So, the question remains:  How to buy a second investment property?  There are a number of ways to do this and a variety of lenders who will approve mortgages on second investment properties but you must first know who they are and what their lending practices are.  Having an experienced mortgage broker to guide you through the process of securing an approval can be invaluable.  An experienced broker will not only walk you through the steps and show you how to buy a second investment property but they can also help you secure the best rates with the most flexible terms.  They can even show you how to secure a down payment by leveraging the equity in your principal residence to use as a down payment on your second investment property.

If you want to know how to buy a second investment property and make sure you do it in the most cost effective manner, call Community Mortgage Services Corp.  We can help you take advantage of the lowest interest rates in decades.  Call us for a no obligation consultation and let us walk you through the process.

We can be reached toll-free at 1-866-668-6570 or you can even Apply Online with our simple easy to use application and have a response in no time!

While there are several mortgage lenders when you have a judgment, not all of them are readily available to the public and many of them will only take applications from mortgage brokers.  Having a broker will ensure that your application is being shopped around to all of the different lenders that will act as mortgage lenders when you have a judgment to get you a commitment at the best rate.

Finding the right broker for the job is paramount to you finding a mortgage lender when you have a judgment.  There are a wide variety of judgment types (Canada Revenue, Family Responsibilities & various creditors who have sued) and knowing who will deal with what type of judgment can make a difference between you being approved or declined.

Finding mortgage lenders when you have a judgment is simple.  The first step is to pick up the phone and call and experienced mortgage broker.  We can help!  Call us toll-free for a no obligation quote 1-888-939-8484 or complete our easy to use online application and let us do the work.

Debt Consolidation is actually a very simple and effective way of reducing high interest credit card debt and reducing it to one low rate payment.  For example if you have 3 credit cards totaling $20,000.00 with an average interest rate of 19% and you lump them all into one loan with an average rate of 5% you would effectively be reducing your monthly payments by as much as $350 per month and saving a considerable sum of interest every month.

There are two ways of going about a debt consolidation.  The first option is to apply for an unsecured personal loan; essentially this just means you will not be using any collateral to secure the loan.  The second option is to apply for a secured loan, which generally involves using the equity in your home to secure a loan.  Having been on both sides of the lending fence the second option always seems to be the better route.
Using your homes equity has many advantages.  For one, you can often leverage a larger amount than if you were trying to get a personal loan because the lender has good security.  Secondly, because the lender has the security of your home, they will lend consumers money at a substantially lower rate than if it was an unsecured loan.  Lastly, you can amortize the payments over a much longer period on a secured loan which will allow you to keep your payments drastically lower.

If you are interested in finding out the benefits of how you can use the equity in your home to obtain a debt consolidation loan call us and speak to one of our agents.  Call toll-free 1-866-668-6570 for a no obligation quote and find out how you can eliminate your debt and drastically reduce your monthly obligations.

Having said this debt consolidation is an opportunity to consolidate all of your payments into one loan and eliminate all of your balances on high interest cards and reduce the amount you have utilized against your cards limits.  It will also lower your overall monthly obligations making it easier to maintain payments, which will again dramatically increase your credit score.

Debt consolidation can not only be good for your credit rating but it can be good for the soul.  Imagine how liberating it would be to consolidate $10-$20-$30,000 in high interest credit card debt.  You could save thousands of dollars a month in interest payments and help restore you credit rating!

If you are interested in learning more about secured debt consolidation, have been declined by your bank or want to find out how you can use the equity in your home to secure a debt consolidation loan give us a call for a no obligation quote.  We specialize in getting clients approved quickly and our goal is to eliminate high interest credit card debt.  Call 1-866-668-6570 and find out how you can put your equity to work for you!

2nd Home Mortgage

Second mortgages serve to offer home owners another option from refinancing their existing mortgage. They are extremely beneficial in this way in that they can allow a home owner to leverage money from their home without paying the penalties to break their first mortgage. There are two kinds of second mortgages: A fixed rate second mortgage in which the rate is predetermined and the term and amortization are fixed. Second mortgages also come in the form of a secured line of credit. Any loan, be it fixed or revolving (such as a line of credit) which is secured by your home and takes a secondary position to your original (1st mortgage) is considered to be a second mortgage.

The negativity that is often associated with second mortgages is generally unfounded. Second mortgages can offer a consumer the option to borrow money against their home without having to pay penalties to rewrite/break their first mortgage. Second mortgages also come in the form of a line of credit which can be used for specific things such as home renovations but can also be used in the event of unforeseen circumstances such as an expensive car repair bill. Second mortgages can be used to consolidate high interest credit card debt, to renovate your property and can be useful for expenses you did not anticipate.

In some instances they can even be used to avoid or circumvent mortgage insurance premiums. In Canada, generally on any purchase where you are putting less than 20% down on a home you will be forced to pay mortgage insurance, which is added to your loan. Quite often this can amount to thousands of dollars. Second mortgages can be used to avoid these premiums. For example, you have 15% to put down on the new home you wish to purchase but face a large insurance premium because you were unable to save 20%. Taking a secured line of credit out for 5% of the value of the home can be used to make up the difference and gets you to 20% allowing you to bypass the insurance premiums. They can also be helpful in this circumstance if you are not eligible to qualify for mortgage insurance because you have poor credit.

Any which way you slice it, the negative connotation that is often attached to second mortgages is often just because people don’t understand them or the potential benefits. Before you discard the idea of securing a second mortgage give us a call so we can help you determine if one is right for your set of circumstances. Call toll free: 1-866-668-6570 for a no obligation quote.

While traditional banks do not allow consumers to refinance Revenue Canada liens there are a multitude of lenders who will allow you to payout these types of liens. Not only are there a large number of lenders who allow this, but there are also a number of products that they offer. For those consumers who are facing large penalties to break their mortgage they can easily be avoided by obtaining a secured line of credit or a second mortgage which does not involve paying out your first mortgage.

The key to knowing what institutions will permit you to refinance Revenue Canada liens, what products you should be looking for and determining what the most cost effective route is, is to work with a mortgage broker that knows the answer to these questions.

If you have a Revenue Canada lien on a home, commercial property or a piece of vacant land that you want to pay call: Community Mortgage Services Corp. You can speak to one of our agents for a no obligation consultation to figure out your best course of action. Call Toll-Free 1-866-668-6570.

If you don’t keep your payments up to date a mortgage lender may look to foreclose on your home. Another scenario is that your mortgage is up for renewal and even though you are current on your mortgage, you have had a poor repayment history in the past. In this day and age, major financial institutions do not want to deal with clients that do not pay on time.

Banks don’t care about your financial circumstances or what caused you to miss payments or fall behind. The days of old where you would sit down with your bank and explain your problems don’t exist anymore and the fact of the matter is: You are just another number to your bank.

So how do you solve this problem? First you have to find out what your rights and entitlements are. Secondly, you have to make sure that you have a solution to your problem long-term so that history does not repeat itself. When people stop making the payments on the roof over their head it is generally a sign that they are over extended.

A mortgage professional can do both. We will be able to assess what your rights are and try to you find a means to lowering your monthly obligations to make your financial situation easier on you.

If you need help or just want some questions answered feel free to give us a call at 1-888-939-8484 or drop us a line info@consolidatedebtnow.ca

The Toronto real estate market remains robust and interest rates are still at record lows. There are many Toronto listings to consider, and many new subdivisions being built all across the city and the GTA. All you really need to do to buy a house in Toronto is to pick your location and see what’s out there. If you want to be in the middle of everything, you have your pick of charming heritage homes in neighbourhoods like the Annex, Cabbagetown and Forest Hill. If you prefer to reside a bit further north, you can never go wrong looking for a house in North York. Or, if you want to remain in close proximity to the city, but need a little extra room to stretch your legs, consider Thornhill, Richmond Hill and Markham as your suburban oasis. No matter which area you choose, homes for sale in Toronto are plentiful, and now is the time to get serious about owning one.

Traditionally, families prefer to move during this time because it is the end of the school year. This way, if the kids will be switching schools, at least they get to start fresh in September. And, if you hate house hunting during the winter, think about what a gamble it is to move your furniture and belongings with the threat of a snowstorm to mar your plans. Spring and summer moves are so much easier to accomplish, as is getting out and about to explore your new neighbourhood and get acquainted with your new neighbours. Tis the season to make your dream of home ownership a reality.

Get serious about your search by meeting with some qualified real estate agents. Choose one you feel comfortable with, and who understands your needs. Make sure to communicate your price range and ask a lot of questions. Purchasing a Toronto home is exciting, but there are many details that need to be addressed. Working with professionals makes the task easier, but you need to stay involved and alert during the process. Get out there now, while the marketing is as sizzling as the summer sun.

Amber Brown is a real estate journalist and blogger whose work has appeared in many major real estate magazines and on many Web sites. She is the proud owner of a Toronto Home.

Consulting a mortgage broker can be a prudent option, rather than staying with one of the top national banks. Questionable financial circumstances are no longer the obstacle they once were; bad credit mortgage loans are becoming easier to obtain. There are many more options now than there were a scant few years ago.

Present day lending statistics show that 25 percent of all mortgages are being arranged through mortgage brokers, with 40 percent of them being first mortgages. Despite these encouraging numbers, consumers are still exercising caution by not obtaining as many quotes as they should. Almost half of new applicants only obtained a single quote or none at all, while 24 percent obtained two quotes. A scant 18 percent got three. Many are also hesitant to take on a variable rate mortgage, choosing to stick with a five-year fixed rate loan. Only 29 percent of Canadian home owners have cheaper, variable rate mortgages, and only 4 percent chose to go with a combination home mortgage loan.

We understand that these decisions can be daunting, but working with a mortgage broker can definitely help save any homeowner money on their home mortgage. We walk you through and thoroughly explain all the options, so you understand what you are getting, and keeping more of your hard-earned money in your pocket.

Whether you have bad credit, no credit or are new to Canada, our mortgage brokers can help you obtain debt consolidation loans, a bad credit mortgage, or your first home mortgage. Getting the details has never been easier. Our qualified mortgage brokers are standing by to help. Call 1-866 668-6570 now, for more information.

Mortgage Loans for new immigrants to Canada

Fortunately, the challenge of home ownership need not be as daunting as it once was. The Canada Mortgage and Housing Corporation (CMHC), along with Community Mortgage Services, work with many immigrants to facilitate new immigrant mortgages all across Canada.

Immigrants are considered to be vital to Canada’s population growth, and are intelligent, hardworking contributors to Canadian society. Newcomers deserve the same financial opportunities as other residents of Canada. There are options available for permanent and non-permanent residents, backed by CMHC.

Unfortunately, banks might have a different perspective on newcomers, and acquiring financing could be quite challenging. Fortunately, there are independent mortgage brokers who can help new immigrants to Canada realize the dream of home ownership, without the stress and uncertainty of dealing with the major banks. Community Mortgage Services has existing relationships with dozens of lenders across Canada that are willing to work with newcomers within the CMHC’s guidelines, giving immigrants the opportunity to become homeowners sooner than they thought possible. Coming to a new country is stressful enough; home ownership can be realized without the hassles normally associated with obtaining financing.

CMHC new immigrant mortgage policies state that newcomers with permanent resident status have access to all mortgage loan insurance products. Non-residents can insure up to 90% of their financing for the purchase of a single, owner-occupied residence. There are no additional fees, and no required minimum period of residency. Even if current credit history is not available, CMHC will consider alternative credit information when granting coverage.

Community Mortgage Services takes the guesswork out of house loans for new immigrants to Canada. Their qualified mortgage experts stand with you throughout the process, ensuring your relocation is as stress-free as possible. They help new immigrants get the best possible rates while deciphering all the paperwork and information necessary to obtain a new immigrant mortgage. Their lending partners are thoroughly informed on the latest CMHC policies and will ensure that no matter what your status, you will have every opportunity to obtain financing to provide your family with a suitable home in Canada. Their lenders will formulate a strategy that suits your unique situation, and gives you peace of mind that your application will be given the consideration necessary to make the dream of home ownership a reality.

If you’d like more information about applying for a new immigrant mortgage, please call 1-866-668-6570 from anywhere in Canada.