The Donald, You've Been Trumped & Why You Should Use a Mortgage Broker

October 16, 2011

This past Spring I attended the Hot Docs film festival with my friend and real estate colleague Mark Savel of fame. We watched a great film by British film director Anthony Baxter entitled “You’ve Been Trumped”. The film documents the David vs. Goliath like struggle of a local small town Scottish community attempting to save a scientifically unique and beautiful spot of coastal sand dunes from Trump’s plan for a monolithic golf course.

I have never had much admiration for Mr. Trump, I can’t align my views on business, wealth or success with his and this film certainly didn’t do him any favours.  So it is completely ironic that I should rely on him to help me promote my business.
I had heard rumours that in his book Trump: Think Like A Billionaire, Mr. Trump does an admirable job of selling the services of a mortgage broker. I recently decided to search for myself and low and behold I found one of the most sincere and useful explanations as to why a borrower should use a mortgage broker. I quote Donald:

A good way to get a mortgage is to pass the buck to somebody else. Shopping around and comparing mortgages can be time-consuming, so it may save you time to pay someone to do your shopping for you. (Note: in Canada you generally don’t pay for the services of a mortgage broker) Get a mortgage broker, but get a good one. These people are engaged daily in the world of mortgages, which means that they have to know where to get the best rates, who is offering the best conditions, and generally, where it’s advantageous to apply.
In the long run, you will probably pay less for everything if you get a good mortgage broker, since the broker will know what kind of hidden charges there are and steer you clear of various problems[…]
Ask you real estate broker to recommend a mortgage broker, or get a referral from friends, colleagues, and neighbours who have recently taken on mortgages. Like your real estate broker or your lawyer, the mortgage broker should be someone you feel comfortable working with – and someone you know whill not sideline your best interests in favor of their own financial considerations.

The Donald’s quote is perfect and hits on all the highlights of the advantages of using a good mortgage broker. So thank you Mr. Trump, I still don’t know about all the other stuff but I guess you are alright.
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Christopher Molder

Mortgage Broker

Christopher is a mortgage broker based in Toronto, Canada. And a son of a broker too. He’s a second generation mortgage broker. Following in his father’s steps he joined the family mortgage business straight out of university.