Once you understand what mortgage lenders don't want to face, you will better understand whether or not your application will be viewed in a good light by the mortgage lenders you apply to - taux hypothecaire.

A home lender has two major fears:

To lose money

No lender wants to forfeit his capital or the interest on a home loan. Loan defaults can and do occur - taux hypothecaire, and from the lenders perspective, it happens all too often.

In this case, the lender will have even more costs over the loss of capital and interest, because he has to hire a lawyer to start foreclosure proceedings.

Then, he has to be concerned that the bank will be able to sell the home for enough to recover their costs of principal (taux hypothecaire), lost interest and lawyer's fees.

Losing Time

For a mortgage lender, the steps to repossess a property is a loss of his time. He really prefers to lend the money and collect the payments. To work with lawyers, follow all the necessary legal steps and take care of the house before it is sold and to sell the property are not activities that he wants to be bothered with.

He is just losing his time!

Even if the mortgage lender does not lose money (taux hypothecaire), because the mortgage is insured by the CMHC or another insurer, he will take all the required steps to make sure each loan is a good loan, with the least possible chance that he will have to foreclose on the property.

You may ask, as many people do, ?Why does the lender worry about my credit? He has the home as security on the loan.?

The answer is that the banks does not want your home, they only want the principal payments and interest you make on the home - taux hypothecaire.