Know Your Rights When Investing In A Mortgage
by: News Canada
(NC)-Investing money in a private mortgage for attractive returns has its merits and its risks. This type of investment is one in which a person lends money to a borrower who pledges real estate as security for the loan. These types of mortgage investments may be arranged through a Mortgage Broker.
All Mortgage Brokers in the province of Ontario are required to be registered with the Financial Services Commission of Ontario (FSCO), an agency of the Ministry of Finance.
Do business only with a licensed Mortgage Broker. Confirm that the broker you are dealing with is qualified and registered by visiting FSCO’s website: www.fsco.gov.on.ca, or by calling (416) 226-7776.
Mortgage Brokers must give you full information