Recent Posts in ‘Private Mortgages’
Files Of The Broker: Tax Arrears, Wolves & The Oak Ridges Morraine
Tweet The failure to pay property taxes and resulting consequences are not always well appreciated. Earlier I reported how we saved a homeowner from falling into the hands of the municipality through the Sheriff. The legal action, initiated by a municipality, was over failure to pay property taxes. The owner of this very attractive rural
Tax Sales & Judicial Sales, Golden Opportunities
Tweet In previous blog entries I expanded on the term Judicial Sale with examples from our files and my own experiences. The term Judicial Sale is a court order by a Writ of Execution and presided over by a Sheriff, to satisfy an unpaid debt in an auction environment, known as a Sheriff Sale. It
3 Ways To Invest In Private Mortgages
Tweet I sat down with my Dad to talk about how an investor can invest in private mortgages. As president of a Mortgage Investment Corporation (MIC) and over 35 years of experience he has a lot of insight into the world of mortgage investments. Essentially there are 3 ways that an investor interested in mortgages
Investing In Private Mortgages
Tweet Investing in mortgages is a great opportunity that is overlooked by many investors. There are many methods and ways to invest in mortgages. The following is the skinny on investing in mortgages: Why Should Someone Consider Investing In A Private Mortgage? A mortgage is a unique investment that provides the investor with a predetermined
How To Improve Your Credit Score? 9 Steps
Tweet Your credit score is such an important part of your mortgage application. In this video I share 9 steps to improve your score. If you have stressed credit and need help rehabilitating your score contact us 416.461.0204. We are specialized in second and private mortgages. Tweet
What Is A Second Mortgage?
Tweet A second mortgage is a loan secured against real estate, that is subordinate or subsequent to a first mortgage on the same property. If you own a home there can be multiple mortgages secured against it. The order of the mortgages is determined by who registers the mortgage first with the land registry office.
The Mortgage Radar: The Tax On Stupidity, A New Credit Crisis
Tweet In 1996 British political scientist David Runciman wrote an essay entitled The Plot To Make Us Stupid; David Runciman on the National Lottery. As part of his thesis Runciman argues that the lottery which was first described as a tax on stupidity given that the odds of winning are 14 million to one (Lotto
What Is A VTB or Vendor Take Back Mortgage?
Tweet This generation of first time borrowers are spoiled rotten. Imagine their shock 5 years from now when their ultra low 3.59% fixed rate mortgage is renewed into a more realistic 6% mortgage? When I speak to older borrowers who have been around the block a few times I am constantly reminded by them of
Files Of The Broker: Property Tax Arrears & Judicial Sale
Tweet The consequences of not paying property taxes are not well appreciated. In my last blog entry I explained the term Judicial Sale and highlighted that this legal process is a great opportunity to acquire undervauled properties in cottage country. More often than not the cause is the non-payment of property taxes. The other day
