Get off to a Great Start by going Debt-Free!

 

You Can Get Out of Your Debt-Cycle by Using Your Home Equity

Credit Card debt, lines of credit, loan payments and interest payments could be standing in the way of your financial security. With rising costs for pretty well everything, it could make it near impossible to get ahead with your debts. Now is a great to take control of your debt cycle through Debt Consolidation or an Equity take out. It’s a simple concept: roll up all the extra debt owed outside of your mortgage and consolidate it in to an existing mortgage or a new mortgage. If you have equity in your home, it is the simplest way to eliminate debt. Getting in touch with me, I can quickly assess your goals to figure out what your options are. Best of all, my advice is under no obligation and it is free. Key Advantages of Debt Consolidation: · Trading multiple higher-interest debts for one lower rate · Lowering your monthly payments · Get out of debt faster and free up some cash-flow · With my strategies I can show you how to pay off your mortgage faster also Debt consolidation can offer a big relief for someone who is struggling with their monthly debt load. If can’t help you, I more than likely can offer some solutions that can help also.

Are You Swimming in Debt?

 

Are You Swimming in Debt?

Good day, After a long couple of years, a lot of us have found ourselves with a little more debt than we would like. Join the many I have already helped to lower their monthly payment obligations and get out of unsecured debt. On average I am seeing monthly payment savings of approximately $1,000. I don’t know about you but I could sure use the extra money in my pocket. The reality is, property values have risen quite a bit over the last 6 months which is allowing people the opportunity to pull out equity and consolidate everything. Not only that, but with my strategies, don’t think of this opportunity as starting over. You can use the savings you achieve every month to take advantage of excellent pre-payment privileges to pay your mortgage off even quicker than before which will in turn improve your long term financial freedom. In just a couple of minutes I can determine exactly what that will look like for you. Give me a call now if you think this might be of interest to you! If you think this information could help out a friend or a family member, I would really appreciate it if you would forward this email or provide them with my contact information. I will look after them as if they were a friend or family member to myself.

Book a Virtual Meeting Now!!

Phone / Text 403-828-1838 Email: mortgages@shawnmooney.com Website: www.shawnmooney.com

Some conditions may apply. Rates are subject to change. Subject to lender / insurer approval.

Tax Season is Upon Us

 

Tax Season is Upon Us Hello Shawn Are you self employed and are planning to purchase or refinance a house this year? If you are, then you should get in touch with me prior to filing your taxes. I can help you figure out the amount of income you will need for either refinancing or purchasing a house so you will be in the best possible situation. Failing to do so could cause you not to qualify. Tax season is upon us. Do you owe revenue Canada money? Did you know that if you do it is 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 installments 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 be happy to help you find a solution if I can. If you think this information could help out a friend or a family member, I would really appreciate it if you would forward this email or provide them with my contact information. I will look after them as if they were a friend or family member to myself. Book a Virtual Meeting Now!! Phone / Text 403-828-1838 Email: mortgages@shawnmooney.com Website: www.shawnmooney.com Some conditions may apply. Rates are subject to change. Subject to lender / insurer approval. Copyright (C) 2022 Bayfield Mortgage Professionals Ltd.. All rights reserved. You are receiving this email because you opted in at our website or you opted in over the phone. Our mailing address is: Bayfield Mortgage Professionals Ltd. 67 Coopersfield Park SW Airdrie, Alberta T4B4K8 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe

Mortgage Rate Update | 31-Dec-18

New Year, New Start. Get your finances in order. Now's a great time to refinance your house and consolidate your debts. Call me now to see how much you can save. #happynewyear #callmenow #lowerpayments #xmasdebt

www.shawnmooney.com/rates

#mortgagebroker #realestate #property #house #firsttimebuyer #home #condo #buy #sell #yyc #airdrie #yycmortgage #yycrealestate #yychomes #investment #realestateyyc #ouryyc #preapproval #prequalify

As always, you can keep updated on current interest rates at www.shawnmooney.com/rates

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

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

Need Money? Has the bank turned you down?

Has the bank turned you down? If you need money and you have enough equity I may have a private lender who can help get you back on track!

For more information check out the following web pages;

https://www.shawnmooney.com/equity-take-out

https://www.shawnmooney.com/2nd-mortgages

https://www.shawnmooney.com/private-mortgage

#showmethemooney #mortgage #mortgagebroker #realestate #invest #property #house #firsttimebuyer #home #condo #buy #sell #bayfieldmortgage #verico #yyc #airdrie #mortgages #yycmortgage #yycrealestate #yycrenovations #yychomes #investment #realestateyyc #ouryyc #preapproval #prequalify #fullservicemortgage

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

Do you have too much debt?

Get rid of your high interest credit debt now! #mortgage #refinance #lowerpayments #yyc #airdrie #realestate

Contact me for details.  Only takes 5 minutes to explore your options.

2nd Mortgage FAQ

When you purchase your house typically what happens is you arrange a new mortgage to cover the amount needed to buy your house.  This mortgage is then registered on the title of your new house which is then called a 1st mortgage.  It becomes the 1st mortgage because it is the 1st charge registered on the property title.  We can provide poor credit mortgages also.  

2nd mortgages are basically loans registered against your property title.  They are called 2nd mortgages because the are the 2nd charge registered against your property title.  In this process we would not touch your 1st mortgage.  Everything would remain the same on it. 

Bayfield Mortgage Professionals Ltd. has our own in house mortgage investors so as a result we have access to lots of money for use in these cases.  I am constantly in search on new investors and products and as a result have found lots of additional investors which I can use for 2nd mortgages. 

Several common Uses for the money borrowed here include;

• Debt Consolidation
• Pay off Collections
• Pay off Judgments
• Clear up a revenue Canada debt
• Get your house out of foreclosure
• Reduce monthly payments
• Improve credit rating
• Pay off your credit cards
• Not reliant on Credit
• Not reliant on Income
• And much, much more.

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

Cash-Back Mortgage FAQ

What are Cash-Back Mortgages?

Cashback mortgages are just that.  They are mortgages in which you are given cash back to pay some debt or do renovations and so on…

Basically it is a mortgage product which allows you to get beyond the maximum loan to values allowed today on both purchases and refinancing.  I wouldn’t suggest using a cash-back mortgage for renovations as we have better products available to help you with that.

For a purchase the minimum down payment you have to come up with is 5%.  So let’s say for example you buy a house worth $400,000, the down payment would be $20,000.  There are a couple of lenders which will allow you to borrow up to all of your down payment back.  So basically you have the ability to borrow back up to $20,000 to pay off debt or do renovations and much more.

For a refinance the maximum loan to value you can go up to is 80%, with this product you have the ability to get all the way up to 85% of your properties value.  So if you refinanced a $400,000 house to $320,000, you would be able to borrow an additional $20,000 with the cash-back.  You can use the money to pay off debt and do renovations and much more.

It is important to know however that in doing so you will be forfeiting today's discounted rates.  Your rate will be higher than it would normally be otherwise.  For example let’s say with 5% down I can get you a 5 year fixed rate of 2.89%.  With the cash-back mortgage with 5% cash-back your rate would be roughly 5.14%, so a lot more expensive.

Also, the money cannot be used for the down payment of your house.  In addition to that if you pay out the mortgage before the end of the term the payout on the cash-back portion could be in full.
I would strongly recommend you get in touch with a mortgage expert (like myself) to help you determine if this product is right for you. 

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

Spousal Separation FAQ

In recent years there have been lots of changes to the rules which affect they types of mortgages of available.  One of the biggest changes is the reduction in the maximum loan to value allowed.  For a refinance the maximum loan to value is 80%.  So, if you have a $400,000 house the maximum you can borrow is $320,000.  This ultimately affects the ability to refinance in a situation where you are in a separation or divorce and the amount needed exceeds 80%, which unfortunately are so many these days.

Who is this product for?
This product was designed for people who are separating or divorcing from their spouse.  More specifically for people who are in need of financing in excess of 80% of the matrimonial homes value.  It has been my experience that most of these situations require financing for enough to take over the existing mortgage, buyout the ex-spouse and to possibly pay out debts.  This product will help to do all of these.

What is the product for?
 Basically, this product will allow one of the two ex-spouses to buy the house from the other.  Because we are arranging this new mortgage as a purchase, the lender is allowing us to go up to 95% of a property’s value.  For example, if a property has a value of $400,000 then you can get financing of up to $380,000, this is $60,000 more than previously allowed.  The money can then be used to pay off the existing mortgage and the penalty, also buyout the ex-spouse and pay off debts.

What are the Benefits?

• From 80% to 95% financing
• Allows one of the ex-spouses to keep the house
• Helps avoid the sale of the matrimonial home
• Helps both with the allocation of joint debts

Besides the arrangement of a new mortgage to release ones obligation I think this product addresses another really big problem which is commonly faced.  It allows one to be released from the obligation of a joint debt by rolling it in to the mortgage.  Even though it is often specified in a separation agreement that he or she is no longer responsible for a joint debt I would say it is rare that a lender will allow that person to come off of the debt.

What’s Next?
The first thing I will do is provide a free consultation.  In that consultation I will work with one or both to determine what options are available.  Also, I will pre-qualify one or both to make sure it is structured in a way that is most beneficial.  I know exactly how to structure one of these mortgages so I can help walk clients throughout the entire process.  Not only will I be able to help with the arrangement of the mortgage for the buyout of the ex-spouse but I will also be able to determine how to go about helping the other purchase a new house for them also.  The possibilities are endless…  I can think of so many ways to help a client with this.

Please don’t hesitate to contact me if you or somebody you know is in need of help with this type of mortgage.  If you are unsure it never hurts to contact me.

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

Equity Take Out FAQ

Just what is an Equity Take Out or ETO?

An ETO (Equity take out) is simply pulling out the available equity in your house.  An equity take out can be done in lots of different ways.  For example, you could refinance your house and take out your equity this way or you could get a 2nd mortgage or you could look at a home equity line of credit.  There are advantages and disadvantages to each of the methods described above.  If you are considering this, first and foremost use a Mortgage Broker.  There are lots of companies out there that claim to be able to get money regardless of your credit rating and income.  As these companies might be able to do this, you may qualify for a much better option.  I will make sure to customize a solution to suit your needs. We also have mortgages for poor credit.  

With an Equity Take Out you can reduce monthly payments

Are you finding you don't have anything left over at the end of the month after paying all those monthly bills? Use the equity you have built in your home to help manage your debt. Consolidation can help you manage your monthly cash flow and relieve the financial pressure. I can help you with debt consolidation, and show you mortgage options that will help you regain control.

With an Equity Take Out you can pay off high interest credit card debt

Are you only making minimum monthly payments on your high interest credit cards, loans or lines of credit? Now is the time to take advantage of the equity you have in your home and pay down your high interest debt while actually saving thousands.

With an Equity Take Out you can Plan and build for your financial future

No extra cash available to help build your financial future. We can help you free up cash so you do have funds to invest for your retirement and your family's financial future.

Take out equity for almost any purpose!!

• Take a vacation
• Buy a vehicle
  
  
• Renovations for your house
• Get your house out of foreclosure
• Pay off Revenue Canada
• Pay off your property taxes
• Get rid of collections and judgement
• New Business
• Investments
• Second Properties
• Contact me for additional options

Please check out Equity Take out Mortgages on my website for more information.

http://www.shawnmooney.com/equity-take-out

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

Some conditions apply.  O.A.C.

Mortgage Refinancing - FAQ

What is Mortgage Refinancing?

Mortgage refinancing means paying out the existing mortgage or mortgages and replacing them with a new mortgage or mortgages.  Ultimately when you refinance the mortgage you are changing the terms of the mortgage.  You might be changing the term, mortgage amount, amortization period or conditions.  When your mortgage comes up for renewal it is considered a transfer/switch if you decide to get a mortgage with another lender unless you decide to change the mortgage in any way.

Refinancing can help you reduce monthly payments

Are you finding you don't have anything left over at the end of the month after paying all those monthly bills? Use the equity you have built in your home to help manage your debt. Consolidation can help you manage your monthly cash flow and relieve the financial pressure. A mortgage broker can help you with debt consolidation, and show you mortgage options that will help you regain control.

Refinancing can help you pay off high interest credit card debt

Are you only making minimum monthly payments on your high interest credit cards, loans or lines of credit? Mortgage interest rates are still at record lows. Now is the time to take advantage of the equity you have in your home and pay down your high interest debt while actually saving thousands.

Refinance to Plan and build for your financial future

No extra cash available to help build your financial future. We can help you free up cash so you do have funds to invest for your retirement and your family's financial future.  By refinancing you might be able to get yourself low interest money you might not otherwise have access to.  

Contact us today online, in person or by phone and let us help you achieve your financial goals!!

Check out my webpage on Mortgage Refinancing.  http://www.shawnmooney.com/refinance

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