Today, many Ontarians are struggling
financially. The downturn of 2008 has led to job losses and other economic
hardships for many families. When money is scarce, credit problems often occur
-- and a
bad credit rating can compound the problem, making it impossible to
get a bank loan or second mortgage.
Private Lenders: Borrowing Against Home Equity
However, if you need money to get you through
a rough patch and you own your own home, private lenders are often able to
offer you a short term loan. Even when the bank rejects your application, a private
lender will usually allow you to borrow against the equity you have in your
house.
So, if you need cash to pay down debts or to
renovate in order to resell your home, a private lender can help. Look for a
lender that offers a variety of services that will support you as you put your
financial house in order, including:
- Credit
and mortgage counseling
- Competitive
rates
- Flexibility
in financing choices and
- Wide
choice of mortgage options
Consult with a private mortgage broker to
learn more about private lenders today.