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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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February 22nd, 2021

There are times when Ontario homeowners may have fallen behind in monthly mortgage payments. Financial circumstances may change and the mortgage may fall into arrears.

February 22nd, 2021

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March 3rd, 2015

Bankruptcy is something that affects thousands of people in Ontario every year. Every few years the Ontario Superintendent of Bankruptcy releases a set of detailed statistics about bankruptcies in the province. Every year, about 44000 Ontarians find themselves in a bankruptcy situation. Many leading causes for bankruptcy are personal issues, such as divorce or health […]

March 3rd, 2015

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