Recent Posts

CLIENTS MUST BEWARE OF LIENS AND COLLATERAL MORTGAGES

LIENS AND COLLATERAL CHARGE

To avoid delays and save time on a transaction, one should always obtain clarification on who are the borrowers on title, registration percentage amount of ownership, if there are any liens registered and or if the existing mortgage is registered as a collateral mortgage.

Typically clients are not aware...

more

TIPS ON CONSTRUCTION LOAN REQUEST

CONSTRUCTION LIEN ACT

Are you aware of the contingency hold-back per draw? On construction loans, lenders will fund in increments and there is a mandatory 10% construction contingency hold-back on every draw which is given back to the borrower after 60 days. Some lenders may make an exception not to hold...

more