Posted in Sometimes the best mortgage is the one you walk away from.
We had the pleasure this week of working with a young military family in their attempt to purchase their first home. Although they had solid income and strong credit, their levels of debt were simply too high to proceed on their own with a limited down payment. Undaunted, they had talked one of their parents into assisting by not only co-signing the mortgage but by helping them pay off some of their debts.
On paper, this solution worked. But was it in the best interests of this family? Absolutely not. We took the time to have a 1 hour discussion with the parents (without the children present) to help them understand not only their financial obligations as part of the transaction, but how this new home would impact the day to day budget of their kids. After careful consideration, the parents decided to withdraw their support and the deal collapsed.
At Simpligo, our job really isn't just to find you a mortgage. It is to give you advice that will positively benefit your family's financial well being. If that involves getting you a new mortgage or restructuring what you have great, but if sound advice and common sense dictate you shouldn't proceed that's fine too.
If your current bank or broker isn't providing the type of forthright, honest advice you are looking for, please give us a call at (613)394-5810. We'd be honored to have the opportunity to earn your business.
#vericosimpligomortgages #honestadvice #mortgages
Sometimes the best mortgage is the one you walk away from
February 25, 2018 @ 2:26 PM by:
