For the last 12 years, he has owned his own trucking business but, because of his unfortunate life event, fell into financial instability and owed Canada Revenue Agency (CRA) more than $30,000 in taxes.
He has almost 50% equity in his home, but his poor credit, consumer debt and, most importantly, debt towards CRA, didn’t make him a good candidate for a loan, so the bank refused his request for a refinance. Fortunately, GLM Mortgage Group was able to find the solution he needed.
For more information on a Privately Funded Mortgage call us now at 604.259.1486.
Purchase Price Of Home
Used a Private Lender who would tolerate a low credit rating and high-service debt. We negotiated a one-year term with a high-interest rate and lender fee in order to pay off all debt including money owed to CRA, consumer debt and unpaid collections. This provided time to improve his credit score in order to move to an alternate or conventional lender with a better interest rate and better terms.
Requested Mortgage Amount
Most recent Notice of Assessment
Confirmation of property details including mortgage statements
Total Debt Services Ratios