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Ottawa Power of Sales and Foreclosures

Ottawa is the capital city of Canada and 4th biggest city in Canada. Ottawa is on the south part of the Ottawa River in South Ontario. The city is on the border of Gatineau, Quebec. The city was founded in 1826 as Bytown. It was renamed Ottawa in 1855 and developed into a technological and political center of Canada. While Ottawa was originally small it expanded with annexations and major amalgamation in 2001. The city’s name comes from the native word adawe which means “to trade”. The city was originally a French and Irish Christian settlement. Ottawa is now a diverse and multicultural city. According to the 2011 census the city’s population is 883,391. The city is ranked as having the 2nd highest quality of life of any large North American city. It the also ranked as the 2nd cleanest city in Canada and 3rd in the world. MoneySense has ranked it as the best Canadian community for 3 years.

 

ottawa

For information on Ottawa from the city’s official website, please click here.

 

When the  property owner has skipped a payment or violated any of the terms of the mortgage a lender in Ottawa may begin power of sale proceedings. When the default has gone longer fifteen days the lender can send a “notice of default” to the property owner. The home owner then has another 30 days to fix the default. After the 30 days a “statement of claim” can be given to the home owner. The claim should contain a report of all costs related to the mortgage and the full amount that is required to pay off the mortgage.

Call our agents for info on an Ottawa power of sale or foreclosure, we may be able to end the power of sale, and save your money and home.

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