exit strategy

Mortgage Broker Mistakes That Lead To Litigation

Posted on by Andy MacDonald
Inadequate or Non-existent Suitability Assessments  The key question every litigator will ask as is, “was this mortgage appropriate for this borrower at the time it was arranged”? A good Mortgage Broker would have clearly answered this question in the affirmative and documented it in the mortgage file. In my experience, most Mortgage Brokers and Mortgage Agents fail to document their assessments and some fail to even consider if the mortgage they arranged was suitable for the bo...
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Why is an exit strategy important?

Posted on by Andy MacDonald
Exit Strategy
An exit strategy is crucial when considering a private mortgage in Ontario for several reasons: Financial Security An exit strategy helps you understand how you will repay the mortgage, whether through refinancing, selling the property, or another means. This foresight can prevent financial distress.  Market Conditions Real estate markets can fluctuate. Having a clear plan allows you to adapt to changes, such as rising interest rates or declining property values. Avoiding D...
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Is a private mortgage suitable?

Posted on by Andy MacDonald
mortgage
Whether a private mortgage is a suitable solution to your needs depends on your specific circumstances. Here are some factors to consider: Credit Situation If you have poor credit or a limited credit history, private mortgages can be more accessible than traditional bank loans, as private lenders may be more flexible. Urgency If you need financing quickly, private lenders often have faster approval processes compared to banks or credit unions. Property Type If you're purchasin...
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