1ST MORTGAGE IN OMEGA, SK

• AMOUNT OF LOAN – $375,000
• TYPE OF PROPERTY – FARM ACREAGE ON 160 ACRES
• EQUITY REMAINING AFTER MORTGAGE(S) – 40% (60% LTV)
• OBJECTIVE – REFINANCE TO STOP FORECLOSURE
• OBSTACLE –  CREDIT, INCOME, & TIME CRUNCH
• EXIT STRATEGY – REFINANCE IN 2-3 YEARS WITH NON-PRIVATE LENDER

1ST MORTGAGE IN EDMONTON, AB

• AMOUNT OF LOAN – $375,000
• TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
• EQUITY REMAINING AFTER MORTGAGE(S) – 25% (75% LTV)
• OBJECTIVE – PAYOUT  EXISTING PRIVATE MORTGAGE FOR LOWER RATES
• OBSTACLE –  CREDIT, INCOME, & TIME CRUNCH
• EXIT STRATEGY – REFINANCE IN 2-3 YEARS WITH A NON-PRIVATE LENDER

2ND MORTGAGE IN SASKATOON, SK

• AMOUNT OF LOAN – $83,000
• TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED RENTAL
• EQUITY REMAINING AFTER MORTGAGE(S) – 20% (80% LTV)
• OBJECTIVE – PAYOUT  EXISTING PRIVATE MORTGAGE FOR LOWER RATES
• OBSTACLE –  CREDIT & NON-TRADITIONAL INCOME VERIFICATION
• EXIT STRATEGY – SELLING THE PROPERTY WITHIN 12 MONTHS

2ND MORTGAGE COMBO IN ST. ALBERT, AB

• AMOUNT OF LOAN – $18,000
• TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED 
• EQUITY REMAINING AFTER MORTGAGE(S) – 21% (79% LTV)
• OBJECTIVE – DEBT CONSOLIDATION
• OBSTACLE –  CREDIT
• EXIT STRATEGY – REFINANCE IN 2 YEARS WITH A NON-PRIVATE LENDER

2ND MORTGAGE IN WABAMUN, AB

• AMOUNT OF LOAN – $25,000
• TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED RENTAL
• EQUITY REMAINING AFTER MORTGAGE(S) – 18% (82% LTV)
• OBJECTIVE – PROPERTY TAX ARREARS & SCHOOLING
• OBSTACLE –  CREDIT & NON-TRADITIONAL INCOME VERIFICATION
• EXIT STRATEGY – REFINANCE IN 2-3 YEARS WITH A NON-PRIVATE LENDER

1ST & 2ND MORTGAGE COMBO IN SASKATOON, SK

• AMOUNT OF LOAN – $300,000 & $60,000
• TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED 
• EQUITY REMAINING AFTER MORTGAGE(S) – 20% (80% LTV)
• OBJECTIVE – PAYOUT  EXISTING PRIVATE MORTGAGE FOR LOWER RATES
• OBSTACLE –  CREDIT, INCOME & PAYING OFF CONSUMER PROPOSAL
• EXIT STRATEGY – REFINANCE IN 1-2 YEARS WITH A NON-PRIVATE LENDER

1ST MORTGAGE IN BETHANY, ON

• AMOUNT OF LOAN – $125,000
• TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
• EQUITY REMAINING AFTER MORTGAGE(S) – 49% (51% LTV)
• OBJECTIVE – REFINANCE PROPERTY INTO THE NAME OF THE ESTATE OF DECEASED
• OBSTACLE –  BENEFICIARY DOES NOT QUALIFY WITH THEIR BANK. PROPERTY IN BELOW AVERAGE CONDITION; HOWEVER LAND VALUE WAS VERY GOOD. DECISION WAS BASED PRIMARILY ON LAND VALUE.
• EXIT STRATEGY – IMPROVE CREDIT SO THAT BENEFICIARY CAN REFINANCE WITH A NON-PRIVATE LENDER

2ND MORTGAGE IN CALGARY, AB

• AMOUNT OF LOAN – $220,000
• TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
• EQUITY REMAINING AFTER MORTGAGE(S) – 34% (66% LTV)
• OBJECTIVE – PAYOUT CRA BUSINESS AND PERSONAL TAX DEBT, AND SOME FUNDS TO BE USED TO GET HOME READY FOR SALE
• OBSTACLE –  FAIR CREDIT, BUT DID NOT QUALIFY WITH THE BANK DUE TO CRA TAX ARREARS.
• ADDITIONAL PERKS – NO PAYMENTS FOR 6 MONTHS
• EXIT STRATEGY – SELL THE PROPERTY

2ND MORTGAGE IN EDMONTON, AB

• AMOUNT OF LOAN – $118,000
• TYPE OF PROPERTY – RESIDENTIAL SINGLE FAMILY DETACHED
• EQUITY REMAINING AFTER MORTGAGE(S) – 17% (83% LTV)
• OBJECTIVE – PAYOUT BANKRUPTCY BALANCE AND CONSUMER DEBT ACCUMULATED DURING THE PANDEMIC
• OBSTACLE –  UNPAID BANKRUPTCY AND SOME COLLECTIONS.
• EXIT STRATEGY – SELL THE PROPERTY IN 1-2 YEARS. DOWNSIZING NOW THAT ADULT CHILDREN ARE OUT OF THE HOME.

BLANKET 2ND MORTGAGE IN VANCOUVER, BC

• AMOUNT OF LOAN – $150,000
• TYPE OF PROPERTY – RESIDENTIAL APARTMENT CONDO
• EQUITY REMAINING AFTER MORTGAGE(S) – 25% (75% LTV)
• OBJECTIVE – EQUITY TAKE FOR INVESTMENT IN OTHER REAL ESTATE
• OBSTACLE –  COULD NOT QUALIFY WITH THEIR BANK
• ADDITIONAL SECURITY REQUIRED – YES. PRIMARY RESIDENCE IN ALBERTA, AND A RESIDENTIAL LOT
• EXIT STRATEGY – REFINANCE WITH A NON-PRIVATE LENDER IN 6 MONTHS UPON ACQUISITION

BLANKET 1ST MORTGAGE IN SCARBOROUGH, ON

• AMOUNT OF LOAN – $175,000
• TYPE OF PROPERTY – COMMERCIAL INDUSTRIAL CONDO
• EQUITY REMAINING AFTER MORTGAGES – 25% (75% LTV)
• OBJECTIVE – REFINANCE & PAYOUT EXISTING PRIVATE MORTGAGE THAT WAS NOT RENEWING
• OBSTACLE – BUSINESS OPERATIONS ARE NEW. REQUIRE MORE STABILITY.
• ADDITIONAL SECURITY – YES. RENTAL DUPLEX IN WINDSOR, ON
• EXIT STRATEGY – ESTABLISH BUSINESS INCOME TO MEET BANK REQUIREMENTS