Bringing Order to Financial Disarray

Some sample mortgage transactions.

New private first mortgage

Problem: House in power of sale. Owners evicted, living in a hotel.

Solution: New private first mortgage, paying out existing first mortgage and arrears. Couple returns to their home.

New sub-prime first mortgage

Problem: Couple in consumer proposal, with a private first mortgage. Needs $50,000 to pay out proposal and car loan. Also needs house repairs.

Solution: New sub-prime first mortgage, paying out existing private first mortgage, consumer proposal, car loan, and repairs. Result is one low monthly payment – 43% less than before

New private second mortgage

Problem: $35,000 in credit card debt, behind on mortgage, recent job change.

Solution: New private second mortgage, reducing monthly payments by 58%.

New sub-prime first mortgage

Problem:Bank refuses to accept income from pension, CPP & OAS. Bad credit with tax arrears and lien on house.

Solution: New sub-prime first, paying out all the credit card debts, tax arrears, and lien.

New private second mortgage

Problem: $120,000 of credit card debt, self-employed, has not filed taxes in 3 years.

Solution: New private second mortgage. Lowers monthly payments 39%.

New private first mortgage

Problem: Power of sale, mortgage 7 months in arrears, horrible credit, and unemployed. Gave deed to house to a friend, who then declared bankruptcy.

Solution: New private first mortgage clearing existing mortgage, arrears, and paying bankruptcy trustee to return deed to rightful owner.

Private Funds When Banks Won't Lend

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