Lendmax was contacted by a mortgage broker on behalf of this individual who explained her situation. We were informed that her father had become ill just after losing his job. Without his company insurance, he was unable to pay for the medicine and equipment he needed. As his only child, this individual paid for the necessary supplies only to subsequently lose her job shortly after his recovery. As a result, some medical bills went unpaid, blemishing this individual’s credit score. It had been over four years since this occurred, and since then this individual was once again gainfully employed and paid the entire balance of the overdue medical bills. Her credit score, unfortunately, still showed these events.
his individual wanted to take out a second mortgage in order to gift his son a down payment. After repeated attempts to secure mortgage financing from Canadian banks, this individual was referred to Lendmax through our brokerage network.
He spent several years self-employed in a market with large seasonal swings in revenue. His application indicated that, despite these swings, he had a good annual income, which was corroborated by his income tax forms. He explained that his taxable income was reduced because he had reinvested some of his earnings into his business’s infrastructure after a particularly good season.