BAD CREDIT RE-MORTGAGE 1-866-573-3122

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Second Mortgage Questions and Answers:

Q. How soon do you respond to online mortgage applications?

A. A mortgage representative will contact you within minutes of receiving your online mortgage application or you can call us for immediate service.

Q. Can I use the money to pay off high interest credit card and other payments?

A. Paying high interest credit cards, auto loans, lines of credits? You can save huge by refinancing your mortgage and paying off all high interest debt, in some cases hundreds of thousands of dollars over the life of the loans.

Q. How does my credit score effect my mortgage rate?

A. Your credit score effects your mortgage interest rate, getting a second mortgage to clean up your credit can significantly lower your rate when your mortgage comes up for renewal saving you tens to hundreds of thousands.

Q. What is the least amount of equity I need for a refinance or second mortgage?

A. It varies from region to region, however if you have lived in your house for some time, you most likely have enough equity. In financial terms we can go up to 85% LTV or more in some cases.

Q. What are my mortgage repayment options?

A. Choose how to pay your second mortgage you can set the payment and the length, or choose a 1 year pre-paid mortgage option with no mortgage payments for the first year.

Q. How do I choose between a second mortgage or a refinance?

A. Please read the section below for a more detailed answer, generally tho a second mortgage is good for fixing your credit, then when your loan comes up for renewal you can refinance for a lower rate and pay the second mortgage off.

Q. How are second mortgages secured and what are the possible mortgage repayment term lengths?

A. Second mortgages are secured by your home, choose payment options from 1 - 35 years, its best to have the loan come up for renewal at the same time as your first mortgage that way you can easily refinance into one loan.

Q. What can I use my second mortgage or refinance money for?

A. You can use the proceeds from your second mortgage on or for anything, we recomend paying off high interest debt first however what you do with your money is completely up to you.

Q. What is home equity?

A. Your equity is the amount remaining after you subtract whats owed on your mortgage from your house value.

Q. What other ways can you receive your second mortgage money?

A. You may also choose to receive an Equity Line Visa card. We can set up a similar equity line of credit, however most customers want the money direct deposited or a cheque.

Q. What is the most popular mortgage you offer?

A. Our most popular mortgage is or 12 month payment free mortgage, locked in at a low interest rate for 5 years.