Hi,
We have a townhome that is listed for sale. However, if we don't sell, we are wondering if we can still get approved for a mortgage while we own a home. We were told no, however, I also heard that if we get someone to rent for a two-year contract then that we will be able to get a second mortgage.
We searched a lot about this plan and one of our friends suggested about the mortgage lenders in ontario. He suggested to meet them for the renting purpose of the house. We don't have much idea regarding this service. Friends, do anyone has got any experiences /suggestions regarding this service? If yes, kindly share it.
Thank you!