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Tag: Bad Credit

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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15 May, 2018 Mortgage Deals November 2018
Jeff Di Lorenzo Alternative Mortgage,Debt Consolidation,Home Equity Loan,How To....

How To Get A Home Equity Loan Bad Credit

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.

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8 May, 2018 home equity loan
Jeff Di Lorenzo Alternative Mortgage,Debt Consolidation,Home Equity Loan,Mortgage Solutions

What to Consider When Looking at a 2nd Mortgage in BC

Second Mortgages are a fast and easy way to obtain money using a home equity loan to do things like: debt consolidation, home renovations, create fast business capital if your self employed, pay outstanding bills like taxes or liens. These are great for reducing payments, paying out debts or increasing cash flow but what else should you consider?

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2 Oct, 2014
Jeff Di Lorenzo Alternative Mortgage,Home Equity Loan,How To....

Bounced Cheques & NSF’s

Sure almost everyone has had a cheque bounce once in their life and you might think that it is not that big of a deal. Did you know that this can lead to larger financial problems and possibly criminal charges? If you are accused of deliberately defrauding someone by writing a bad cheque you could face criminal charges. As well if you have written a bad cheque in the past your bank or financial institution may put holds on the cheques you are trying to deposit. This can significantly impacted your day to day banking & possibly make you late on paying your bills or worse paying your mortgage payments.

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