Mortgage arrears, Property tax sale notice, 487 beacon – refinance funded under 6% rate

Request: Divorced applicant looking to refinance a small community SFD to consolidate existing credit union mortgage, outstanding property tax, all consumer debt that was all in a derogatory state and pocket some breathing room cash, all into a new 1st mortgage. Goal was to remove arrears and collection calls and lower total payments.

Challenge: 3 years of property taxes were outstanding with a property tax sale notice registered on title. Existing mortgage was 3 payments in arrears. All consumer debt was actively in arrears or charged off. Beacon UNDER 500. Income from various sources from a part time job, support payments and side cash BFS entity with no government documents to verify.


  • DLC owner referred request and application to Plan B on Wed December 19th.
  • Best approval was located and committed on Thurs December 20th
  • Approval was presented to client and signed back on Friday December 21st
  • File funded without hitch in early January 2013.
  • File was approved with a 1 year term @ 5.99 and 2% lender fee
  • Client was thrilled to remove the mortgage arrears stress and relieved to have her house removed from the tax sale notice.
  • New payments were approx. the exact same size as the existing credit mortgage payments
  • Referring broker has amazed client for life and received 65bps commission which was 15bps higher than if did the deal themselves.