Remember the Carlsberg beer ads from a few years ago, which said "You and the bank own a lovely house together...?" If you have visions of old Mr. Potter from It's a Wonderful Life in your head when you think about applying for a mortgage, I can help answer some of your questions about mortgages and put you in the homeowning game.

A mortgagor (the financial institution) finances the purchase of property by securing a mortgage. This involves the temporary transfer of the property's title to a mortgagee (you) as security for the amount borrowed.

Issues relating to mortgages can be confusing sometimes. For example:

• You can actually qualify for a mortgage before you buy a house
• Successful refinancing of an exisiting mortgage at lower rates (which sounds good at first... who doesn't want a lower rate?) may involve elements such as time penalties as restrictions
• Second mortgages can often be arranged at rates as low as first mortgages and can be even more flexible
• Foreclosures or power-of-sale are not automatic -- they can be stopped.

I can answer all questions, such as:

• What are current interest rates and how do I get the best one?
• How big a mortgage payment can I afford and what do my payments cover?
• When is the best time to secure a mortgage?
• Do job stability, credit history and income affect my ability to get a mortgage?
• Can I get a mortgage with bad credit?
• Is it possible to get a mortgage with a previous bankruptcy?
• Is it possible to get a mortgage with hard to prove income?
• Can I get a mortgage without putting anything down?
• How do I secure a second mortgage?
• How do I renegotiate my existing mortgage?
• What is bridge financing and when do I need it?
• Do I need mortgage insurance?
• What is the difference between open and closed mortgages?
• Do I need a lawyer to get a mortgage?