Can gold be taken as asset for a home mortgage/loan?
This is a query I'm putting forward for my friend who has to undergo a downfall in his life after the Fort McMurray fire. He lost his home and business and he is now moved to our home town in ON. He is now with his sisters but he wants to get a job and also needs to buy a small house here in the neighborhood. He has only got some gold to show as asset against a mortgage/loan application. Can gold do the job? We have Butler Mortgage (www.butlermortgage.ca) in our area, but not sure they handle gold. Anyone with the experience of handling such scenario, I mean the gold against a mortgage, as asset?
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