Calgary Mortgage Broker pt2

Posted by Richard Moxley on February 1, 2008 · Leave a Comment

Calgary Mortgage Brokers

The previous article covered items to be cautious with when working with Mortgage Professionals. Here are some helpful tips to look for in a local

Calgary Mortgage Broker.

1. Work with those that will let your business go. I tell my clients in the first conversation that if they are not happy with me or what terms they are getting for their mortgage. If they want to look else where, then I will co-operate fully. This includes sending over any documentation or credit reports with a full list of any lender and insurer that I have taken their business. The only thing I ask is that they tell me upfront that they are using a different broker and not do it behind my back.

2. Look for someone that will answer the questions you have and will make sure you understand what you are getting into. 3. A Mortgage Broker that will give you advice and education on the bank or lending institutions that you are receiving the financing from is important. This is crucial because there are banks that hold the right in the commitment to not allow you to refinance with another bank or sell before the term is up. Some professionals want to sell you on the interest rate and will leave out more important things that could cost you more money than a higher interest rate.

4. Although familiarity is great to have, a friend or relative does not make them a good Mortgage Broker. I know it may be hard to understand, but if they were good at what they do, they are not going to be offended because you chose had to use someone else. Like I said before, there are many great

Calgary Mortgage Brokers, but it is all about you and what your needs are.

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Alberta takes 1st place in Mortgage Foreclosures

Everyone likes to come in First place but not when we are talking about Mortgage Foreclosures. This is making “Big News” and the hype is up on how we are leading Canada and that we are double what we were the last few years and I’ve heard other reports as high as 3,500 in foreclosure proceedings here in Alberta. By providing the highest quality of home mortgage Alberta, best mortgage rate Alberta, low mortgage rates Alberta mortgagebrokerrate.com can help you even when you cannot help yourself.

Most people give up when they get behind on payments, taxes, condo fees, or special assessment fees. Once they go into foreclosure and people get the notice most of them do everything they can to sell, refinance, or straighten things out. I know a condo complex that had almost 30 people go into foreclosure proceedings at the beginning of the year. Once they got the letter about being foreclosed on they cleared up and now months later there are only 2 people left. The 2^nd point is that foreclosure proceedings don’t necessarily mean they are going to be foreclosed on.

Please before everyone freaks out this is Canada not the U.S, we are very conservative. Even if there were 3,500 foreclosures with a population around 3.5 million we are at 1% on the population. Now I’m not saying foreclosures aren’t a big deal and it is a huge deal for those 2,500 – 3,500 going through one. Here is a link to another video and report that explains how you can avoid going through a foreclosure.

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Calgary Mortgage Broker pt2

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