Mortgage Tools
How Do I Negotiate a Mortgage Refinance When I Have Lost My Job?
Peerless personal finances are not mandatory for clients of Canadian Mortgages Inc., and our mortgage experts can even help you with how to negotiate a mortgage refinance if you have lost your job. Regardless of your financial circumstances or employment status, you will still be eligible for a competitively priced mortgage refinance. We have a great deal of experience negotiating with our lenders on behalf of clients who are:
- Unemployed or underemployed
- Lacking a perfect credit score or lengthy credit history
- Self-employed, commission-based workers, contractors, or entrepreneurs
- Without stable or proven income
Each of our accredited mortgage brokers is sent through comprehensive training to gain an in-depth understanding of credit repair, debt management, and credit building strategies, and can teach you to use your mortgage refinance to keep your finances in order during times of economic hardship.
Mortgage Refinancing Options for Out-of-Work Homeowners
Even borrowers who are unemployed have many refinancing solutions available through CMI's network of private, corporate, individual, and traditional lending partners. Many of these lenders offer mortgage products that are designed for clients who do not have steady income and who have been turned down by banks. A few of the mortgage and refinancing options open to you include:
- 90% financing for equity based second mortgages and second mortgages for borrowers with no documented income
- 95% financing for borrowers with documented income
- Mortgage refinancing with a loan-to-value ratio between 90% and 100%
- Home equity loans worth between 85% and 100%, and home equity lines of credit worth between 75% and 90%
- Up to 85% financing for second mortgage lines of credit, even without documented income
- Private first and second mortgages
CMI lending partners are willing to look beyond your credit score and employment status, and our brokers will leverage the equity built up in your home to negotiate a mortgage refinance. We can also act on your behalf to negotiate a private mortgage, which means the lender is not associated with a traditional lending institution, and has the liberty to approve terms and conditions that are tailored to your specific needs and financial circumstances.
Mortgage Services that Alleviate the Financial Stresses of Unemployment
The services offered by our mortgage experts will facilitate your search for a suitable mortgage product, so that you can concentrate on taking advantage of the opportunities afforded by your mortgage refinance, including:
- Consolidating and controlling your debts
- Lowering your regular loan payments
- Decreasing your interest payments
Thanks to the network of lenders that work with us at Canadian Mortgages Inc., unemployment does not mean you will lose your home. We will show you how to negotiate a mortgage refinance if you have lost your job, and help you with loan repayment strategies and debt management so that you can keep your economic life in order and focus on more important issues.
