Any helpful tips on using Exceed Mortgages?

[HeatherBrandt]

Hi all,

We are doing a deal on a very small older house to which is beside a property that we already own. We are buying it to protect our interest in the future, if a redevelopment happens on the subject property, our property will be wedged in and limit our exit strategies.

The only mortgage company willing to look at it is Exceed, and only with CMHC. This is all fine, but they require a Title Plus "approved" lawyer. Again fine, but our lawyer is not on the list and some of the lawyers on the list say they will not do Exceed Mortgages. Can anyone enlighten me on this? We are supposed to be closing in a week, but I have a feeling I`d better get an extension!

Thanks,

 

[MikeMcCrae]

Hi Heather,

I am not sure of all your particulars but if CMHC said yes I am not sure why other lenders would not do the deal. Ask your broker to make some calls and see about moving the mortgage to someone else.

 

[HeatherBrandt]

QUOTE (MikeMcCrae @ Nov 23 2009, 01:16 PM) Hi Heather,

I am not sure of all your particulars but if CMHC said yes I am not sure why other lenders would not do the deal. Ask your broker to make some calls and see about moving the mortgage to someone else.


Not sure of the details myself but I am working with Peter Kinch`s office, so I assume they have looked at all the angles.