A hard money lender can mean different things to different people. In BC real estate this refers to individuals or companies like a (MIC. Mortgage Investment Corporations) that lends mortgages outside the banks strict lending guidelines. In the mortgage industry we refer to hard money lenders as private mortgage lenders or home equity lenders.
Getting approved for loans in Canada with no credit check sounds a bit far-fetched. That is until you google it and find out how easy it really is!
Maybe you are in need of some quick cash due to some unexpected expense. It could be a medical emergency, a vital appliance repair, or the family car that finally broke down. Or perhaps you’re just a bit short on cash and trying to stay on top of your bills to avoid paying a hefty fine.
A Foreclosure is a legal action that a lender can take if a person or company who borrows money using a mortgage stops making payments on the mortgage or violates any terms of the mortgage like “example” outstanding property tax or fire insurance policy that elapses etc.
Usually, when people file a consumer proposal, it is to assist them with debt consolidation by restructuring it all into one manageable payment. Once they’ve done this, homeowners usually see significant cash flow relief but still have this monthly bill looming over them.
If you are living in British Columbia and are looking for debt load relief by paying out your consumer proposal early, then keep reading!
The purpose of a depreciation report is to give a standard to follow to all strata and strata companies in BC. This helps condo purchasers and mortgage lenders have a clearer view of the building’s health and the common property associated with it.
In this article, we’ll discuss whether or not depreciation reports are mandatory in British Columbia for purchasing a strata property.
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.
Buying a home before selling your home can be accomplished a few different ways. If your income, credit & debt servicing allows, you […]
If you are a home owner in British Columbia and you have fallen behind on payments or your bank will not renew due to previous payment history here is some options you can consider.
Second Mortgage Surrey BC
Funds to consolidate debt and complete renovations to client’s surrey condo. This was a previous client with a proven payment track record. Was able to provide financing to 65% of BC Assessment
2nd Mortgage Rate 7.95%
Total Mortgage $55,000
Home equity loans can be used for a variety of reasons even bad credit. When you have bad credit a home equity loan can allow you to payout or negotiate your debts which should improve your credit and improve your chances of qualifying back at a bank in as little as 12 months. Second mortgages are mostly used when consolidating your debts into a bad credit mortgage loan.
