A wise mortgage broker friend of mine once told me there is no such thing as a mortgage emergency.

I’ve thought about my friend’s statement over the years. I think what constitutes a mortgage emergency really depends which end of the transaction you are on.

One situation I run into regularly is clients who have left dealing with their mortgage renewal until the very end. That doesn’t necessarily constitute a emergency if they are not planning to make any changes to the mortgage and they intend to stay with the same lender. However, if they are in a private mortgage that was intended to be a short-term solution, leaving........

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