Do You Owe Revenue Canada Money?

Do you owe Revenue Canada Money?

#CRAdebtsucks #equitylending #privatemoney #Icanhelp #dontwait

Tax season is upon us. Do you owe revenue Canada money?  Did you know that if you do it is considered to be income tax arrears so there fore penalized? Revenue Canada expects you to have your taxes paid in full prior to the tax deadline by paying instalments on you own if you are self employed or having it deducted from your income if employed by an employer.

As such if you are refinancing your house you are not allowed to pay revenue Canada from the proceeds. Also, if you are buying a house these will be required to be paid off in full prior to closing on a new house purchase.  Even if you are on a payment plan with revenue Canada it won’t matter to the lender. If you have an upcoming mortgage renewal, even if a few years away you should start considering dealing with this sooner than later.  If you don’t when your mortgage comes up for renewal you won’t have the ability to shop around or negotiate.

That said, I do have lenders that understand and are willing to help. Both my alternative lenders and my private lenders are willing to help pay off this debt if you have sufficient equity in your house. I have several strategies I implement depending on your specific situation to help.

So, if you have revenue Canada debt and you are unsure as to what to do contact me. I would happy to help you find a solution if I can.

Shawn Mooney | Bayfield Mortgage Professionals Ltd.

Broker of Record

Your Mortgage Broker for Life

Bus. # 403-945-8769 | Mobile # 403-828-1838

Email: mortgages@shawnmooney.com

Website: www.shawnmooney.com