GMC Global Mortgage

Common Types of Real Estate Fraud Canadians Should Be Aware Of

Nadir, The Mortgage Man — Sat, 17 Dec 2011 17:00:16 +0000

In a market that’s gone flat, real estate fraud has increased in Canada significantly. Here are the most common types of real estate fraud to watch out for in Canada. The most common type of fraud seen in Canada according to Global Calgary is phoney loan applications. This type of fraud occurs when one [...]

Mortgage Modification – Beware of Fraud

Nadir, The Mortgage Man — Mon, 12 Dec 2011 17:00:00 +0000

Unlike the United States where loan modifications have become a government supported process, mortgage modification has yet to take off in Canada. If you hear of a programme promising to help you modify your existing mortgage, beware. It could be fraud. Two former San Jose, California residents fled to Canada after investigators began questioning their [...]

Warning Signs of Assumable Mortgage Fraud

Nadir, The Mortgage Man — Tue, 06 Dec 2011 17:00:50 +0000

Assumable mortgages can appear to be a fantastic deal, when in reality they are an opportunity for fraud. Knowing how to protect yourself from a fraudulent mortgage assumption is important. Even financial institutions have become victims of assumable mortgage fraud. In December 2005, six Edmonton residents were implicated in a 30 million dollar case. [...]

The Reason Due-on-Sale Clauses Exist

Nadir, The Mortgage Man — Wed, 30 Nov 2011 19:11:29 +0000

In at least one Canadian province, all mortgages have been considered assumable. In Alberta, the common “due on sale” clause was considered void until a recent Supreme Court of Canada ruling that restraints against alienation must be harmonized with laws protecting contracts. In general, the remaining provinces and territories require a seller to get [...]

Mortgage Broker Recommended by Canadian Financial Planners

Nadir, The Mortgage Man — Sat, 26 Nov 2011 04:47:13 +0000

A November 10, 2011 Globe and Mail posting on personal finance recently revealed that certified financial planners in Canada are recommending that clients “seek the help of a mortgage broker when it comes time to buy a house, or refinance or renew a mortgage.” Is this a growing trend? In a recent Canadian [...]

5 Things a Mortgage Broker Does for You that a Banker Can’t

Nadir, The Mortgage Man — Mon, 21 Nov 2011 09:36:25 +0000

While mortgage brokers are still a relatively new phenomena in Canada and British Columbia, they are rapidly becoming the preferred way to find a mortgage. One of the main reasons is this. Once a Canadian has purchased a home using a broker, there’s no turning back to the old way of doing things. This could [...]

5 Things a Mortgage Broker Does for You that a Banker Can’t

Nadir, The Mortgage Man — Mon, 21 Nov 2011 09:36:25 +0000

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Reasons You Should Consider a Mortgage Broker Over a Banker

Nadir, The Mortgage Man — Wed, 16 Nov 2011 02:49:36 +0000

Buying your first Canadian home can be a bit overwhelming. It goes beyond the size of the commitment. Finding the right mortgage can make the difference between your home purchase becoming an investment or becoming the biggest drain on your finances for years to come. This is one of the foremost reasons the [...]

Debt ruining your retirement? Reverse Mortgage is the Solution.

Nadir, The Mortgage Man — Mon, 26 Sep 2011 02:32:55 +0000

According to the latest Statistics Canada report, almost 20% of seniors find it necessary to continue to work past their retirement, often citing financial obligations such as mortgages and debt repayment as key factors in their decision to do so. Adele and Jim, both 65, were so concerned about becoming a part [...]