Greg and Martha want to relocate closer to their grandchildren

Greg, a retired high school teacher and his wife Martha, who was a stay-at-home mom, owned a lovely, well-maintained home in Brampton that Greg purchased 35 years ago.

Despite being an active couple in their sixties, their travel time to visit their daughter and grandchildren in Toronto was getting longer and more tiring. Greg and Martha were looking to move closer to their daughter, who had recently given birth to her second son.

Although they own their home without a mortgage, Greg and Martha had been turned down by the bank because they were on a limited fixed income. After doing some research on the internet, they believed a private mortgage was their only solution, until they decided to follow their daughter’s advice to sit down with a mortgage broker and discuss their options.

Their experienced broker determined the proceeds from the sale of their existing home, coupled with the substantial amount Greg had in savings, would allow the couple to qualify for a Classic Home Trust mortgage. This solution allowed them to be closer to their family and left them with some extra money to cover their expenses. Greg and Martha now stay active by being full-time babysitters for their young grandchildren.

Are you a Home Trust broker? Submit a deal or talk to your Business Development Manager to learn more.