• Why Refinancing Your Mortgage May Be The Best Financial Move For You

    You Can’t Judge A Book By Its Cover

    As it is said: “you cannot tell a book by its cover”. Alex and Karen taught me this lesson after our first interview. After being referred by a past client, it was difficult to determine their needs. I found the couple aloof and suspicious. This was not going to be easy getting to the centre core to properly assist them.

    Building Trust With Your Mortgage Broker

    In preparing for our next session, I had to take the aggressive lead. I explained there was no obligation and no cost as well I would not have them sign anything except a credit check if they decided to proceed. They seemed more relaxed and they allowed me not only to allow probing questions, but they showed some emotion with frustration and hopelessness.

    Getting To The Root

    We determined their main two issues financially were credit and cash flow issues. Financially we were making progress, but some things still did not make sense. Given they made a combined $175,000 annually, how could they be in such trouble? This question seemed to open up the real problem. The couple had a young child in the hospital for several years. Karen took time off to look after her young girl. Not working and spending on in-home medical equipment put them in heavy debt. Now my thoughts on these parents completely changed. I had to ask them one more important question: why did they show so much distance in the first interviews? The mortgage broker they had used the year before charged a huge fee but the debt problem still existed. Now that book I viewed in day one was now looking like a best seller. They were wonderful people.

    The Solution

    Given the issue of credit and cash flow and given that Alex and Karen house value had risen we did the following:

    Put all the debt in a mortgage from $379,000 to $536,000.

    Why? To improve cash flow. Their monthly obligation went from $4500-$2000. A $1700 per month savings.

    Put the couple in a nearly prime mortgage at approximately 3.5% over 30 years.

    Why? To end the stress and build up a proper credit score.


    Two years later we got them in a prime mortgage at 2.29%. More importantly, their daughter has a clean bill of health.

    Although it’s exciting participating in a clients first home purchase, nothing beats having an impact like helping Alex and Karen. Many people think it only helps their financial stress, but working in the industry over 30 years it does a lot more.

    We also improve the following:

    • Mental stress
    • Physical stress
    • Improve your overall health
    • Improve all types of relationships including marital, work, friendships and with the kids.

    I am very fortunate that I have this amazing position. Do I have a job satisfaction? You Betcha!!!!!

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