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Emergency Mortgages for Homeowners!

85 Alive - Emergency Mortgages ™

Our new program helps homeowners get emergency home loans FAST!

On November 1, 2012, Expert Mortgage launched the “85-Alive” program in Ontario. The concept is simple: as long as you own your home and, are breathing, Expert Mortgage can provide you with a home equity loan, up to 85 per cent of the value of your property. It’s that easy!

The reason why Expert Mortgage can offer a “no questions asked” lending program, while the major banks can not, is that we represent over 400 private lenders who lend strictly on property value. These lenders specialize in mortgage clients who have had some bad luck, and need a helping hand until they get back on their feet.

Good sound financial advice suggests every household should have 3-6 months of income tucked away for a rainy day. Unfortunately for many, they have assumed that their income would always be stable and haven’t planned for a sudden turn of events. Many people nowadays have chosen to put all of their life savings into their house, and have no way to access it when they encounter financial problems. We work with people who are unemployed, have damaged credit, who are behind on their property taxes, or simply need access to their “rainy day funds”.

The program has been very successful and as a result, Expert Mortgage has partnered up with private lenders to help fund the borrowers who are taking advantage of the program. Licensed Mortgage Agent Alex Pulcini, Expert Mortgage’s “85-Alive” representative for Milton, says, “We’re seeing mostly homeowners behind on first mortgages and property taxes. Many of these people have lost their job due to the downturn in the economy. New business start-ups and self-employment is also on the rise. In these scenarios, the banks are refusing to restructure their loans. Unless you are a perfect applicant, the bank is usually unwilling to help.”

Homeowners like Anita P. explains why she took advantage of the program and how she plans on making payments on her mortgage when she has no income. “We were four months behind on our mortgage and they saved our house. My husband has been unemployed for nine months. He won’t be unemployed forever. We used the 85-Alive loan to pay off all our debt. We also had $25,000 left over that we put in the bank for emergencies. And to make life easy, Expert Mortgage worked it out so we have no mortgage payments for 12 months.”

For more details on the ”85-Alive” program, contact our team at 1.800.762.5191 or fill out the quick form.
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