From: Joe Malek --
Dear Friend,
Are you searching the internet for the best ways to consolidate your debt into one low monthly payment, refinance mortgage, renew mortgage or home purchase financing?
Are you looking to be pre-approved for your next mortgage at the best mortgage rates on the market for your situation?
Well... You’ve arrived at the right place -- I can provide you with up to 5 financing options at no obligations!
I am a specialist when it comes to low interest rate mortgage financing for home purchase, mortgage refinancing and renewal, 2nd mortgage and credit card debt consolidation.
I am ready to help you with...
The first thing you'll need to do is subscribe to my mortgage tips newsletter where you will discover the best mortgage products at the best mortgage rates on the market today.
To join my FREE mortgage tips newsletter simply enter your full name and email address below but please make sure you enter your full name and correct email address to receive all of this insider information.
Mortgage Tips Newsletter Subsription Form
ACCESS TO ALL MORTGAGE LENDERS!
Would you like a TD Bank Mortgage, Scotia Bank Mortgage, Macquarie Mortgage or ING Direct mortgage?
I do all of them with one application...
I want you to own your home sooner by paying as little interest as possible over the life of your mortgage and that's why I offer great mortgage rates!
FOR EXAMPLE: with FIRSTLINE MORTGAGES, ING DIRECT, MACQUARIE FINANCIAL, LAURENTIAN BANK, TD CANADA TRUST and SCOTIABANK you may get a good rate but you'll need me to get their best mortgage rate... (Insider Secret #1)
You are literally 30 minutes away from making YOUR life easier
Because inside this website you will learn:
- How you could quickly lower your monthly payments by 50% or more!
- Which financing options are proven to work and which are not!
- What exactly you need to do to get the best interest rate!
- How to improve your credit rating and credit score fast!
- How you can get a free home appraisal everytime!
- And much, much more!!
Debt consolidation strategies are for homeowners only so renters click here.
I’ve already helped THOUSANDS of homeowners and now could be your turn!!
I am talking about people like Cheryl and Robert... they are saving over $1,100 every month with my help!
| “Hi Joe, Thank you very much for all of your help. We really appreciate your promptness and your great knowledge. You have made this process a great ease and pleasure. Thank you! Cheryl and Robert McLachlan, Oshawa, Ontario” |
Cheryl and Robert were spending $1,797.00 each month on 2 mortgages and 4 credit cards and I reduced their monthly payments to less than $800.00 dollars.
My FREE information could help you to:
- Save time!
- Save money!
- Improve credit!
- Avoid disastrous situations!
As I already explained above... I've already helped thousands of homebuyers and homeowners.
This work earned me “TOP VOLUME MORTGAGE BROKER AWARD” from many mortgage lenders including XCEED Mortgage in 2004, Maple Trust in 2005 and Macquarie Financial in 2007... just to name a few.
Here is the complete list of 70 Canadian mortgage lenders I am electronically connected to today.
Can you imagine how long it would take you to go to each of their offices to see about their mortgage rates and submit your application to them for approval?
It would take you months to go through them all BUT the good news is that you can use my services where you complete this form which can then be submitted to all of these potential lenders using my proven system in order to deliver your approval at the best mortgage rates and the most suitable terms!
- AGF TRUST
- ABODE MORTGAGE CORPORATION
- ALTERNA SAVINGS
- B2B TRUST
- BAYVIEW CREDIT UNION
- BRIDGEWATER BANK
- CITIZENS BANK
- COAST CAPITAL SAVINGS C.U.
- COMMUNITY TRUST
- CONCENTRA FINANCIAL
- DESJARDINS CREDIT UNION
- DOMINION LENDING CENTRES
- EDUCATORS FINANCIAL GROUP
- ENVISION FINANCIAL
- EQUITABLE TRUST
- EQUITY PLUS FINANCIAL
- FIRST NATIONAL
- FIRST LINE MORTGAGES
- G & F FINANCIAL GROUP
- HSBC BANK CANADA
- HOME TRUST
- ING DIRECT
- INDUSTRIAL ALLIANCE
- INTERIOR SAVINGS
- ITALIAN CANADIAN SAVINGS C.U.
- LAURENTIAN BANK
- LENDWISE CAPITAL
- MCAP
- MACQUARIE FINANCIAL
- MAGENTA MORTGAGE INVEST CORP.
- MERIX FINANCIAL
- MOTOR CITY CREDIT UNION
- MYNEXT MORTGAGE COMPANY
- NATIONAL BANK
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- NORTH SHORE CREDIT UNION
- CDN WESTERN PEOPLE TRUST
- PROSPERA CREDIT UNION
- RESMOR TRUST
- SAVE CAPITAL FIN CORP.
- SCOTIA BANK
- SERVUS CREDIT UNION LTD.
- SPECTRUM CAPITAL CANADA CORP.
- STREET CAPITAL FINANCIAL
- TD CANADA TRUST
- THE MORTGAGE GROUP
- VALLEY FIRST CREDIT UNION
- VANCITY BROKER SERVICES
- WEST MINISTER CREDIT UNION
- XCEED MORTGAGE CORPORATION
- ALTA WEST MORTGAGE
- ANTRIM INVESTMENT LTD.
- BAYFIELD MTG PROFESSIONAL LTD.
- CAPITAL DIRECT LENDING CORP.
- COVE MORTGAGE
- EQUIMOR MIC
- FIRST SWISS MORTGAGE CORP.
- KING CAPITAL INC.
- MCC-PCF
- METRO-WEST MORTGAGE INC.
- NEW HAVEN MORTGAGE CORP.
- NEW HORIZON MIC
- PILLAR FINANCIAL
- PIONEER WEST ACCEPTANCE CORP.
- RELIANT CAPITAL LIMITED
- SECUR FINANCE
- SECURE CAPITAL MORTGAGE INC.
- SINCLAIR-COCKBURN MIC
- TRINITY DRIVERS N.AMERICA LTD.
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Most of these mortgage lenders are what we call “A” lenders offering mortgage products at discounted mortgage rates.
Some are “B” & “C” lenders who specialize in alternative lending solutions for people with less than perfect credit… or unique situation like mortgages for self-employed individuals who simply can’t prove income.
In addition to these A, B & C lenders you may also benefit from my private lender products for extremely difficult situations including foreclosure help!
Whatever your situation… I am confident that you can find my services helpful.
I know the kind of problems you are facing today because I’ve already helped thousands of people just like you!
Many of them learned the HARD WAY that asking their bank for help was a BIG waste of time and going from a bank to bank or from a broker to broker actually hurt credit score...
... You need to know that MULTIPLE loan requests DECREASE your chances of approval at discounted rates because each inquiry to your credit file IS affecting your credit score.
Plus... you may look like unwanted credit seeker which is the LAST thing you may need right now!
There are many things you could do BEFORE you apply for your mortgage.
I strongly recommend you obtain your own credit report with a credit score.
A credit score is a statistical formula that translates personal information from your credit report and other sources into a three-digit score from 300 to 850.
Your credit score is an important indicator of your creditworthiness.
In general, the higher your score, the lower the probability that you will become delinquent on credit extended to you.
Lenders use your credit score to determine if you are a good candidate for credit and likely to pay your bills.
Because your credit report is updated every day, your score is recalculated continuously and therefore your credit score from a month ago is probably NOT the same score today.
What is used to calculate your score?
- Payment history - Indicates whether you have made your credit card payments, loan payments and other payments on time.
- Amounts owed - Compares how much you owe to your credit limits with various lenders.
- Length of time in file - Indicates how long you have had credit accounts.
- New credit - Shows how often you are looking for new credit and how you handle accounts you have recently opened.
- Type of credits - Considers the type of loans you have - car loans, lines of credit, credit card balances.
Top 10 Ways to Improve Your Score
10. Learn what your current FICO® Credit Score is and what appears on your credit report. Score Power® gives you immediate access to your credit report and includes your current FICO score.
9. Don't open new credit cards that you don't need just to increase your available credit. This approach could backfire and actually lower your score.
8. Try to keep your total account balances as low as possible. High outstanding debt may negatively affect your score, as you have a greater chance of missing payments.
7. Correct any incorrect information that might appear on your credit report. Visit Fixing Errors on Your Report for more information.
6. If your credit is severely damaged, or you have a very short credit history, there are still ways to improve your credit over time. Consider opening new accounts responsibly and paying them off on time.
5. If you fall behind on paying a bill because of illness, unemployment, or family issues, write a short explanation to the credit reporting agencies. They will add it to your credit report. Also, call your creditor to explain the circumstances and, if possible, work out a payment schedule you can meet.
4. If you need help building your credit from scratch or re-establishing credit after bankruptcy or consumer proposal consider taking advantage of a secured credit card.
3. To minimize the number of inquiries on your credit report, don't apply for multiple credit cards over a short period of time, or for a card you're not likely to get. Apply for new credit accounts only as needed.
2. Make all of your payments on time. If forced to miss a payment, be sure to pay the following month. Accounts more than 60 days past due will be indicated on your credit report.
And the number one way....?
1. Continue to check your credit report regularly, correcting errors and inaccuracies that can damage your credit score.
Click Here To Check YOUR Equifax Credit Report |
When you obtain your credit before applying for a loan or mortgage, you will have the opportunity to correct the wrong information, increase your credit score which in turn could result in lower interest rate on your next mortgage.
You can obtain your credit report online from Equifax Canada, but please MAKE SURE that you get the one with the FICO score.
To do that simply click here to open a new window with Equifax site (my site will stay open) > Click on Score Power "order now" button > register new account > and you will be able to view your credit instantly.
The cost is only $23.95 but if you are married then you can double that because you'll need to get one for your spouse as well.
Now that you know your credit score, I can give you a better idea which of the mortgage and debt consolidation options you could apply for.
If you would like to eliminate your debt from your life you will need to:
1) Find a mortgage professional who will look after your best interest for the rest of your life. Be upfront with your specific needs, don’t be hiding stuff and you’ll benefit greatly!
2) Stop running from a bank to bank or from a broker to broker. Your own mortgage agent can do all that running around for you. This way you’ll get the best deal and protect your credit score.
3) Cut up all credit cards except one or two which you’ll use for emergency purposes only. You don’t need 10 different credit cards and credit lines. They make your bank richer and you poorer. If you cut them up and close the accounts then you will not rack them up again.
Here is what Terry said about my services…
| “Hi Joe, I would like to express my sincere gratitude for your assistance in getting our refinancing in a difficult situation and at a very good rate too! We closed yesterday and I really don't think we could have done this without your knowledge and expertise. THANK YOU! Terry Wastesicoot, Ajax, Ontario” |
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Does it make you mad that you are deeper in debt today than you were last year? |
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Are you waking up at night worrying about creditor calls? |
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Are you scared or unsure how to solve this specific problem? |
...or perhaps you are just worried you should do something about your situation BEFORE IT'S TOO LATE.
I don't just provide a quick fix solution to your problems I give you a long term solution that puts you back in control of your financial future…
Here Are Some of The Financial Disaster Warning Signals
Please ask yourself these 3 questions:
1) Are you starting to fall a little behind on your bills or are you already on your way to bankruptcy?
2) How can you keep bankruptcy from happening when your credit card bills just won’t stop coming?
3) How do you climb out of the debt hole without causing damage to your credit report - not to mention your quality of life?
Here are some of the common warning signals which IF corrected in time, can help you to steer clear of financial disaster...
- Spending increasing amounts of your income to pay your bills
- Putting off paying your bills for few days because you don't have enough money to cover them
- Being near, at or over the limit on your credit cards
- Making only minimum payments on your bills
- Juggling credit card bills
- Paying only minimum monthly payments on credit cards
- Using credit card for monthly expenses because you don't have cash to pay for them
- Paying bills with money which was supposed to go for something else like kids tuition or your retirement
- Have no savings
- Having your credit cards cancelled by the issuer because you have been consistently over your limit
- Had your auto or life insurance cancelled because you missed payments
- Putting off medical visits because you can't pay for them
- Working overtime or two jobs
- Received utilities shut-off notices in past
- Being overdrawn on your bank accounts
- Worrying about your money
- Argue with your spouse about money problems
- Being afraid that someone can find out how far in debt you are
- Drinking more alcohol
If you answered yes to one or more of the questions, you may or may not have cause for alarm, depending on the context of your answers.
However, if you are drawing down your savings to make minimum monthly payments on your credit card bills then the alarm bells should be ringing LOUD and CLEAR.
If you answered yes to many or most of the warning signals, you definitely have a problem and you should seriously consider taking advantage of my services before it's too late!
My clients come to me from all walks of life…
They are factory workers, construction workers, self-employed individuals, realtors, government employees, police officers, firefighters, nurses, doctors, dentists and yes, also bank employees and yes... EVEN bank managers!!
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Improve your credit rating so you can always get the lowest rates. |
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Consolidate your bills so you can enjoy one monthly payment. |
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Slash your budget so you can finally start saving. |
You can be up and running within as little as 20 minutes from now…
...and since I work fast, it’s possible you’ll see your first savings by the end of the next month!
Here Is How My System Works
- IT ALL STARTS with filling out an online form – this part takes about 10 to 15 minutes (and this is also where you tell me about your problems, goals and objectives!)
- YOU’LL receive quick response from me – this is where I will go over all of your financing options!
- YOU’LL decide which financing option best suites your current needs – Don’t worry I’ll make it really simple for you!
- YOU’LL select your financing option - I’ll match you with a lender who offers the best rate for that product (This is where you’ll protect your credit rating!)
- LENDER issues approval in as little as 1 hour -- and you'll receive it the same day or overnight!
- YOU’LL review the offer in the comfort of your home, call or email me with any questions. Then simply deliver your signed approval back to me and...
- I’LL deliver it back to the lender who will take up to 48 hours to review and provide us with outstanding conditions list (if any).
- YOU’LL satisfy outstanding conditions (income, lawyer info, etc.) and your new mortgage loan is ready for funding!
- YOUR LAWYER receives closing instructions - and pays off your debt in full, and...
- YOU ARE BACK ON THE RIGHT TRACK!
I arrange everything and you just meet with your own lawyer to close the deal.
Here is what others said about my services...
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Joe Malek was amazing and went way beyond our expectations. They were great from start to finish and really helped us out. Thank you! Dennis Family, Courtice, Ontario |
"Thank you so much. I really appreciate the speedy service you and your staff have provided for me this time and in the past. It is great to deal with people who know what they are doing!" Diane Blake, Stoney Creek, Ontario |

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Thanks for the great advice... Myself and Tom were very pleased with all your help. I would recommend your office and you to anyone. Thank you very much... The Dykstra's, Ilderton, Ontario |
Would You Like To Slash Your Payments by 50% or More Starting Next Month?
I may have up to 5 financing options for you to choose from. Some will require mortgage refinancing and other will involve second mortgage or home equity line of credit.
I will present you with all of your financing options and recommend the one that makes the most sense to me but it will be you who decides which one fits your current needs.
EXAMPLE: If your home value is $300,000 and your current mortgage balance is $185,000 then your home equity is $115,000.
You could tap into your home equity and pay off some or all of your credit cards and loans to make your life easier.
Now, let’s say you also owe $10,000 on line of credit... $25,000 on a bank loan and... $50,000 on 7 credit cards.
In total you are spending $3,488.99 while you could be paying only $1,681.02 and reduce your monthly obligations by 51.82%.
Creditor |
Balance |
Payment |
Creditor |
Balance |
Payment |
Mortgage |
$185,000 |
$1,183.64 |
Mortgage |
$275,400 |
$1,681.02 |
Credit Line |
$10,000 |
$300.00 |
Credit Line |
0 |
0 |
Bank Loan |
$25,000 |
$505.35 |
Bank Loan |
0 |
0 |
Credit Cards |
$50,000 |
$1,500.00 |
Credit Cards |
0 |
0 |
Total Owing |
$270,000 |
$3,488.99 |
Total Owing |
$275,000 |
$1,681.02 |
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Your Savings |
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$1,807.97 |
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This example is for illustration purposes only and it was based on the following assumptions: Before mortgage rate of 6% calculated semi-annually based on 25 year amortization; Bank loan 8% rate and payments spread over 5 year term; Line of credit and credit card payments equal to 3% of outstanding balances. After mortgage rate of 5.5% calculated semi-annually amortized over 25 years, insured at 2% with one time insurance premium. Annual Percentage Rate (APR) is 5.576%
Debt Consolidation Strategy # 1
Second Mortgage Up To 90% of Your Home Value!
One way to consolidate credit card bills into one payment involves 2nd mortgage financing.
2ND MORTGAGE EXAMPLE:
Say your home value is $200,000 and you owe $120,000 to XYZ Mortgage Company who has first mortgage registered on the title of your home. Your remaining home equity would be $80,000. Now let’s say you need $50,000 loan to consolidate your credit card bills.
You could tap into your available home equity and apply for $50,000 second mortgage which will be registered in a 2nd position on the title of your home right behind XYZ Mortgage Company.
Second mortgage loans are riskier loans for lenders and that’s the main reason why second mortgages have higher interest rates than first mortgages.
To provide you with good second mortgage interest rate your loan must be CMHC insured where mortgage default insurance premium is added on top of your basic loan amount.
CMHC currently charges 4.25% insurance premium for 90% LTV. In this example $2,125.00 dollars would be added to basic loan amount of $50,000 making total loan $52,125.00.
CMHC insures second mortgages to 90% of your home value.
In addition to CMHC insurance fees, second mortgages closing costs may include PST calculated on CMHC insurance premium, lender fees, brokerage fees, legal fees plus disbursements & GST… and appraisal cost (if any).
All closing costs are disclosed to you before you are asked to sign the mortgage commitment.
Would you like to save money on your second mortgage?
I’ve been arranging second mortgages for my clients for more than dozen years, saving them as much as 10% on their interest rates!
I found that the biggest problem when searching for 2nd mortgage information online is the lack of information…
If you do a Google search for “second mortgage” you’ll get over $4 million results but if you actually browse through those websites… you’ll only get a very brief information about second mortgages.
PLUS, most of their second mortgage information is out dated!
Here is what I found out there:
- Second Mortgages to 125% of Appraised Home Value!
- Second Mortgages to 100% of Appraised Home Value!
- 4.25% ‘Just For You” Second Mortgage Rate!
- 2nd Mortgage ‘Specialist’ sites without any info… just application form!
- Sites with ‘What is a Second Mortgage’ definition and that’s it!
- Sites which do not clearly display their license number!
I even went to one of my lender websites and all I found was this…
“We do second mortgages for home purchase and refinance. Property must be owner occupied… contact us!”
That’s it?... Unbelievable!!
4 million + websites out there and only a very small percentage of them provide you with specific and current dated second mortgage information like I have put together for you below…
The information at this website is current… NOT some old stuff! Here is what you need to know about second mortgages today…
A second mortgage typically refers to a secured loan (or mortgage) that is subordinate to another loan against the same property.
In real estate, a property can have multiple loans or liens against it. The loan which is registered with county or city registry first is called the first mortgage or first position trust deed.
The lien registered second is called the second mortgage. A property can have a third or even fourth mortgage, but those are rarer.
Second mortgages are called subordinate because, if the loan goes into default, the first mortgage gets paid off first before the second mortgage.
Thus, second mortgages are riskier for lenders and generally come with a higher interest rate than first mortgages.
In most cases, a second mortgage takes the form of a home equity loan and the two are synonymous, from a financial standpoint.
The difference in terminology is that a mortgage traditionally refers to the legal lien instrument, rather than the debt itself.
The term length of a second mortgage varies. Terms can last up to 25 years on second mortgages; however repayment may be required in as little as one year depending on the loan structure.
That’s what you’ll find at Wikipedia about second mortgages and hopefully it helps you to answer your question “What is a second mortgage?”
Now let me go over what this definition didn’t cover…
1) It doesn’t explain what you must HAVE to obtain a second mortgage.
2) It doesn’t explain what you must DO to obtain a second mortgage
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Home equity is the difference between your home appraised value and your existing mortgage balance.
If you don’t have available home equity then you cannot obtain a second mortgage. |
That’s why all those 125% ads on the internet are misleading.
How can you finance your home to 125% of appraised home value when it’s the home equity you need to secure a 2nd mortgage… and when the home equity is the difference between your appraised value and first mortgage balance?
It is NOT the difference between your home value (100%) and their proposed loan amount (125%) and therefore applying at their websites will be a huge waste of time.
You also need to know that as of November 6, 2008 (thanks to credit crunch) you can NO LONGER get a second mortgage up to 100% of home value!
Also, it is important to note that MOST mortgage lenders DO NOT provide second mortgage loans.
Some banks offer home equity loans to 80% of appraised home value on great credit but if you require more than 80%LTV or you don’t qualify because of your income or credit then applying at your bank will be a big waste of time!
I only recommend a second mortgage if you cannot refinance your current 1st mortgage because the penalty to break your 1st mortgage is much higher than 2nd mortgage closing costs.
In both instances (high ratio 1st and 2nd mortgages) you’ll have legal costs and CMHC fees... but with second mortgages you'll also have brokerage and lender fees.
I will disclose all costs to you well before you are asked to sign any mortgage commitment therefore click here to apply online for your lowest interest rate & low cost second mortgage IN CONFIDENCE!
More About CMHC Insured Second Mortgage To 90% of Your Home Value
CMHC insured 2nd mortgage has the lowest interest rate currently starting at bank posted rates + 1%.
Minimum loan amount is usually $40,000 and maximum loan amount is $150,000.
You can use the funds for almost any reason you can think of…
- Debt consolidation
- Home improvements
- School Tuition
- Investments
- Vacation
BUT, you cannot use the funds to pay off tax arrears, judgments, collections, late credit card and loan payments or missed 1st mortgage payments.
To qualify for this low interest 2nd mortgage you’ll need to have good payment history in the past 24 months and your credit score has to be 700 or higher.
Past bankruptcy or consumer proposal are OK providing you received your discharge at least 2 years ago and have re-establish your credit for a minimum of 1 year.
You also need to demonstrate a stable employment which means you must be with the same employer for a minimum of 1 year. If you switched employers then you must be past your probationary period and in the same industry for at least 2 years.
You’ll need an employment letter on a company letterhead confirming your length of employment, position and your annual salary.
You’ll also require the most recent pay stub and if you receive overtime or bonus income then you’ll also need 2 years CRA Notices of Assessment.
If you are self-employed or have commission income then to qualify for CMHC insured second mortgage you must be self-employed or earning commission for at least 2 years and you’ll need 2 years CRA Notices of Assessment to confirm your average income from line 150, and that you do not owe taxes.
If your income is low then I would recommend refinancing your current mortgage under ALT-A Business-for-self product (mortgage for self-employed) where we don’t have to use line 150 taxable income for qualification.
If you owe back taxes then CMHC will not approve you and therefore you are limited to some of the other options listed below.
Also, please keep in mind that you must be in your home for at least one year or your first mortgage must be insured and registered for a minimum of one year before you can apply for CMHC insured second mortgage.
Non-CMHC Home Equity Line 2nd Mortgage to 85% of Home Value
This product is great for self-employed or commissioned people who don’t report all income.
If you are self-employed then this could be the perfect product for you because…
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It is a fully open revolving line of credit which means you can pay it off completely at anytime without a penalty. |
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Interest rates are well below other credit card rates starting from 8.99%. |
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Minimum monthly payments start from 1% of outstanding balance or $10.00 or whichever is greater. |
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You’ll have a cheque book for your quick access to your unused credit limit. |
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You’ll have nice looking Gold VISA credit card in your wallet with no annual fee which you can use as any other credit card for your convenience. |
Minimum credit limit is $10,000 and maximum credit limit is $250,000 but of course to get $250,000 credit limit you’ll need to have sufficient home equity.
Currently your credit score needs to be at 640+ to qualify for 85% LTV or 600+ for 80% LTV or slightly below 600 to qualify for 75% LTV.
If you are self-employed and can’t provide CRA Notice of Assessment or you owe taxes then you will be limited to 80% LTV.
For over 80% LTV… a CRA Notice of Assessment confirming you do not owe taxes will be required.
If you are salaried employee requiring over 80% LTV you must provide pay-stub and job letter.
Here are some of the other requirements:
- 1st mortgage must be institutional and up to date
- Self-employed businesses must be registered and active for a minimum of 2 years.
- Minimum 3 years clean active trade lines on credit report
- Properties over $600,000 will be considered on a case-by-case basis
- Closing fees except appraisal fee can be charged to the card
Another great thing about this Home Equity Line VISA Second Mortgage is that unlike other mortgages, the activity on this loan will be reported to all credit bureaus monthly which helps you to re-establish your credit.
Private Lender Second Mortgages Up To 85% of Appraised Home Value
This is your last resort second mortgage option and it should only be used when you cannot qualify for the other two second mortgage options above.
There is nothing wrong with private lender mortgages.
I have many private lenders ranging from individuals to large private mortgage investment corporations who already helped thousands of other homeowners to get back on the right track.
Their second mortgage rates are higher but their qualification guidelines can be quite simple.
My private lenders have millions to lend on even the most difficult situations including... stop foreclosure, notice of sale, a power of sale or eviction...pay off back taxes, late payments, collections, judgments or consumer proposals.
There could be many other reasons why you may need a private lender mortgage money...
Private lenders are standing by to help you!
In general, they will lend up to 85% of your appraised home value in major cities but they may cut back if your home is not on municipal services or if it’s too far out of a major city.
Private second mortgage minimum loan amount usually represents at least 15% of your first mortgage balance and maximum loan amount is usually $75,000.
Majority of private mortgage lenders require supportind documents along with your mortgage application and property appraisal which MUST be ordered by mortgage broker directly.
In most instances you will receive a letter of intent which will be open for your acceptance for 48 to 72 hrs and you’ll need to respond within this time to avoid automatic cancellation of your file.
This letter of intent will spell out the interest rate, term, amortization, fees and other conditions you’ll need to satisfy before receiving mortgage commitment.
If you don’t agree with their terms then you are NOT obligated to pay any fees and the letter of intent is cancelled.
Some hard money lenders will request upfront deposit and I strongly recommend you avoid them because there is no guarantee they will lend you their money.
Private mortgage lenders will have their own lawyer to do majority of their legal work and therefore they may ask for a retainer.
This could be $250.00 in addition to the appraisal cost which is usually $250.00 to $350.00… so please make sure you have enough cash ready for these costs.
I know that if you are tight for money right now then this may be a huge task for you but unfortunately there is no other way.
Most mortgages will take about 15 working days to fund but private mortgages can take a bit longer.
If your situation is urgent then I will do my best to get it done for you quickly but please understand that I have no control over how fast the appraiser, lender or lawyer works.
I would also add here that I recommend 1 year terms only on second mortgages so we can combine it with your first mortgage on maturity to provide you with one mortgage and one payment at much favorable terms.
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Hopefully, if you follow my credit repair tips from my credit guide (which you'll receive after you apply on my secure server)...
....I’ll be able to get you into “preferred rates” on renewal of your second mortgage by combining it with your existing 1st mortgage. |
Finally, I would like to point out that if you request a private lender mortgage, you may also need your own lawyer to provide you with an independent legal advice to comply with regulators.
The next thing on your to do list is obtaining current dated mortgage statement which will confirm your existing mortgage balance and payment.
Please contact your first mortgage lender and request your mortgage statement today to avoid delays.
There are other documents you will need and here is a short list of them for your reference.
- Transfer/Deed Document
- Copy of “Registered” Mortgage/Charge of Land
- Home Insurance Binder
- Property Tax Statement
Debt Consolidation Strategy # 2
You Could Request Cash-Out Mortgage Refinancing To 95% of Home Value
Cash-Out Mortgage Refinancing provides you with the lowest interest rate on the market.
Previously, CMHC (Canada Mortgage Housing Corporation) would not insure the lenders mortgage if "the new money" was used for debt consolidation but in the spring of 2001 they finally made changes to this guideline and introduced CMHC Refinance Program.
Today, it is possible to refinance mortgage up to 95% home value (thanks to new programs) and use the new funds to pay off credit card balances, loans and existing mortgages.
This is good news for many homeowners, but unfortunately not all will qualify due to credit or debt service ratio restrictions.
Recently there were more enhancements and changes to refinance programs...
One of such improvements was the addition of mortgages for self-employed people without income verification.
Self-employed borrowers and commissioned sales people that cannot provide traditional income verification may now qualify for a high ratio mortgage to 90% of home value and enjoy discounted mortgage rates through selected lenders.
Insurers will usually determine your property value by comparing your home to their database of the most recent comparable sales in your area but sometimes home appraisal is required.
Mortgage default insurance premium is calculated on actual LTV % and your amortization length (LTV = Loan-to-Value).
If you keep your amortization unchanged then the insurer will charge insurance premium only on "the new money".
This is called a “top-up” premium.
If you change your amortization then mortgage insurance premium will be calculated on the total loan amount.
Longer amortization periods will provide you with lower monthly payments but extending your amortization beyond the traditional 25 years will result in 0.20% insurance premium surcharge for every 5 years.
Maximum amortization for insured high ratio mortgages is 35 years to 95% LTV and 40 years for uninsured alternative lender mortgages to 100% LTV.
Mortgages for self-employed or commissioned people will have slightly higher insurance premium then mortgages with confirmed or proven income.
You will also have a penalty to break your current mortgage which is usually 3 months interest or interest differential penalty.
This penalty is paid from the new mortgage proceeds so normally you don’t need to come up with that cash up front.
CMHC mortgage default insurance is added on top of the basic loan and so your only other cost is legal fee which is deducted from loan proceeds.
Mortgage rates are at historic lows and if you have two mortgages and other credit card debt then this may be the perfect time for you to combine them into one payment.
You maybe able to refinance your mortgage to lower your interest rate, monthly payments or get cash out for debt consolidation, renovations or investments plus pay off your mortgage faster.
With lower mortgage rates, you could be saving thousands and possibly gain cash in hand by refinancing your existing mortgage right now!
What is mortgage refinancing?
Mortgage refinancing replaces your existing mortgage loan with a new mortgage at lower interest rate.
Refinancing can save you lots of money when market interest rates drop one or more percentage points below your present rate.
Mortgage refinancing can be used to reduce your interest rate, change the term and amortization of your loan or consolidate your other debt in order to improve your monthly cash flow.
Maybe you have been dreaming about a new pool or a hot tub, finished basement or purchasing another property.
Whatever your needs... tapping into your available home equity may be the best way to achieve your goals faster.
Interest rates are very low so don't hesitate to take advantage of my services to refinance your mortgage today!
Fixed Rates VS Variable Rates
In a FIXED RATE MORTGAGE the interest rate is determined and stays the same for the term of the mortgage. The fixed rate mortgage was once the standard type of mortgage product that was available in Canada.
Typically, fixed rate mortgages for longer terms are popular when interest rates are low, but are expected to rise in the future. In this way you can “lock-in” your mortgage at existing, presumably lower than future, interest rates.
In a VARIABLE RATE MORTGAGE (VRM) the interest rate charged on the mortgage loan will fluctuate as market interest rates move.
This type of loan differs from a fixed rate mortgage in that the interest rate charged on the loan may be changed during the term of the mortgage.
Generally, these loans are initially set up like a standard loan, based on the current interest rate.
The loan is reviewed at specified intervals over the term of the mortgage loan (usually monthly). If the market interest rate has changed, so will the interest charged on the mortgage.
Changing either the size of the payments or the length of the amortization period (or a combination of both) at this time will alter the mortgage repayment plan.
CAPPED RATE VARIABLE MORTGAGES are variable rate mortgages on which the lending institution has set a limit to interest rate increases or decreases.
This means that the interest rate of the mortgage will fluctuate but the lender has set a rate and guarantees that you will not have to pay interest rate at higher than that limit.
Variable rate mortgages may offer a CONVERTIBLE RATE feature, allowing you to lock in to a longer term (not less than 3 years) fixed rate mortgage at any time without penalty.
Mortgage lenders are continuously creating new features to differentiate their mortgage products to attract your business.
Mortgages For Self-Employed Without Income Verification
There are many benefits to being self-employed and one of them is writing off as many expenses as possible to reduce your taxes.
This is a great tax reduction strategy but as you know this also makes it more difficult for you to qualify for a traditional mortgage.
If you are self-employed and are looking to refinance your mortgage then most lenders will ask you to provide the last 2 years Revenue Canada Notices of Assessment (NOA’s) to average your income from line 150.
This is fine when you don’t have many write offs but it will work against you if your net taxable income is too low and it may result in automatic decline of your application.
NOT HERE…
Did you know that my lenders offers up to 95% financing for self-employed clients who have difficulty providing third party verification of their income?
- 95% purchase
- 90% refinance
- 1- 2 units
- Owner-occupied properties
- CRA NOA IS NOT REQUIRED!!
They will consider less than 2 years business-for-self if you have been working for an extended period of time in the same field, performing essentially the same function with the same skill requirements.
- All you need to do is sign statutory declaration at the solicitor’s office confirming the following:
- Your income is declared as on application
- You’ve been self employed for a minimum of two years or in the same line of work for a minimum of two years
- You do not have Federal or Provincial income tax owing
Why Use Mortgage Brokers?
There are many benefits of applying for your mortgage with me…
The first one which comes to my mind is your instant access to virtually all mortgage lenders, their products and rates with one single application form.
You see when you apply for your mortgage at your own bank or any bank for that matter you are applying for their products only.
If your application is declined you probably try another lender BUT how do you know they’ll accept you?
What if you get denied again? Are you going to keep trying until you destroy your credit rating or are you going to finally try me?
There is nothing wrong with shopping around for your mortgage BUT doing this on your own could seriously damage your credit score!
With every application comes a hard hit to your credit file resulting in lower credit score and lower credit score could make it much harder for you to obtain your approval at the best rates.
In fact, your lower credit score may prevent you from obtaining a new mortgage altogether!
When you apply for your mortgage here, I will perform only one inquiry to your credit file and attach your credit report to your mortgage application.
I then submit your application to one lender at a time, starting with the one who has the highest probability of accepting your application quickly, at the best rates and terms for your situation.
This way, you’ll know that your application could be approved quickly and at the lowest rates possible.
There is NO need for office visits, simply apply online on my secure server and I’ll get started on it right away.
Many people make the mistake refinancing their mortgage with their own bank and end up paying more interest!
Banks charge their customers what’s called “bank posted rates” that can be as much as 1.5% higher than discounted rates offered by some of my other lenders.
I have what’s called a “Preferred Broker Status” with the most important lenders in Canada and therefore I get “Preferred Rates” for my clients.
These preferred rates are only accessible through selected "Preferred Brokers" who deliver huge volumes.
I know that if you want to get a preferred rate mortgage then you’ll need to deal with someone like me who has the preferred broker status.
To get the absolute lowest rate on the market you’ll need to have perfect credit with excellent credit score.
If your credit is damaged then I will take time to explain what you need to do to improve it so you too can qualify for a preferred rate mortgage.
My goal is to provide you with the best mortgage for your current situation.
This kind of mortgage should have:
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Preferred rate so you pay the least amount of interest! |
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Accelerated payment options so you can reduce your amortization! |
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Flexible pre-payment options so you can be mortgage free faster! |
Take a moment to review your monthly budget to discover how much you are really spending each month on all your living expenses and then compare them to your take home pay.
Do you allocate 20% of you budget to your savings account? If you are not saving 10 or 20% of your take home pay then consider these solutions…
- Sell your home to downsize – cost too much in real estate commissions and moving costs!
- Get a higher paying job or second job – not easy to do in slow economy!
- Tripple your credit card payments - not easy if you are already struggling to make ends meet!
- OR... LET ME HELP!!
And let’s not forget that when you take advantage of my professional service, there are…
- NO application fees!
- NO initial credit checks!
- NO multiple credit inquiries!
- NO office visits!
- NO time consuming appointments!
- NO surprises!
APPLY NOW FOR THE SAME DAY SERVICE
If you answered "YES" and you want to take advantage of my proven mortgage services -- HERE ARE THREE EASY WAYS FOR YOU TO GET STARTED:
- CLICK HERE TO APPLY ONLINE ON MY SECURE SERVER
Use the online secure server mortgage application form for faster service. I will receive it instantly and you could get your approval in less than a day.
- CLICK HERE TO USE MY .PDF FORM
The online application is on a securer server but if you are concerned about giving your information over the internet then you can use my multi-purpose .PDF form. Save it to your computer so you can complete it when you have more time and then simply fax it to my toll free fax number or scan & email it to me.
- SEND ME YOUR COMPLETED .PDF APPLICATION BY SNAIL MAIL
If you prefer using "SNAIL MAIL" then mail the .PDF form to my office address: VERICO Mortgage Network London Inc. Attn: Joe Malek, 321 Springbank Drive, London, Ontario, N6J 1G6
REMEMBER: It costs you NOTHING to get started and most of all there are NO obligations. If you are not satisfied with my offer then you can cancel at anytime and you'll still get to keep my credit guide -- no matter what you decide!
Sincerely,

Joe Malek, Mortgage Agent Lic. #M08004649
P.S. That's all it's to it... no running around... no time consuming appointments... no office visits... and the lowest rates around GUARANTEED! I know you have many questions for me and I will take time to answer all of them. Just complete the online form and you'll get fast answers including my answers to frequently asked questions in less than 1 hour!
P.P.S. I work for you and not the lender. My goal is to arrange the most suitable mortgage financing for your situation and of course at the best rates on the market so you have nothing to lose and much to gain by applying online for your mortgage at this website. If your credit is bruised then I'll even give you a FREE copy of my "How To Re-Establish Your Credit" E-Book! |