Once the mortgage is in place you can spend it on whatever you want, a new car, a vacation, repairs or a property in the USA.I know this is not exactly the answer to your question, but if you have equity in a Canadian property you can get the funds.

Welcome, @Cara Davis, to the BP community!

NO, but doing so is facilitating a sale, two means of getting to the same place, a listing as a car, a sale contract as a truck, it's not what you drive to get there, it's if you get there."

Opening the building I find an older model car as well as a bunch of boxes of property.

It's called responsibility and people in this country have a hard time figuring out that once you sign for something, a car, a house, a loan, it's your's - not someone else's! 

I pay for MLS thru CAR as well as yearly membership.  

They must already have a buyer.They already have most of the house finish an a car as collateralWhat do you think

Also take into account the toll roads between work and where you will live and get that transponder on your car as forgetting to pay the toll through the website will be a $200 fee

I'm trying to open up this discussion in terms of both good and bad...After speaking with a few people and lenders on acquiring money for a down payment on a multifamily property, a secured personal loan came up as an alternative to coming up with enough money for part of the down payment (oh, say $10,000).That means:> Secured personal loan (putting a lien on a car as collateral) worth $10,000 at terms of 4.25% APR over 5 years. - Total Down: $20,000> A mortgage for $102,000 @ 5% over 30 years , meaning a monthly PITI of about $800> 2 Duplexes (4-plex) with total monthly income of $2,400 *these numbers are somewhat irrelevant to the question, but is just an attempt at giving real world data*The question is: with the acquisition of another mortgage, what are the upsides and downsides of acquiring a secured personal loan as well?

@Cara Abbaticchio, It might be a good idea to just amend the current lease.