Thursday, December 23, 2010

A Holiday Greeting for You

I'd like to take this opportunity to wish you all a happy holidays and successful 2011. Thank you for reading my emails this past year, and for all your mortgage referrals. I am grateful having had the opportunity to serve you.

Whatever holiday you celebrate, there's no denying this is a great time of year for all to wind down and spend time with family and friends, despite the cold weather.

I hope you feel fortunate as I do, to live in a great, peaceful and free country like Canada!

And may this holiday greeting bring you whatever it is you wish for most!


David Grossman

The Mortgage Mensch
Tel: 416 876 2031


Mortgage Specialist (Agent Lic. M08005924)
Mortgage Loans Canada (Broker Lic. 10100)

Monday, December 20, 2010

A Preapproval is a Promise; And a Promise is a Promise

Chris Kringle was about to sign on the dotted line - a firm offer - no room for error. "My bank preapproved me for this mortgage last week" Kringle boasted to his realtor, "let's go in firm."

Kringle was ever shocked later when he learned he was, in the end, declined by the bank. "You said I was preapproved" complained Kringle to his banker. "How could you?"
Although this isn't a true story - in case that wasn't obvious enough - it closely resembles a financing drama I was recently involved in; I was asked to source a mortgage for a buyer who learned his preapproval was worthless, after making a deal on a property.

In my case, the mortgage applicant was declined because the banker didn't properly qualify the source of the applicant's income up front. Although the applicant had steady income, it turned out he was technically self-employed, and couldn't provide the proof of income the bank needed. I got the applicant financing with an alternate mortgage lender, at slightly higher than bank rates in less than 24-hours.

So how can you avoid unpleasant surprise?

By referring your buyer's to a reputable mortgage specialist, you'll not only improve your closing ratios, but you'll avoid unpleasant surprises by knowing in advance of any potential financing issues.

Call me at 416-876-2031.

Get the service and personal attention you deserve!
I look forward to hearing from you.

Your referrals are sincerely appreciated and you can count on me for fast and diligent service.


David Grossman MBA
Tel: 416 876 2031
Mortgage Specialist (Agent Lic. M08005924)
Mortgage Loans Canada (Broker Lic. 10100)