One year ago I knocked on more than five banks’ door trying to get a mortgage. All of them refused saying I had a bad record. Until then, I did not how much those words weighted. It made me feel as if I was a sort of criminal and have done some terrible things. All I remembered was missing couple of mortgage payments. It did not matter to them that I had a good steady income. All they saw was a red flag, a bad credit score.
When I finally sold the house, I paid off the rest of the mortgage and I thought it was done. Little I knew that it will haunt me down years later. Or that I will be running around from one bank to another, trying to get a loan approved. Anyway, what is done is done. I learnt the hard way not to leave the house’s payments on my wife’s to do list.
A few months back, a friend had mentioned to me something about a private mortgage montreal based broker. Apparently a private loan is not too different than a bank loan. With the exception that it comes from a private institution and not from one of the Canadian chartered banks.
Until Matt told me about them, I had never heard about a private mortgage loan company. These guys are reasonable. They can help people who are looking finance a renovation, consolidate their debt, and get a mortgage as well, not only short-term loans.
More I dug into it; more attracted I was by the idea of trying to get a loan with them. I read on a website that someone had got a loan with a lower interest rate than what the banks were offering.
When I discussed about it with my spouse, she was very reluctant. Once we got refused by so many banks, it was hard for her to believe that we still had a chance. She questioned me hundred times if I was getting money from a shark or if I was planning to do anything I shouldn’t.
At one point she actually asked me if I was involved in some illegal stuff, because she could not figure it out how we were refused and then accepted for the loan.
In order to convince her there was no scam involved, I opened the laptop, type the company’s name and show her their website. She read testimonials, opened all the pages and read everything. She expressed her wish of being present at the interview, which was fine with me.