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Mortgage brokers play a crucial role in helping individuals and families secure the financing they need to purchase homes or access the equity in their properties. In the world of mortgage brokering, timing is often everything. Clients come to you seeking guidance and assistance in securing loans, and your ability to provide them with timely…

In Montreal, a determined woman named Jana confronted a difficult phase in her life, marked by a complicated divorce that resulted in emotional strain and a damaged credit score. Jana inherited a dilapidated duplex from the divorce settlement. The property required extensive renovations, but her poor credit left her struggling financially and unable to afford…

When it comes time to take out a mortgage on a purchase project, most people immediately think of big banks. However, they are not the only ones on the market. Indeed, there are many private lenders, a somewhat lesser-known and less-used option. Despite the fears and skepticism that they can sometimes engender, they can be…

Borrowing and lending: these terms refer to a financial transaction and are considered synonymous. However, their strict definitions differ slightly. This post offers a clarification of each word and, at the same time, explains the difference between a bank and a private mortgage lender. The question is, can you get a loan without relying on…

When buying a property, most people rely on a mortgage. But once a house is acquired, some homeowners may decide to take out a second mortgage. Depending on the borrower’s financial situation and past financial transactions, it may be necessary for the borrower to obtain a new loan or undertake a loan consolidation, in addition…

A contract broker is a mediator between a budgetary institution that offers advances and an individual attempting to borrow money. The contract broker will work with both parties, collecting and verifying the fundamental printed materials the loan specialist needs from the borrower in order to arrange the loan. A contract broker ordinarily works with numerous…

Short-term credit is a credit with a duration of generally less than two years. This type of credit is generally granted by a financial institution. A short-term loan is a loan that typically has a maturity of no more than two years. In most cases, this type of credit covers urgent or ad hoc needs.…

When an individual develops a project that is close to his heart, he often needs a financial boost to carry out his plan. When a bank or a credit institution turns down a consumer loan application, however, it can be extremely discouraging. Fortunately, this setback can be overcome. Why can consumer credit be refused? A…

Before granting you a credit, the financial institution must assess your creditworthiness, ask you a few questions and request supporting documents. Essentially, an update on the audits conducted by the bank is required. Not All Credits Are Available to Everyone The bank must ensure that the conditions for obtaining the loan are met by the…

As we all know, the Coronavirus pandemic has had a big impact on the economy. Many businesses and Canadian citizens have had to find solutions to deal with this crisis. Many economists predict that the economy will go into recession, and yet, it looks like it is recovering faster than expected. It seems like Canadian…