Tag: private mortgages
Tag: private mortgages
Criminal Rate of Interest for Ontario Mortgage Transactions: Practical Guide for Private Lenders, Brokers and Real Estate Lawyers
Criminal Rate of Interest for Ontario Mortgage Transactions: Practical Guide for Private Lenders, Brokers and Real Estate Lawyers Effective January 1, 2025, Canada’s criminal interest rate regime...
Can a lawyer act for both the lender and borrower?
In most conventional cases where the mortgage is not a "private" mortgage or loan transaction, there are no hard rules rather than good judgement and a...
Private Lending: Do not Rely on Someone Else’s Appraisal!
Often private lenders will receive a brief term sheet with an email introduction from a mortgage broker or agent trying to place a mortgage deal. Included...
Challenges in Starting a MIC: Paying Dividends
One of the biggest challenges in running a MIC is when you first realize that the investors who were once your private lenders are now expecting...
A MIC or a Mortgage Investment Corporation: What are they and how do you start one?
With significant potential for favourable rates of return and previously instituted tax exemptions, Canadian Mortgage Investment Corporations (MIC’s) are increasingly becoming recognized as a low-risk method...
