fbpx
Mortgage Rescues

OUR RESCUE PROGRAM CAN SAVE YOU TIME AND MONEY

Rescues (Power of Sale Escape) - Up to 85% Loan-to-Value (LTV)

Montreal

Rescues (Power of Sale Escape) - up to 85% LTV

This is probably the most challenging deals we handle.

  • If your client is in the power of sale stage, it is extremely important to find out the current pay out amounts, including all legal fees, and a time we must transact on before the more fees are added and derail the deal.
  • We will pay off all existing mortgage in default, judgments, collections and writs, tax arrears, consumer debts and consumer proposal, leaving a minimum of 10% equity to be held in escrow for a high ratio re-purchase in the future.
  • Income requirement is four times income to house value.

Closing cost in advance before the offer becomes firm:

  • $375 and Up for Appraisal
  • $600 and Up for File Activation Fee (when live, we pull title and personal search)
  • $475 Home Inspection
  • $300 Independent Legal Advice

Closing cost deducted from proceeds through a letter of direction:

  • 10% Equity
  • 1.5% Consulting Fee
  • 1% Broker Fee for You
  • Collections, Writs, Judgments, Debts to be Paid Out from Proceeds
  • $1,950 and Up for Credit Management