Recent Posts in ‘Private Mortgages’

The Mortgage Radar: The Tax On Stupidity, A New Credit Crisis

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 649 […]

What Is A VTB or Vendor Take Back Mortgage?

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 the […]

Files Of The Broker: Property Tax Arrears & Judicial Sale

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 we […]

Files Of The Broker: What Is A Judicial Sale?

In my last post I wrote about an astute investor who exploited the opportunity of a Judicial Sale when he bought a unique, mixed-use property, for a bargain price of under $100,000. Such opportunities come up frequently but are missed by most people because they don’t know where to look specifically. In addition, the term […]

Files Of The Broker: Oddball Property Private Mortgage Financing

What do you get when you try to buy a property that was once a jail, fire hall, dance hall & town hall? A financing conundrum. This is exactly what one of our clients purchased, where we provided private mortgage financing.  The purchase is even more remarkable when you consider that the jail, fire-hall, town-hall […]

What is a Private Mortgage? Ask a S.O.B

This week’s question is in regards to the various post we have online regarding Private Mortgages in Toronto. What is a private mortgage? Private mortgages are a special and very interesting type of mortgage option that most people are not too familiar with. The most basic definition of a private mortgage is a mortgage contract […]

Private Mortgage Money Toronto

Meet the father of the S.O.B as he invites those seeking specialized private and second mortgages in Toronto to call him.