{"id":5628,"date":"2025-09-19T09:19:01","date_gmt":"2025-09-19T14:19:01","guid":{"rendered":"https:\/\/solutionshypotheques.ca\/?p=5628"},"modified":"2026-04-06T14:32:32","modified_gmt":"2026-04-06T19:32:32","slug":"barbara-retiree-needs-to-access-equity-refinancing-with-private-lender","status":"publish","type":"post","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":"\t\t
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Barbara\u00a0lives in Longueuil. She is retired and owns 4 apartment\u00a0building,\u00a0which are\u00a0currently\u00a0rented.\u00a0She needs\u00a0extra liquidity to make\u00a0ends meet and\u00a0bring urgent repairs to her\u00a0building. Not having a lot of income from her annuities and not having used her credit\u00a0cards\u00a0for a long time, she has great difficulty obtaining financing from the banks.\u00a0<\/span>\u00a0<\/span><\/p>\n

She is looking for a private loan. She told herself that she would like to have a loan for\u00a0the next\u00a02-3 years. This would give her enough\u00a0time 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\u00a0the private loan.\u00a0<\/span>\u00a0<\/span><\/p>\n

She finds a private lender who tells her\u00a0he is\u00a0going to help her. He lends her the money, knowing that she\u00a0will not\u00a0be able to repay him\u00a0the\u00a0loan since she\u00a0currently\u00a0does\u00a0not\u00a0qualify\u00a0for\u00a0the banks, and furthermore, he gives her\u00a0<\/span>a fixed 1-year term<\/span>. He tells her not to worry and that he will renew\u00a0the loan at the end of the\u00a012-month\u00a0term.<\/span>\u00a0<\/span><\/p>\n

90 days before the end of the term he calls her to tell\u00a0her that unfortunately, he needs\u00a0his\u00a0funds\u00a0back\u00a0and he is not going to renew her.\u00a0Obviously,\u00a0Barbara\u00a0is unable to pay him back and the moment the term ends, the lender sends her a\u00a060-Day\u00a0Notice to try\u00a0and foreclose on\u00a0the building!<\/span>\u00a0<\/span><\/p>\n

Details of the transaction:<\/span>\u00a0<\/span><\/p>\n

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  • Property<\/strong>: Longueuil<\/span>\u00a0<\/span><\/li>\n
  • Value<\/strong>: $ 650,000<\/span>\u00a0<\/span><\/li>\n
  • Requirement<\/strong>: 1st\u00a0rank\u00a0mortgage of $ 400,000\u00a0to pay off current private lender<\/span>\u00a0<\/span><\/li>\n
  • Get a prepaid\u00a0package\u00a0for\u00a0the next\u00a02-years.\u00a0<\/span>\u00a0<\/span><\/li>\n
  • Option to renew a third year if necessary.<\/span>\u00a0<\/span><\/li>\n<\/ul>\n

    Here is what we were able to do for her:<\/span>\u00a0<\/span><\/p>\n

    We\u00a0placed her with one of our\u00a0reputable and accredited\u00a0private lenders with whom\u00a0we have a track record and common values.\u00a0We\u00a0managed to\u00a0pay\u00a0off the\u00a0questionable\u00a0private lender and set a new 2-year term with an option to renew for a third year.<\/span>\u00a0<\/span><\/p>\n

    Also, since\u00a0Barbara\u00a0does not\u00a0necessarily earn a lot of money per month, we prepaid the first 2 years, so she\u00a0does not\u00a0have to worry about monthly payments.\u00a0This means\u00a0$0 per month on her loan for the next 24 months! Too\u00a0good to be true?\u00a0not at all,\u00a0<\/span>we made it happen!<\/span>\u00a0<\/span><\/p>\n

    Barbara\u00a0can\u00a0now take her time, in ease and comfort, put the building\u00a0up for sale\u00a0when she is ready\u00a0and then move into her chalet!<\/span>\u00a0<\/span><\/p>\n

    Another satisfied customer!<\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

    Barbara\u00a0lives in Longueuil. She is retired and owns 4 apartment\u00a0building,\u00a0which are\u00a0currently\u00a0rented.\u00a0She needs\u00a0extra liquidity to make\u00a0ends meet and\u00a0bring urgent repairs to …<\/span><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[76],"tags":[],"class_list":["post-5628","post","type-post","status-publish","format-standard","hentry","category-case-studies"],"acf":[],"yoast_head":"\nCase Study: Retiree Accesses Home Equity with Private Loan | Solutions Hypotheques<\/title>\n<meta name=\"description\" content=\"Case study: retiree accessing home equity through private refinancing solutions. 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