WARNING: Why Mortgage Trouble is Brewing for Toronto Homeowners

WARNING: Why Mortgage Trouble is Brewing for Toronto Homeowners

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►► There will be a wave of Toronto homeowners who will be in big mortgage trouble in the coming months. Toronto homeowners who have had to use an alternative mortgage lender (such as a B lender or private lender) for closings when the market took a turn in Q2 2022 will be in big trouble when their alternative mortgage is up for renewal. This mortgage trouble has been brewing as interest rates kept increasing throughout 2022 and have stayed at the elevated rates.

Here's the shocker... the interest rate is effectively DOUBLE what these Toronto Homeowners got it for in Q2 2022, and some of the private money is even being withdrawn. It's wild out there in the mortgage world. In this episode of PPTV, I'll be going through what this means for the Toronto Real Estate Market and where the opportunities will be. Be sure to tune in, especially if you're a Toronto homeowner in this situation!

#TorontoRealEstate #TorontoCondoMarket #TorontoRealEstateMarket

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