Calgary Mortgage Brokers

Posted by Richard Moxley on January 26, 2008 · Leave a Comment

Calgary Mortgage Brokers I have been meeting with a lot of clients lately that have had very bad experiences with the Banks or other mortgage brokers. The good news is that it seems like more Calgarians are using a mortgage broker and not just letting the banks push you into a mortgage without taking the time to explain things. Here are some ways to protect yourself from banks and weeding out bad business people.

Before you fill out an online application you should at least have one conversation by email or by phone with the person you plan to do business with. Just because they have a fancy website or they are ranked number 1 on Google does not mean they are going to treat you right. Ask your mortgage broker questions about what area they specialize in: first time home buyers, real-estate investing, lines of credit, business owners, or commercial? Ask if this is their full time job or do they do something else as well? There are many who are Lawyer/Mortgage Broker or Real-Estate Agents/Mortgage Broker or those who rarely focus on mortgages at all but they want your business anyways. Get a specialist in the area you need. A “one stop shop” person rarely does any good for you, but they do it to capture more commissions for themselves. Don’t believe that everything is in place until you have something in writing. I have had many clients have bad experience because the broker/banker said one thing and they believed them and didn’t get it in writing, and it didn’t end up happening. Make sure that you read the fine print and ask to be walked through the documentation. Don’t be afraid to say, “I don’t understand”. . There are many great

Calgary Mortgage Brokers but you have to protect “number one” and that is your interest and those of your family.

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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 Brokers

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