Moyses Levy

 Being a homeowner is a huge undertaking. As a homeowner, you're responsible for mortgage payments, property taxes, maintenance on the home, and the exterior upkeep as well. They're all major responsibilities but the one responsibility that's the most important, and that will affect your ability to handle the responsibilities listed above, is selecting an affordable mortgage loan; the key to that is know what your financing options are and how to use those options to your advantage. Three steps is all it takes.   The first step in using your financing options to your advantage is to shop around for up to three mortgage lenders-whether they're brokerage firms or bank-direct lenders-to foster the financing of your mortgage. Find firms / mortgage consultants that are patient, willing to answer your questions directly and that appear to genuinely care about helping you find a good mortgage loan. Do not move forward with the second step until this is done.   The seco...

 Types of mortgage advice   So what are the different types of mortgage advice and where would you expect to find them?   Non-advice   This type of mortgage broker offers the least consumer protection, they will simply ask a set of questions to narrow the customers requirements and thus filtering the number of mortgages available. They then present the customer with a small list of possible mortgages for the consumer to choose one appropriate. The consumer protection here is based on the script of questions the broker asks. The script is a process determined prior to the consumer appointment, and is impersonal. Therefore specific personal circumstances are unlikely to be assessed. It also assumes that the customers answers are factually correct and the final choice is made solely by the consumer. Although no advice is offered these brokers do handle the arranging of the mortgage on the consumers behalf, and therefore dealing with all the chasing and remov...

 When a person purchases a property in Canada they will most often take out a mortgage. This means that a purchaser will borrow money, a mortgage loan, and use the property as collateral. The purchaser will contact a Mortgage Broker or Agent who is employed by a Mortgage Brokerage. A Mortgage Broker or Agent will find a lender willing to lend the mortgage loan to the purchaser.   The lender of the mortgage loan is often an institution such as a bank, credit union, trust company, caisse populaire, finance company, insurance company or pension fund. Private individuals occasionally lend money to borrowers for mortgages. The lender of a mortgage will receive monthly interest payments and will keep a lien on the property as security that the loan will be repaid. The borrower will receive the mortgage loan and use the money to purchase the property and receive ownership rights to the property. When the mortgage is paid in full, the lien is removed. If the borrower fails to repa...