Given the recent, softer real estate market, many people find themselves seemingly “stuck” with two properties.
They purchased a property, expecting to later sell their current property and use the proceeds from the sale as a down payment on the purchase.
Unfortunately, because of softer market conditions, they are now having difficulty coming up with enough money for the down payment. Others just don’t want to realize a large loss in selling their property, and want to postpone making the sale until a later date.
It’s times like these when you need a good mortgage broker to help structure your financing, as b anks are very strict when it comes to determining the maximum amount of debt they will allow you to carry. This is especially true if it means carrying two properties, even for a short period of time.
If you know someone in this situation, please forward my contact information to them. I have 13 years experience in alternative lending, and I always put my customers first!
Whatever your circumstances, I will help you find the best available financing solution.
I look forward to hearing from you.
David Grossman MBA
Loan Central Canada/Real Mortgage Associates Lic # 10464
Tel. 416 876 2031