Got a phone call from banker, she told me the mortgage got approved. This mortgage has been in the hands of the approval officer's hands for a while. He asked for all and everything: tax return, rent roll, current mortgages, properties record across the border. When everything is positive, he accused of my banker why she even took such an application, she should not have started in the first place. At the end, he ordered a full appraisal, which costs a thousand dollars.

All this for a mortgage less than $30K!

And I was told, no more mortgages in this town. My banker said, next time, she can probably think something else, like a personal line of credit, which is not a bad idea. She worked really hard on this one, I really thank her.

According to my plan, I need to buy three more in this town. Beside personal line of credit, I may need to go to a mortgage broker to find out other lenders.