Bad Credit Second Mortgage Lender Toronto

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Bad Credit Mortgage Lender Toronto

Many people do not realize the reality of a Bad Credit Mortgage Lender. They may believe that the person they are seeing is actually lending them the money. Because of this, they may think that the interest rate and loan terms they are getting are the best they can get. In addition, if they have bad credit, they may just be happy to be getting a mortgage at all.

The fact of the matter is that most mortgage companies are actually brokering mortgages between the person wanting the loan and some other company that has money to lend. Because of this, the interest rate charged to a person seeking a bad credit mortgage is often much higher. The reason for this is that the person actually lending the money is taking more of a risk to lend to someone with bad credit.

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