{"id":6758,"date":"2026-05-30T06:07:04","date_gmt":"2026-05-30T11:07:04","guid":{"rendered":"https:\/\/orchid-dunlin-632746.hostingersite.com\/?post_type=etudes-de-cas&#038;p=6758"},"modified":"2026-06-11T21:52:27","modified_gmt":"2026-06-12T02:52:27","slug":"barbara-retiree-needs-to-access-equity-refinancing-with-private-lender","status":"publish","type":"etudes-de-cas","link":"https:\/\/solutionshypotheques.ca\/en\/case-studies\/barbara-retiree-needs-to-access-equity-refinancing-with-private-lender\/","title":{"rendered":"Barbara, retiree, needs to access equity refinancing with private lender"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Barbara&nbsp;lives in Longueuil. She is retired and owns 4 apartment&nbsp;building,&nbsp;which are&nbsp;currently&nbsp;rented.&nbsp;She needs&nbsp;extra liquidity to make&nbsp;ends meet and&nbsp;bring urgent repairs to her&nbsp;building. Not having a lot of income from her annuities and not having used her credit&nbsp;cards&nbsp;for a long time, she has great difficulty obtaining financing from the banks.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She is looking for a private loan. She told herself that she would like to have a loan for&nbsp;the next&nbsp;2-3 years. This would give her enough&nbsp;time to mourn the loss of city life and then end her days peacefully in her cottage on the South Shore. Her plan is that after 3 years, she would put her building up for sale to pay off&nbsp;the private loan.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She finds a private lender who tells her&nbsp;he is&nbsp;going to help her. He lends her the money, knowing that she&nbsp;will not&nbsp;be able to repay him&nbsp;the&nbsp;loan since she&nbsp;currently&nbsp;does&nbsp;not&nbsp;qualify&nbsp;for&nbsp;the banks, and furthermore, he gives her&nbsp;a fixed 1-year term. He tells her not to worry and that he will renew&nbsp;the loan at the end of the&nbsp;12-month&nbsp;term.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">90 days before the end of the term he calls her to tell&nbsp;her that unfortunately, he needs&nbsp;his&nbsp;funds&nbsp;back&nbsp;and he is not going to renew her.&nbsp;Obviously,&nbsp;Barbara&nbsp;is unable to pay him back and the moment the term ends, the lender sends her a&nbsp;60-Day&nbsp;Notice to try&nbsp;and foreclose on&nbsp;the building!&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Details of the transaction:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Property<\/strong>: Longueuil\u00a0<\/li>\n\n\n\n<li><strong>Value<\/strong>: $ 650,000\u00a0<\/li>\n\n\n\n<li><strong>Requirement<\/strong>: 1st\u00a0rank\u00a0mortgage of $ 400,000\u00a0to pay off current private lender\u00a0<\/li>\n\n\n\n<li>Get a prepaid\u00a0package\u00a0for\u00a0the next\u00a02-years.\u00a0\u00a0<\/li>\n\n\n\n<li>Option to renew a third year if necessary.\u00a0<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Here is what we were able to do for her:&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We&nbsp;placed her with one of our&nbsp;reputable and accredited&nbsp;private lenders with whom&nbsp;we have a track record and common values.&nbsp;We&nbsp;managed to&nbsp;pay&nbsp;off the&nbsp;questionable&nbsp;private lender and set a new 2-year term with an option to renew for a third year.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also, since&nbsp;Barbara&nbsp;does not&nbsp;necessarily earn a lot of money per month, we prepaid the first 2 years, so she&nbsp;does not&nbsp;have to worry about monthly payments.&nbsp;This means&nbsp;$0 per month on her loan for the next 24 months! Too&nbsp;good to be true?&nbsp;not at all,&nbsp;we made it happen!&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Barbara&nbsp;can&nbsp;now take her time, in ease and comfort, put the building&nbsp;up for sale&nbsp;when she is ready&nbsp;and then move into her chalet!&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another satisfied customer!&nbsp;<\/p>\n","protected":false},"featured_media":2542,"parent":0,"template":"","meta":{"_acf_changed":false,"rs_blank_template":"","rs_page_bg_color":"","slide_template_v7":""},"class_list":["post-6758","etudes-de-cas","type-etudes-de-cas","status-publish","has-post-thumbnail","hentry"],"blocksy_meta":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Barbara, retiree, needs to access equity refinancing with private lender | Solutions Hypotheques<\/title>\n<meta name=\"description\" content=\"Discover how Barbara accessed her home equity 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