Sometimes, bad luck can lead a person to a downward financial spiral that ends up with them staring bankruptcy in the face. Things quickly get complicated as the debt piles up, and the prospect of losing their home becomes more real by the day. While this is an unfortunate situation for any person, all is not lost as professional help is always available.

As the best mortgage specialist in Orangeville, Dwight Trafford has helped a wide array of clients some of whom were on the verge of losing their home. Keep reading to learn about how I helped one such client.

The Challenge: A client facing bankruptcy and the prospect of losing their home.

When declaring bankruptcy seems like the best option due to the rising amount of debt, you know that you need to brace yourself for tough times ahead. I feel for such clients and do my best to help them through this rough patch. I once had a client who hit such turbulent times. They were staring bankruptcy in the face and were close to losing their home.

As a specialist in mortgage financing with The Mortgage Centre, I help clients irrespective of their financial scenarios. I took it upon myself to help this client out and help them tide over this unfortunate period.

The Solution: Finding equity for a second mortgage.

I believe that every client is different and has to be evaluated as an individual. I took my time to understand the difficulties this client was facing and after understanding their circumstances, I was able to come up with a solution.

I reviewed their finances with them and realized that we might have a chance of preventing filling for bankruptcy and losing the home. This client seemed to have just enough equity that would allow us to place a second mortgage. We successfully did so and were able to satisfy their judgment with Revenue Canada. With this quick fix, we were able to keep this client from bankruptcy and losing their home. We then put them on a path to improve their credit and work on clearing their debts.

At The Mortgage Centre, I look at every client and assess the best option for them. Sometimes I can introduce a product that solves their problem, and the client didn’t know this product existed, because their bank did not offer it.

The Bottom Line

The recent stress test introduced by Finance Canada, has a lot of clients feeling anxious, but there are other options to get the financing you need to buy that dream home. Credit scores are now more critical than ever and often we have to search for obscure lenders to find a mortgage that will meet our clients’ needs.

I can usually source a mortgage for my clients within twenty-four hours. However, this is not always the case. At The Mortgage Centre, we can provide low rates for triple-A borrowers, options for those hard to place mortgages, and private funds for difficult files that do not meet institutional guidelines. We are the experts, servicing southwestern Ontario for almost thirty years and have funded over $1,000,000,000.00 in mortgages.

As a mortgage specialist in Orangeville, I am dedicated to providing you with all the mortgage-related information you need to make a well-informed mortgage decision on your mortgage financing needs. My advice has always been and will continue to be upfront and honest. To get started, get in touch with Dwight Trafford by clicking here. To learn more about the different types of mortgages I can help you with, please click here.