- Marketable home in small town Nova Scotia
- Commercial property
- Installed our second mortgage behind one of the big five banks
- Proceeds paid down credit card debt
- Credit score will rebound over 6 to 12 months
- Majority of second mortgage will be repaid through refinance by First Mortgage Lender when credit is suitable.
- If lender will not permit the reduced second mortgage to hang around on a refi, the commercial property provides suitable LTV to support the remainder as it gets repaid on a short amortization.
We ask allot of questions and find the best way to setup each deal to reduce the chance of additional fees down the road.