Mortgage Calculator and Fiduciary Duty in the Canadian Mortgage. Mortgage loan
Mortgage Calculator and Fiduciary Duty in the Canadian Mortgage video duration 5 Minute(s) 45 Second(s), published by Lew MacDonald on 04 12 2013 - 01:05:14.
http://www.LewMacDonald.com Armed with a Mortgage Calculator, Kelowna BC Mortgage Broker Lew MacDonald broker owner of Verico Tailor Made mortgage rates, compare mortgage rates, compare interest rates, chicago mortgage rates, hotratequote, 30 year fixed, 15 year fixed, fixed rate mortgage, .
Do you know the real differences between a 15 and a 30 year mortgage? Which one should someone choose if they are moving in 5 years anyway? Doesn't . mortgage calculator mortgage mortgage rates interest rates loan calculator mortgage payment calculator home loan mortgage rates today loans mortgage .
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Armed with a Mortgage Calculator, Kelowna BC Mortgage Broker Lew MacDonald broker owner of Verico Tailor Made Mortgages, cuts through the latest tactic of the Canadian Banks in their quest to extract your money and fulfill their fiduciary duty to their share holders.
Surprisingly, even the mobile mortgage reps at TD, CIBC, RBC (Royal Bank), Bank of Montreal (BMO) Scotia and a myriad of other banks and credit unions are actually bank employees and are bound by law to make you pay as much as possible while retaining the business for their employer.
In this example, fiduciary duty is an important part of the process and you should know right up front. Who is looking out for you?
If you are dealing direct, then the only person looking out for you is YOU!
In most cases, a mortgage broker's services are free to you and they are bound by law to protect your interests.
Fiduciary Duty?
What is it and how does it relate to your mortgage?
Hi, my name is Lew MacDonald and I am the broker owner of Verico Tailor Made Mortgages in Kelowna British Columbia.
I received a phone call yesterday and the person on the other end told me that her friend
was a client of mine and suggested that I call.
Her mortgage was up for renewal and they had offered her a five year term at 2.69%.
For the first 9 months.
And then 4.45% for the balance.
And this is where fiduciary duty plays a role.
What is fiduciary Duty?
The bank, all banks and their employees have a duty to maximize profits for their share holders and it appears the newest tactic to do this is by using confusing rate scenarios.
The question I asked myself with this situation is \
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