Every mortgage broker has a file that sticks with them.

Sarah and Mike had a mortgage renewal that went sideways — not because they did anything wrong, but because their old broker got slow, the paperwork stalled, and while everyone was waiting on “just a few more days,” their bank quietly moved the file into arrears. By the time they called me, the letter that started the foreclosure clock had already been sitting unopened on the kitchen counter for three weeks.

The instinct — theirs, and honestly most brokers’ — is to look at the house, see there’s plenty of equity, and hand over a big private mortgage to make the bank problem disappear. But if the reason you fell behind was a pile of smaller debts eating your cash flow every month, handing you a lump of cash doesn’t fix that. It just moves the crisis six months down the road with a bigger payment attached.

We ran the real numbers instead — not “what can the house support,” but “what do these two people actually need to be safe.” Those turned out to be very different figures, and the fix looked nothing like the obvious one.

Read the full story, including the myths people believe about foreclosure and private mortgages, on MortgageClarity →

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

p.s.s- I should tell you that I am licensed in Nova Scotia Brokerage (2025-3000179) Broker (2025-3000180), Ontario(M23006699).

p.s.s.s You can download my new mortgage app here

Patrick Sawler is a mortgage broker and owner of Craigburn Capital, licensed in Nova Scotia and Ontario, with private financing available in New Brunswick and PEI. He answers his phone.

Ready to have a real conversation? Call 902-612-2688 or start your application here