Toronto, ON -- (SBWIRE) -- 01/19/2017 -- Mortgage Broker Store provides alternative lending solutions for homeowners who have been turned away by banks. They have announced that will now be bringing their second mortgage offerings to the city of Stratford, Ontario.
Many Stratford homeowners are opting for a second mortgage for purposes of meeting their financial obligations. Second mortgages offer lower interest rates when compared to unsecured debts such as credit cards.
A second mortgage refers to a mortgage that is placed on a property with an existing mortgage. The attractiveness of these loans is that they prevent you from having to refinance your current mortgage.
Equity refers to the difference between the amount owed on existing mortgages and the appraised value of the home. The loan amount is typically based on the home's equity.
There are diffident reasons why a person might want a second mortgage. Some reasons include getting extra spending money, paying off credit cards, or stopping a power of sale. Ronald Alphonso, the principal broker at Mortgage Broker Store, specializes in saving homeowners who are threatened by Power of Sale. Ron explains that "Through these mortgages, we hope to help anyone who is at risk of losing their home on account of defaults in their mortgage loan repayments by providing them with an attractive solution that will enable them to get back on their feet faster and with minimal expense."
Mortgage Broker Store is able to help homeowners consolidate their high-interest debt into low-interest monthly repayments. The mortgages can also be used by homeowners to improve their properties and make major purchases.
In some instances, Stratford residents have relied on Mortgage Broker Store to upgrade their homes and convert their basements/garages for renting out to others. This is a way to supplement a person's income – making it easier to repay loans.
About Mortgage Broker Store
Ron Alphonso is the founder and principal broker at Mortgage Broker Store, which is a brokerage that specializes in difficult financial situations. The products they offer include home equity loans, private lender mortgages, and second mortgages. Ron is well known in the mortgage industry and has appeared on the local news several times.
Mortgage Broker Store,
Brokerage Number: 12800
100 Consilium Pl Suite 200 Toronto, ON, M1H 3E3, Canada
Phone Number: 416-499-2122
Email Address: firstname.lastname@example.org