-
Private vs. Traditional Lenders: Which Is Better When Facing Power of Sale?
Read more about Private vs. Traditional Lenders: Which Is Better When Facing Power of Sale?Power of sale notices can be stressful for any homeowner, especially those living in Ontario. It could be deciding whether to save your home or lose it to your lender, who will sell it if you miss mortgage payments. In these urgent circumstances, homeowners consider two options to finance: traditional banks and private lenders. Whichever…
-
Using a Second Mortgage to Stop a Power of Sale: Pros and Cons
Read more about Using a Second Mortgage to Stop a Power of Sale: Pros and ConsPower of Sale notices can cause panic. All Ontario homeowners going through this troubling time must be informed of their options so they may save their property. One option is getting a second mortgage. Depending on the amount of equity held in the home, a second mortgage quickly brings money, potentially stopping the power of…
-
How to Respond to a Statement of Claim in Ontario
Read more about How to Respond to a Statement of Claim in OntarioGetting a Statement of Claim in Ontario can be scary and tense, mainly as it deals with your house. Yet, knowing what this means, why it came to you, and how to answer right will keep your rights safe and make things much better. Ignoring this key document can lead to severe consequences, such as…
-
Behind on Your Mortgage? Here’s How Judgment for Possession Happens
Read more about Behind on Your Mortgage? Here’s How Judgment for Possession HappensThere is a sinking feeling whenever someone misses a loan payment, which can escalate to a massive problem if unattended. An initial warning may be given, and your expenses will pile up. However, if you continue on this trajectory, as the worst-case scenario, the court might enter a ruling allowing the lender to take away…
-
Can You Sell Your Home During a Power of Sale? Here’s What You Need to Know
Read more about Can You Sell Your Home During a Power of Sale? Here’s What You Need to KnowWhen you receive a power of sale notice, it can be a daunting feeling, casting a dark cloud over your future and home. At this point, a big question may arise: can you sell your home before the lender steps in? Luckily, the answer is often yes. Knowing how this works, what time you have,…
-
How to Respond to a Statement of Claim in Ontario
Read more about How to Respond to a Statement of Claim in OntarioGetting a Statement of Claim in Ontario can be scary and tense, mainly as it deals with your house. Yet, knowing what this means, why it came to you, and how to answer right will keep your rights safe and make things much better. Ignoring this key document can lead to severe consequences, such as…
-
What Are My Rights If I Am Served With a Power of Sale Notice in Ontario?
Read more about What Are My Rights If I Am Served With a Power of Sale Notice in Ontario?Getting a power of sale notice in Ontario is serious. It occurs when a homeowner defaults on mortgage payments, and their lender initiates a proceeding to sell the property to recover the outstanding debt. Receiving this notice will require you to exercise your rights and take advantage of the options available to you under Ontario…
-
What Happens When You Can’t Afford Your Mortgage in Ontario?
Read more about What Happens When You Can’t Afford Your Mortgage in Ontario?Managing a mortgage can seem like an impossible challenge in Ontario. When interest rates rapidly fluctuate while prices remain high, it can be hard to bounce back when your mortgage payments stagnate. However, homeowners have time to intervene and correct the problem before it snowballs. If you are honest with your lender about your financial…
-
Can Power of Sale Affect Your Mortgage Approval?
Read more about Can Power of Sale Affect Your Mortgage Approval?Facing a Power of Sale is a serious situation for homeowners in Ontario. It happens when a borrower defaults on the mortgage, and the lender sells the property to recover outstanding debts. While the Power of Sale mainly concerns a housing crisis, it affects other facets of a homeowner’s financial health. One major downside is…
-
Distressed Homes: How Buying One Can Save You Big Bucks
Read more about Distressed Homes: How Buying One Can Save You Big BucksIn today’s real estate market, finding an affordable property with value can be considered an uphill task. Having been given better choices, investors and buyers opt for distressed properties. A distressed property means it’s in financial distress, foreclosed, or under a power of sale. The heavily discounted price makes them an excellent opportunity for building…
Free Advice
416-499-2122
