Joe Shalaby of E Mortgage Capital, his approach was quite refreshing.

I have not had a credit card for over 15 years, and I don’t like debt. However, I feel it is justified with an important investment such as a family home, or an investment property. I had some unpleasant experience with mortgage brokers, but I must say that Joe’s approach redeemed the industry in my eyes. It seems that his E Mortgage Capital team takes the high road and helping borrowers stay within their means. I was ready to commit to more debt than I can comfortably handle, and to help me understand the calculations and projections, which broadly back down to earth, as far as what level of debt I could realistically and sustainably service.

I’ve seen several heartbreaking situations where two friends, and even a close family member, could not handle the level of debt they incurred to buy the house of their dreams, which turned over time from “the American dream”, to three nightmare scenarios. Each one of these families was left “underwater”, where their equity was less than the debt, and they lost significant deposits when their banks foreclosed other properties. Be very careful if you sent a mortgage broker is just trying to close the deal, to get the commissions.  Wherever you are in the world, look for the telltale signs that I saw in Joe. If your mortgage broker pays careful attention to securing your family’s future, and ultimately her children’s inheritance, through prudent borrowing, then listen carefully to his or her advice. Don’t let emotions and excitement that come with the process of buying a new home, ruin your financial future.