1ST MORTGAGE IN NORTON, SK (1HR SOUTH OR REGINA)
- AMOUNT OF LOAN – $395,000
- PROPERTY VALUE – $565,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED ACREAGE WITH 160 ACRES OF FARM LAND
- OBJECTIVE – REFINANCE AND PAYOUT EXISTING MORTGAGE
- OBSTACLE – NEW EMPLOYMENT FOR 1 APPLICANT & CREDIT REPAIR
- EXIT STRATEGY – LOOKING TO REFINANCE IN 1-2 YEARS
- AMOUNT OF LOAN – $3,800,000
- EXISTING MORTGAGE BALANCES – $4,700,000
- COMBINED PROPERTY VALUE – $17,450,000
- TYPE OF PROPERTIES – INDUSTRIAL COMMERCIAL, VACATION RENTALS CONDOS & SINGLE FAMILY DETACHED HOME
- OBJECTIVE – PAYOUT EXISTING PRIVATE MORTGAGES, CRA ARREARS, STRATA ARREARS, AND BUSINESS OPERASTION
- OBSTACLE – TAX ARREARS
- EXIT STRATEGY – LOOKING TO REFINANCE IN 1-2 YEARS
1ST MORTGAGE IN PEMBERTON, BC
- AMOUNT OF LOAN – $225,000
- PROPERTY VALUE – $450,000
- TYPE OF PROPERTY – VACANT LAND
- OBJECTIVE – PURCHASE
- OBSTACLE – BANK WOULD NOT PROVIDE FINANCING ON VACANT LAND
- EXIT STRATEGY – LOOKING TO REFINANCE IN 1-2 YEARS ONCE PROPERTY IMPROVEMENTS ARE COMPLETE.
1ST MORTGAGE IN JOHNSON CREEK, BC
- AMOUNT OF LOAN – $340,000
- PROPERTY VALUE – $680,000
- TYPE OF PROPERTY – VACANT LAND
- OBJECTIVE – EQUITY TAKE OUT FOR INVESTMENTS
- OBSTACLE – BANK WOULD NOT PROVIDE FINANCING ON VACANT LAND TO CORPORATE BORROWER
- EXIT STRATEGY – PAY OFF WITH COMPANY DIVIDENDS
2ND MORTGAGE IS SASKATOON, SK
- AMOUNT OF LOAN – $80,000
- 1ST MORTGAGE – $300,000
- PROPERTY VALUE – $457,000
- TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
- OBJECTIVE – PAYOUT EXISTING 2ND MORTGAGE & PROPERTY TAXES
- OBSTACLE – BORROWER CURRENTLY IN CONSUMER PROPOSAL
- EXIT STRATEGY – LOOKING TO REFINANCE IN 2 – 3 YEARS
2ND MORTGAGE IN EDMONTON, AB
- AMOUNT OF LOAN – $126,000
- 1ST MORTGAGE – $243,000
- PROPERTY VALUE – $440,000
- TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
- OBJECTIVE – PAYOUT EXISTING 2ND MORTGAGE & PROPERTY TAXES
- OBSTACLE – DOES NOT QUALIFY FOR BANK FINANCING
- EXIT STRATEGY – SELL PROPERTY WITHIN 12 MONTHS
2ND MORTGAGE IN CAMPBELL RIVER, BC
- AMOUNT OF LOAN – $230,000
- 1ST MORTGAGE – $420,000
- PROPERTY VALUE – $1.065M
- TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED 2-STOREY
- OBJECTIVE – PAYOUT EXISTING PRIVATE MORGAGE AND DEBT CONSOLIDATION
- OBSTACLE – TAX ARREARS AND DEBTS MAXED OUT DUE TO COVID SHUTDOWNS
- EXIT STRATEGY – LOOKING TO REFINANCE IN 1-2 YEARS
- AMOUNT OF LOAN – $35,000
- 1ST MORTGAGE – $202,000
- PROPERTY VALUE – $300,000
- TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED MANUFACTURED HOME
- OBJECTIVE – PAYOUT EXISTING 2ND MORTGAGE & CRA TAX ARREARS
- OBSTACLE – IN CONSUMER PROPOSAL & TAX ARREARS
- EXIT STRATEGY – LOOKING TO REFINANCE IN 2-3 YEARS
2ND MORTGAGE IN DENMAN ISLAND, BC
- AMOUNT OF LOAN – $700,000
- 1ST MORTGAGE – $560,000
- PROPERTY VALUE – $2,500,000
- TYPE OF PROPERTY – OCEANFRONT DETACHED 2 STOREY WITH 3 ADDITIONAL LIVING SUITES
- OBJECTIVE – PAYOUT EXISTNG 2ND MORTGAGE
OBSTACLE – INCOME - EXIT STRATEGY – LOOKING TO REFINANCE IN 1-2 YEARS
- AMOUNT OF LOAN – $160,000
- 1ST MORTGAGE – $398,000
- PROPERTY VALUE – $660,000
- TYPE OF PROPERTY – RAISED BUNGALOW DUPLEX
- OBJECTIVE – PAYDOWN MORTGAGE ON ANOTHER PROPERTY, PAYDOWN DEBT
- OBSTACLE – CREDIT
- EXIT STRATEGY – LOOKING TO REFINANCE IN 1-2 YEARS
1ST MORTGAGE IN REGINA, SK
- AMOUNT OF LOAN – $337,500
- PROPERTY VALUE – $451,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED 2-STOREY
- OBJECTIVE – REFINANCE
- OBSTACLE – BANK WAS FORECLOSING. FELL BEHIND ON PAYMENTS DUE TO MEDICAL ISSUES.
- EXIT STRATEGY – LOOKING TO REFINANCE IN 1-2 YEARS
1ST MORTGAGE IN QUESNEL, BC
- AMOUNT OF LOAN – $350,000
- PROPERTY VALUE – $500,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED RESIDENTIAL ACREAGE
- OBJECTIVE – REFINANCE & CONSOLIDATE DEBTS
- OBSTACLE – NEW EMPLOYMENT
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN VANDERHOOF, BC
- AMOUNT OF LOAN – $285,000
- PROPERTY VALUE – $355,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED RESIDENTIAL
- OBJECTIVE – REFINANCE
- OBSTACLE – BANK WOULD NOT RENEW
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN EDMONTON, AB
- AMOUNT OF LOAN – $533,975
- PROPERTY VALUE – $880,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED RESIDENTIAL
- OBJECTIVE – PURCHASE
- OBSTACLE – STATED UNDECLARED INCOME
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
2ND MORTGAGE IN EDMONTON, AB
- AMOUNT OF LOAN – $125,000
- 1ST MORTGAGE – $533,975
- PROPERTY VALUE – $880,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED RESIDENTIAL
- OBJECTIVE – PURCHASE
- OBSTACLE – STATED UNDECLARED INCOME
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN SWIFT CURRENT, SK
- AMOUNT OF LOAN – $109,000
- PROPERTY VALUE – $165,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED RESIDENTIAL
- OBJECTIVE – REFINANCE & REMOVE FORMER SPOUSE
- OBSTACLE – CREDIT
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN ST. LOUIS, SK
- AMOUNT OF LOAN – $55,000
- PROPERTY VALUE – $130,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED RESIDENTIAL
- OBJECTIVE – REFINANCE
- OBSTACLE – CRA TAX ARREARS
- EXIT STRATEGY – LOOKING TO SELL IN 1-2 YEARS
2ND MORTGAGE IN WOODLANDS COUNTY, AB
- AMOUNT OF LOAN – $46,000
- PROPERTY VALUE – $173,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED RESIDENTIAL
- OBJECTIVE – REFINANCE
- OBSTACLE – CURRENTLY IN AN ORDERLY PAYMENT OF DEBT PROGRAM
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
2ND MORTGAGE IN OTTAWA, ON
- AMOUNT OF LOAN – $120,000
- PROPERTY VALUE – $850,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED RESIDENTIAL
- OBJECTIVE – EQUITY TAKE OUT
- OBSTACLE – DEBT SERVICE RATIO DOESN’T MEET BANK REQUIREMENTS
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN KELOWNA, BC
- AMOUNT OF LOAN – $1,850,000
- PROPERTY VALUE – $3,200,000
- TYPE OF PROPERTY – SINGLE FAMILY LUXURY WATERFRONT RESIDENTIAL
- OBJECTIVE – REFINANCE
- OBSTACLE – INCOME VERIFICATION
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN RED DEER, AB
- AMOUNT OF LOAN – $120,000
- PROPERTY VALUE – $185,000
- TYPE OF PROPERTY – LOW RISE APARTMENT CONDO SUITE
- OBJECTIVE – PURCHASE
- OBSTACLE – INCOME VERIFICATION
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN ST. PAUL, AB
- AMOUNT OF LOAN – $95,000
- PROPERTY VALUE – $137,000
- TYPE OF PROPERTY – SINGLE FAMILY DETACHED
- OBJECTIVE – PURCHASE
- OBSTACLE – INCOME VERIFICATION
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
2ND MORTGAGE IN VANCOUVER, BC
- AMOUNT OF LOAN – $650,000
- PROPERTY VALUE – $5,000,00
- 1ST MORTGAGE – $2,450,000 (COMBINED)
- TYPE OF PROPERTY – SINGLE FAMILY LUXURY RESIDENTIAL
- OBJECTIVE – PAYOUT 2ND MORTGAGE, TAX ARREARS, & INVESTMENT CAPITAL
- OBSTACLE – INCOME VERIFICATION
- EXIT STRATEGY – PAYOUT IN 6-12 MONTHS
1ST MORTGAGE IN SUDBURY, ON
- AMOUNT OF LOAN – $115,000
- PROPERTY VALUE – $215,000
- TYPE OF PROPERTY – RESIDENCE – SINGLE DETACHED
- OBJECTIVE – PAYOUT 1ST MORTGAGE, PROPERTY TAX ARREARS, CRA ARREARS
- OBSTACLE – CREDIT & INCOME
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN LOREBURN, SK
- AMOUNT OF LOAN – $235,000
- PROPERTY VALUE – $420,000
- TYPE OF PROPERTY – RESIDENCE – SINGLE DETACHED ACREAGE
- OBJECTIVE – PAYOUT TAX ARREARS & FUNDS FOR BUSINESS VENTURE
- OBSTACLE – CREDIT & INCOME
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN LAC STE ANNE, AB
- AMOUNT OF LOAN – $125,000
- PROPERTY VALUE – $240,000
- TYPE OF PROPERTY – RESIDENCE – NEWLY BUILT SINGLE DETACHED HOME
- OBJECTIVE – PAYOUT EXISTING PRIVATE MORTGAGE.
- OBSTACLE – UNEMPLOYED
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
BLANKET 2ND MORTGAGE ON 2 PROPERTIES IN OTTAWA, ON
- AMOUNT OF LOAN – $355,000
- PROPERTY VALUE – $1,475,000
- 1ST MORTGAGE – $840,000 (COMBINED)
- TYPE OF PROPERTY – RESIDENCE & RENTAL – DUPLEXES
- OBJECTIVE – COMPLETE RENOVATIONS
- OBSTACLE – CREDIT & DEBT SERVICING RATIOS
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
2ND MORTGAGE IN CALGARY SURROUNDING AREA, AB
- AMOUNT OF LOAN – $380,000
- PROPERTY VALUE – $1,385,000
- 1St MORTGAGE – $670,000
- TYPE OF PROPERTY – RESIDENCE – SINGLE DETACHED LUXURY HOME
- OBJECTIVE – RENOVATING PROPERTY TO GET READY FOR SALE
- OBSTACLE – CREDIT & INCOME
- EXIT STRATEGY – SELL
1ST MORTGAGE IN TOMAHAWK, AB
- AMOUNT OF LOAN – $75,000
- PROPERTY VALUE – $430,000
- TYPE OF PROPERTY – RESIDENCE – SINGLE DETACHED HOME ON 80 ACRES
- OBJECTIVE – DEBT CONSOLIDATION
- OBSTACLE – CREDIT & INCOME
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
2ND MORTGAGE IN CALGARY, AB
- AMOUNT OF LOAN – $95,000
- 1ST MORTGAGE – $99,000
- PROPERTY VALUE – $422,000
- TYPE OF PROPERTY – RESIDENCE – SINGLE DETACHED HOME
- OBJECTIVE – PAYOUT EXISTING PRIVATE MORTGAGE FOR BETTER TERMS
- OBSTACLE – INCOME
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER
1ST MORTGAGE IN LAMONT COUNTY AB
- AMOUNT OF LOAN – $118,250
- PROPERTY VALUE – $210,000
- TYPE OF PROPERTY – 80 ACRES OF CROP LAND
- OBJECTIVE – PURCHASE
- OBSTACLE – INCOME
- EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH NON-PRIVATE LENDER