Mortgage Brokers Abuse The System

In the wake of the Dennis Khanna trials, I believe that this story is a necessary public service. I am a mortgage broker working out of a small office on the East Hamilton Mountain. I pride myself on my honesty, integrity and ethics. Those principles have helped me build a small business of loyal clients who refer their friends and family to me. Not all mortgage brokers are created equally. Some Mortgage Brokers Abuse The System badly, taking advantage of desperate people when they are most vulnerable.

A Recent Example Of Mortgage Brokers Abuse

If you check the images below, this is what we deal with every day; clients who have been taken advantage of by private lenders and Mortgage Brokers Abuse. These abused clients come to us after the fact and we help them rebuild their lives. In this example below, the annualized percentage rate cost of borrowing was 73%. 73% interest!!!!!! The sad part is that this practice is completely legal. In Hamilton, they are shutting down and limiting the numbers of pay day loan businesses around the City but this is happening every day right under our noses. This particular individual who suffered from Mortgage Brokers Abuse borrowed $95K using her home as security and after all the fees and interest, it cost her $17,500 to borrow $95K for 3 months!!!!!! This can quickly result in a downward spiral and the loss of the home.

Exposed For Their Usury Practices

I feel that these usury practices need to be exposed and people need to be educated to protect themselves. This is why I am sharing this. These are good people. There are alternatives.

I am tired of seeing this and I would be happy to arrange or review these documents prior to signing – even to give a second opinion. There is nothing in it for me except knowing that I did the right thing. Please do not fall victim to Mortgage Brokers Abuse.

Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215. Alternatively, you can contact Robert here.

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Thanks for reading!