in BC were in arrears for 90 days or more. While this percentage is low, mortgage arrears are expected to rise back to pre-pandemic levels by the end of 2024

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25 Sep, 2024 people securing the best mortgage rates BC
Jeff Di Lorenzo Alternative Mortgage,Home Equity Loan

Securing The Best 2-nd Mortgage Rates BC Can Offer

A second mortgage is typically acquired when homeowners need access to funds for specific financial goals, such as home renovations, debt consolidation, or major expenses like education and medical bills. It allows homeowners to tap into the equity they have built up in their property while still maintaining their original mortgage. Understanding second mortgage rates BC offers is crucial, as these loans often come with higher interest rates due to the increased risk for lenders compared to primary mortgages.

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23 Jul, 2024 line of credit vs mortgage for home renovation
Jeff Di Lorenzo Alternative Mortgage,Debt Consolidation,Home Equity Loan,How To....

Line Of Credit Vs Mortgage: What’s The Difference?

Choosing between a line of credit vs a mortgage is simple once you understand how each one of them works. In this post, we’ll explain the differences between the two most popular home equity loans homeowners can choose from, so you can make an informed decision.

We hope this article will help clarify any questions you might have and give you a roundup on the basics of home equity lines of credit vs mortgages.

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4 Jun, 2024 man discussing the most brilliant way to pay off your mortgage
Jeff Di Lorenzo Alternative Mortgage,Mortgage Solutions

The Most Brilliant Way To Pay Off Your Mortgage Faster: Hacks For Financial Flexibility In British Columbia

Are you struggling to pay off your mortgage? With the rising cost of living in BC and the challenges of today’s economy, it can be difficult to make those monthly payments and pay off your mortgage early, or at all. But, there is a brilliant solution that can help you save money and become debt free sooner: using a home equity loan. 

Before we look at the most brilliant way to pay off your mortgage, let’s first discuss the main challenges mortgage owners face nowadays.

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3 Jun, 2024 how to buy someone out of a house
Jeff Di Lorenzo Alternative Mortgage,How To....,Mortgage Solutions

How To Buy Someone Out Of a House Mortgage In BC, Canada?

How you choose to approach the issue of buying someone out of a house depends on the complexity of your relationship. One usual solution for many parties terminating their relationship is completing a buyout.
So how do you buy someone out of a house? Are married couples facing more red tape than common-law couples? How do you decide who stays and who goes?

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25 Apr, 2024 Neighborhood
Jeff Di Lorenzo Alternative Mortgage,Home Equity Loan

Understanding Second Mortgages Vs Home Equity Loans In British Columbia, Canada

When it comes to leveraging the value of their property in British Columbia, homeowners often find themselves weighing the options between a second mortgage vs home equity loan. Both financial tools allow you to access home equity, which can be particularly useful for various real estate developments and personal finance needs.

In this blog, we’ll delve into the nuances of home equity loans vs second mortgages, and explore their applications in various real estate projects.

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25 Mar, 2024 home equity loan rates in vancouver
Megan Kioulafofski Alternative Mortgage

7 Insights Into How To Unlock Competitive Home Equity Loan Rates In Vancouver, Canada

Home equity loans offer a valuable financial tool for homeowners, allowing them to leverage the equity built up in their homes. In Vancouver, where the real estate market is dynamic, securing competitive home equity loan rates can be particularly beneficial. This blog aims to provide insights into navigating private lending to achieve favorable home equity loan rates—especially for those with less-than-perfect credit.

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20 Mar, 2024 couple getting a home equity loan for bad credit
Megan Kioulafofski Alternative Mortgage

Navigating Home Equity Loans For Bad Credit In BC: A Path To Financial Freedom

Homeowners with bad credit often face challenges in securing home equity loans. Understanding the local market in British Columbia (BC) and alternative lending options is crucial for these individuals.

This article aims to provide a comprehensive overview of home equity loans for bad credit, the impact of credit on loan rates, private lending rates in BC, strategies for securing competitive rates with bad credit, and practical steps to overcome challenges.

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6 Apr, 2022 self-employed mortgage qualifications for man planning to buy a house
Jeff Di Lorenzo Alternative Mortgage,Mortgage Solutions,Private Mortgage Lender

A Guide To Self-Employed Mortgage Qualifications

Meeting all the qualifications required for getting a self-employed mortgage can be challenging but not impossible. Traditionally the bread and butter of B-lenders, the ever-expanding private sector of individual contractors and freelancers have encouraged A-lenders to accept their business too.

However, if you’re self-employed, there are a few things to keep in mind to secure a possible mortgage offer.

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