Free Advice: 416-499-2122
Or email: ron@mortgagebrokerstore.com
 
marketing image

Private Loans Lenders

Private loans are available for people who are having a difficult time renewing their home mortgage. Our brokers specialize in providing private loans for bad credit. We understand that just because your crediting rating is bad does not mean that you can’t make the monthly payments. One way to reduce your monthly mortgage payments is to enter a debt consolidation program. Our consultants can fully explain how a debt consolidation program can help you.

Private lender loans include a debt consolidation program which can help you understand exactly how you got into your present situation. The program will explain how to offer your present creditors a lower principal amount on your debt in exchange for immediate payment of the debt. Many of the credit card companies are willing to do this just to clear the debt off their books and eliminate any further collection costs.

You need a personal debt consolidation program to teach you how to budget and control spending. In most cases this makes perfect sense, you can learn how to lower your interest rates. The lower interest rate saves you money and improves your cash flow. The savings can be used to reduce the principal amount owing or to enhance your lifestyle. You should also get your free Equifax credit report.

Below are some recent situations that we have helped our clients with:

– The company that you worked for recently closed resulting in the loss of your job. Private loans lenders for bad credit would consider this loan since you may actually have good credit.

– Your home has been put up for a “power of sale” by your mortgage lender. There is a significant level of equity in your home you may still be able to get private loan. The broker can talk to all the various parties involved including lawyers to determine if the “power of sale” can be stopped. In many cases private lenders loans for bad credit can give you the money to stop a “power of sale” by bringing the present mortgage up to date and in good standing.

– You have been self employed for the past ten years, you have always a good income. The income was undeclared not on your “Notice of Assessment”. You now owe some debts and are finding it difficult to get money to pay these debts. Private loans can recognize your self-employed income and get the money you need.

Private Lender Loans for Bad Credit

If you have recently been turned down for a mortgage renewal ask the bank why you were turned down. At this point you should start to consider a private loan for the funds you need. A bad credit rating will probably result in a higher interest cost.

Most banks would like the home owner to have a maximum loan to value ratio of around 75% and verifiable income. If you are self-employer or on a pension you may not qualify for a loan.

If you think that you need private loans lenders then you should give us a call. Private lenders loans could be the easiest way to resolve your current financial needs.

Loans Mortgages Private Money  Canada  Follow this link for the Bank of Canada.

Apply Now

Your Name (required)

Your Email (required)

Phone Number (required)

Enter Code: captcha