A second mortgage can be an open solution when you need to obtain a significant amount of money fast. At Guardian Financing, we believe that each problem has a solution. This is why we suggest that you inform yourself about the possibility to get a second mortgage. Here are 3 reasons to get one:
It is impossible to foresee everything that will happen in your life like illness or accidents. Fortunately, no matter what life throws at you, a second mortgage can help you get through such ordeals by bringing you the necessary resources. This second mortgage can help you pay for the first one and help you avoid developing a bad credit rating through the negotiation of advantageous conditions. You already have a valuable property, take this opportunity and leverage it to fill the gap in your life.
The good point concerning a second mortgage is that there is less documentation required and often no credit investigation. This is because this second mortgage is based on the value of your property. You can therefore obtain a loan using your house as collateral in spite of bad credit. You’ll have to make payments for the two mortgages at a higher interest rate, which is challenging. However, you’ll get your money fast.
It can be hard to make renovations to your house if you still haven’t finished paying back your first mortgage. Fortunately, you can use the money from your second mortgage as you want. This money can be used to pay for renovations, invest in your business, buy a chalet or for holidays. Usually, you can borrow up to 75% of the market value of your house minus the remaining balance due on the first mortgage. You won’t have to wait any longer to obtain the short-term funds you require.
Guardian Financing is confident that a second mortgage could be a fast and efficient solution whether it is to treat yourself or to solve a problem. If you are interested in acquiring a 2nd mortgage, inform yourself about second mortgages and contact us as of now if you want to know whether this option is favorable for you given your current financial status.
Mortgage brokers play a crucial role in helping individuals and families secure the financing they…
When it comes to real estate, timing is everything. By helping people connect with suitable…
In Montreal, a determined woman named Jana confronted a difficult phase in her life, marked…
When it comes time to take out a mortgage on a purchase project, most people…
Borrowing and lending: these terms refer to a financial transaction and are considered synonymous. However,…
When buying a property, most people rely on a mortgage. But once a house is…