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Why Avoiding Communication With Your Lender Makes Things Worse
Read more about Why Avoiding Communication With Your Lender Makes Things WorseWhen money gets tight, many homeowners panic and believe the best move is to ghost their lenders. They ignore calls, toss letters, or leave emails unopened. But staying silent usually makes things way worse. It speeds up legal procedures, such as power of sale, which is essentially when the lender sells the home under mortgage…
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Can You Get a Loan While in Arrears? What Ontario Homeowners Should Know
Read more about Can You Get a Loan While in Arrears? What Ontario Homeowners Should KnowMortgage arrears don’t just appear overnight. Maybe you lost your job. Perhaps an unexpected expense drained your savings. Or maybe the payments just got out of hand. Now you’re getting notices from the lender, and the threat of power of sale feels more real by the day. If you’re in Ontario and behind on your…
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How to Read a Mortgage Default Letter in Ontario
Read more about How to Read a Mortgage Default Letter in OntarioGetting a mortgage default letter isn’t very fun for any homeowner in Ontario. It leaves them unsure on how to proceed. The letter informs a borrower (them) that the lender considers them to be in breach of the mortgage contract due to failure to pay an instalment or for any other contractual violation. The letter…
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