As property owners we all want to get the lowest interest rate for our mortgages and one of the best ways to get a lower interest rate is to use an Alberta mortgage broker that has access to many different lenders. Our Alberta mortgage brokers cover all cities and towns in Alberta including Edmonton and Red Deer. As mortgage brokers we have access to many different lenders including private lenders. We will compare the various interest rates and terms to find a mortgage that best suits your needs.

For a first mortgage or a refinancing our lenders can provide very competitive rates for your mortgage. For second mortgages in Edmonton we have institutional and private lenders that may provide the funding that you need.

Uses for second mortgages Edmonton and Red Deer:

–          Pay off credit card debt

–          Home renovations

–          Educational costs

–          Short term loans

Our mortgage agents specialize in hard to place mortgages. If you have bad credit or have a very high loan to value ratio loan, we may be able to help you. We have private lenders who base their loans on the amount of equity in your home and not on your credit score.

Foreclosures in Alberta

As mortgage brokers we can help stop foreclosures which is the most common process used by lenders in Alberta to recover their investment in a property.  As a home owner facing a foreclosure you have a number of options. Pay off any outstanding mortgages or liens, refinance the entire debt or sell the home. Bringing the debt back into good standing with your lenders is usually the cheapest way to stop a foreclosure.

You will need to provide information such as any letters from the lenders lawyer, which is usually a statement of claim. An appraisal will be required to verify the value of the home and your credit score will be checked.

In most cases a lawyer is needed to stop the legal process and a mortgage broker to arrange financing of your home.  Disclose as much information regarding your mortgage to the mortgage broker as possible. Forgetting a small loan or lien will slow down the process. This may cause others to feel that you are not providing full disclosure. Once a foreclosure is started on your home your  Alberta mortgage broker will need to act quickly. This can help reduce any fees that the lender may charge to your home.

Follow this link for the City of Edmonton.

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