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When it comes to mortgages, Canadians are used to looking to the big banks for their financial needs. However, as these financial institutions tighten their lending requirements, Canadians are realizing that mortgage financing may not be as easily attainable as they thought.

The truth is that private mortgage lenders play a valuable role in the Canadian mortgage financing system. For many Canadians, a private mortgage may be their first step towards homeownership. Private mortgage lenders specialize in providing mortgage financing to clients who do not meet the criteria for conventional financing.

Recover from Tax Arrears for Self-Employed Worker

Recover from Tax Arrears for Self-Employed Worker

A self-employed construction worker injured his foot while working and was unable to work for one year due to the injury. With the reduced income, while recovering from the injury, he needed a solution that will pay off his personal debts and tax arrears completely. He needed a solution from alternative lenders who will lend him a loan based on the equity in the house so can pay off the personal debts and tax arrears until he is fully recovered and back to full his previous level of income as a self-employed construction worker.

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Recently Divorced And A Significant Credit Card Debt

Recently Divorced And A Significant Credit Card Debt

A recently divorced couple was looking to refinance to pay out all of their mounting debts, including an existing first and second mortgage and significant credit card debt.

After meeting various bank representatives to no avail, the couple found their solution from one of the lenders of the Canadian Private Mortgage marketplace.

This couple was able to proceed with their divorce resolution amicably and the wife will assume ownership of the property with the mounting debts paid off and come out with a better cash flow.

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Purchase a Single Family Bungalow & Partial Conversion to Become a Day Care Centre

Purchase a Single Family Bungalow & Partial Conversion to Become a Day Care Centre

The husband works as a self-employed contractor and his wife has been running a home-based daycare business. They needed funding to purchase the house and set aside some renovation budget to rework the interior of their new home. But, their existing lender backed out on the closing day. This couple was left scrambling to find an alternative lender to close the deal.

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