Victor Matos – Mortgage Agent – Insurance and Investments Advisor
Congratulations to a very nice family from Hamilton, on the approval for a Mortgage that cleared up a clump of complications! This one took a while!!! I first met the clients in early June. They had a mortgage which was up to date, but due to an accident that one of the clients had, resulting in loss of income from work, credit cards got loaded and not always paid on time. It was not a work-related accident, so there was no workers compensation and the clients had no insurance. They had some equity on their house, but "their" bank would not give them a mortgage to consolidate the debts. By the time they were referred to me, things were already out of control.
Paperwork was all over the place, income taxes were not filed, and once that happened, to make matters worse, there was money also to be paid to Revenue Canada. The credit scores just crumbled. Nobody cared. Nobody wanted to deal with them.
I came up with a plan. First, let's get things organized. Pretend we're going to Court. Make a case. Sort things out. Then I started approaching private lenders. Eventually, I found them a lender that agreed to consolidate all debts, give them a mortgage for a year, and we're going to work on raising the credit score, so that I can get them a bank mortgage at lower rates in 12 months! We also started a tiny savings plan. Whatever goes in there, it's profit - Every dollar helps.
Don't take things for granted - life can fall apart very fast. But never give up - there is always some solution - Make it happen!!!