Newmarket, ON -- (SBWIRE) -- 11/01/2016 -- The Newmarket Mortgage Services have developed a group of private mortgage lenders to service the people in Newmarket. The aims of the lender network are to help homeowners with poor credit, facing power of sale or foreclosure, or require a second mortgage.

These private lenders are very familiar with the Newmarket real estate market, and can deal with clients that have been turned away by banks. Private lenders will compete with each other for business, and offer low rates for bad credit mortgages and second mortgages. The staff at Newmarket Mortgage Services can explain the possible solutions available for clients and help them decide which solution is best for their unique situation.

The mortgage application can be approved right away even if clients have been turned away by banks because of bad credit. Private lenders, unlike the major Canadian banks, lend on home equity and not credit.

The new private mortgage lender networks allow people to get better rates and faster financing.  Private lenders can help homeowners reduce their monthly payments by refinancing their debt into one low cost mortgage. The knowledge of the team at Newmarket Mortgage Services can cater to the every individual's unique mortgage needs.

Both commercial and residential mortgages are provided at the best and most affordable rates. In terms of how private lenders can "stop power of sale" & "foreclosure" and provide "second mortgages", a time-sensitive procedure is followed. However, homeowners are required to act fast to further protect their properties. Documents related to the power of sale, also need to be kept such as statement of claim, eviction notice, writ of possession and notice of default. The company's team can help clients avoid paying for charges and penalties. The documents mentioned are also exactly the same when one seeks to stop foreclosures.

In regard with second mortgages, these are offered by private mortgage lenders and are the solution for their clients financing needs. Clients can take out a first, second or third mortgage on their property. Clients are able to borrow as much as they like against their property as long as they have enough equity in the property. The company's staff can help homeowners determine the maximum amount of money the homeowner may borrow.

Ron Alphonso is the principal broker at Newmarket Mortgage Services. Ron has been dealing with mortgages and private lenders in Ontario for over 10 years. He has been featured in several publications such as, Toronto Star and Toronto life for his insights on the mortgage industry.

To know more about Newmarket Mortgage Services, email them at info@newmarketmortgageservices.ca.