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September 21st, 2024

Avoiding a power of sale is a priority for homeowners who are in financial trouble and having trouble making their mortgage payments. The power of sale and the less-used foreclosure are two processes where a lender sells the property when a mortgage defaults. If you find yourself in a challenging financial position, you can take […]

September 21st, 2024

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August 26th, 2024

Facing a Power of Sale can be overwhelming, but understanding the process and your options is key to saving your home. The process begins after a mortgage default, but homeowners have opportunities to stop it during the redemption period. With the right knowledge and support, it’s possible to regain control and protect your property.

August 26th, 2024

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August 20th, 2024

Experiencing a Power of Sale or foreclosure can significantly harm your credit score, leading to long-term financial challenges. Understanding the impact and taking proactive steps to rebuild your credit is essential for recovering from this setback.

August 20th, 2024

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August 13th, 2024

House repossession in Ontario often stems from mortgage defaults or breaches of agreement terms, leading to legal actions like power of sale or foreclosure. Understanding the warning signs and available options can help homeowners take steps to prevent losing their property.

August 13th, 2024

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August 1st, 2024

A notice of sale is issued to a borrower who has defaulted on their mortgage, outlining the total amount due and additional charges. This document is a key part of the power of sale process, which can lead to eviction and the sale of the property unless the borrower takes specific steps to address the default.

August 1st, 2024

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March 30th, 2021

If you are facing the threat of repossession of your property by your lender, it is imperative to try to take the necessary steps to prevent losing your home. Learn more

March 30th, 2021

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March 23rd, 2021

Lenders in Ontario will sometimes, although a rare occurrence, have to deal with mortgages that have fallen into default. When deciding which method will be used to deal with mortgage arrears the term often used is default management. Learn more

March 23rd, 2021

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March 19th, 2021

If an Ontario homeowner is facing a power of sale or foreclosure on their property, steps should be taken to stop the process from carrying out to completion and losing possession of the property. Learn more

March 19th, 2021

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February 25th, 2021

Eviction enforcement was halted in mid-January as part of an emergency declaration by the province to fight the second wave of COVID-19. During this time a stay-at-home order was also issued, restricting all outside travel for non-essential workers. Learn more

February 25th, 2021

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February 23rd, 2021

Despite the high costs associated with owning a home In Ontario, mortgage arrears are still very unusual. Out of the owned properties in the Province, 2,652 properties have fallen into arrears which represent less than 1% (0.11%) of properties where mortgage default has become an issue. Learn more

February 23rd, 2021

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