During the recent financial slump, my brother lost his job at the time when he was paying for his son's college. My job remained at its place but there were incremental cuts for all employees. I was earning good income and my children were still in high school. The government was paying my brother a meager unemployment allowance and I could easily feel the difficulties and problems my brother was facing.
On the other hand, in the wake of recession, interest rates were being slashed and it was a nice time to go for mortgage. I applied for a mortgage loan and was finalized a deal for a apartment close to my workplace in the centre of the city. Albeit, I really wanted to buy my own house, I also wanted to help my brother in crisis. I know my brother and the fact that he would never ask me or any other person for lending him money for his son’s college fees.
I made my mind and transferred the college fees to his account without even telling to him beforehand. Later, when my brother got the notification from his bank, I couldn’t forget the sense of relief that I saw on his face that day. I was one happy person who helped his brother in difficult times and saved a child future too. However, that was the starting point of my very own worries. I was worried about that down-payment that I was supposed to pay to the mortgage company for the purchase of my home. On one side, there was my dream of buying own home was coming true and on the other hand I couldn’t let the future of my nephew go into waste.
During these tense situations, I met a very old friend of mine who used to be in college with me. He told me that he was working in a corporate tax planning montreal company, and a friend of him was providing a kind of loan to individuals and companies. I inquired him about the loans and discussed my situation with him. His answer came as a respite for my worries and he immediately processed my bridge loan. I was given the loan in a very short period and I was able to make the down-payment of my new home in the stipulated time. Soon, my brother found his job and he returned me my money from the signing bonus he received from his new job.