Second Mortgages In Ajax
At Ajax Mortgage Agents we’ve been providing second mortgages in Ajax and Ontario-wide for more than 10 years. Our mortgage broker specialises in dealing with mortgages with bad credit, or other issues preventing them from getting bank mortgages. Whether you are looking to purchase a new home or need to use the equity in an existing home, we can help get the financing at competitive rates. We take the time to discuss your situation in detail and help you decide on the best course of action for your unique circumstances.
Private Lenders in Ajax
We have connections to a large number of private lenders that are able to provide financing for people with bad credit or those looking for alternative mortgages. Our private lenders may accept people with bad credit or low income. Typically these lenders will lend primarily on the down-payment on a property or the equity that is present in the property. These lenders are able to provide a variety of different financial services which include:
- First Mortgages in Ajax
- Second Mortgages in Ajax
- Mortgage Refinancing
- Ajax Private Mortgages
- Mortgages for Bad Credit in Ajax
- Home Equity Loans in Ajax
- Stop Power of Sales in Ajax
- Stop Foreclosures in Ajax
Mortgage Refinancing In Ajax
If you are looking for ways to gain access to money, refinancing your existing properties is one way to get funding at better rates than those offered by credit cards or payday loan shops. There are many reasons why a person may look to refinance their mortgage, some popular reasons include:
1. To obtain a lower interest rate
Sometimes when you have loans with very high interest rates, it is possible to save money even after penalty fees are paid out. It is very important to know the numbers behind the cancellation fees before taking action, and our experts are able to help determine if it is worthwhile. Generally speaking, you can expect to pay a penalty equal to three months of interest for breaking a variable rate mortgage, and even more than three months for fixed rate mortgages.
2. To access your home equity
By using our network of lenders we can help you borrow up to 80% of the value of your home minus any existing mortgages or liens. The money can then be used for whatever you’d like, from renovations to education to new cars.
3. To consolidate existing debts
Sometimes when you have many high-interest loans, such as credit cards, you can save a considerable amount of money by combining these debts into a single large low-interest loan. Our loans are always secured against real estate which allows us to offer better rates and save our clients money.
Stop Power of Sales in Ajax
When a person cannot pay their mortgage, one of the remedies that the lender can use is called “Power of Sale”. The lender can begin the Power of Sale process just 15 days after the non-payment of the mortgage fees. If the home owner does not pay the outstanding fees then they can issue a “Statement of Claim” which allows the lender to continue with the Power of Sale proceedings. When a Power of Sale is completed, the lender will have sold the house to recover the amount they are owed. Our team are some of Ontario’s top specialists when it comes to stopping power of sales in Ajax. A power of sale is a legally complex proceeding and action should only be taken after considering all the different factors. If you or a loved one is facing a Power of Sale, we are more than happy to speak on the phone for free to discuss your options.
Stop Foreclosures in Ajax
Foreclosure is alternative to a Power of Sale and is a less commonly remedy for lenders looking to recover their money. The foreclosure process takes longer than a Power of Sale and is more expensive to process. Typically, lenders will only use foreclosure when there is considerable equity in the property. Unlike Power of Sale, foreclosure allows the lender to take over the property and all remaining equity in the property.
If you think you may need our services feel free to give us a call at 905-614-2571 and we will go over your options free of charge.