Now a great story always consists of a character we can identify with – a villain or overwhelming problem – and a climactic victory over the bad guy or resolution to said problem. It is no different in the day to day world of Barrie residents. I meet hundreds of families who through often no fault of their own – find themselves in overwhelming circumstances. In listening to their stories – I get to assist them in finding happy endings and overcome problems big enough to make Jack and the Beanstalk look easy.
The Story Begins With A Bang
‘Hansel and Gretel’ (names fictional if you did not get that already) were in a foul disposition when my secretary ushered them into my office. I poured some tea and we ate candied gingerbread while they told me their own story. Hansel was in the business of counseling mental health cases through the government however he had lost a few sizable contracts and his income had been decimated over the past half year. Gretel kept home so her contribution to the family’s income was negligible. After months of scraping too little frosting over too much gingerbread – they had gone to see their contact over at their local bank to inquire about securing a short term home loan.
Barrie Homeowner And The Big Bad Bank
After a sizable delay in the time between applying for the loan and the response – it was quite clear that something was amiss. The Big Bad Bank made Hansel and Gretel aware that when they signed their mortgage with them – that they had agreed to a collateral charge in the registration against title. This would prevent them from accessing the equity in their home as under the terms of this charge – the bank had the final say on whether they could or not. Hansel protested! He knew well that there was over 100K in equity in his property. Gretel shifted her skirt and harumffed under her breath that this was no way to do business. With a toothy grin that would make Goldilocks turn and run – their bank rep concluded with finality that there was nothing that could be done.
Along Their Path A Helper Came
With all the drama of the retelling of this tale – we needed to refresh our cups and top our plates with more frosted gingerbread. I was indeed glad that they had found me as their Barrie Mortgage Agent as I had prior dealings with similar nefarious predators of the banking kind. We quickly determined that indeed there was considerable equity sitting in their home. It was also confirmed that they were indeed in a sticky sweet mess with the fine print trap that the bank had pulled on them with the collateral charge rather than a standard charge mortgage. It had never been disclosed to them properly – the limitations being imposed on them in their present contract. The first actionable item on our list of to-do’s was to push back to the bank and request a change of registration. This was highly irregular in it’s presumption – said the Big Bad Bank. Not at all was the response from myself on behalf of our sweet toothed friends. The bank’s team of lawyers graciously took the time to review and made an exception to make the change (at Hansel and Gretel’s expense of course).
Tailoring A Barrie Mortgage Solution With Style And Ease
Now that the hindrance had been removed we were able to provide them with a short term private home loan that would bridge the gap and assist in staving off financial ruin while Hansel worked on more important things. Like getting a government contract with the bank to counsel their employees who deal with the guilt of their predatory type behaviour.
Our couple finished off the last few sugary crumbs from their plates as we completed our business together and with a twinkle in their eyes – thanked me for assisting them in finding them a loan in a tight spot. I sent them on their way with a bag of gum drops for the road and warned them once more of the dangers of being happy go lucky homeowners. Education and vigilance are ever needed in a changing financial landscape and the banks are ever trying to find ways of consuming the sweet fruit of our labours. Have a story or problem that is worthy of a child’s fairytale book? Take a brief moment and reach out to me below and we can work together towards a ”The End’ that will make you smile.