If you ever want to stop a Bradford power of sale and foreclosure, it would be wise to learn about the legal options available. Our professionals have many years of experience in stopping power of sale and foreclosures. We explain all the possibilities and even help our clients make the best decision for their situation. Learn how to stop Power of Sale and Foreclosure in Bradford.
This is an urban area in Ontario, overlooking The Holland marsh, a farming region on the Holland River. The river was named after the first surveyor general of British North America – Samuel Holland, who went through when on one of his explorations. Three Irishmen were the first settlers you cross the Holland River in 1819 but the pioneers to Bradford and areas close to it were mainly Irish protestants. A few years after the Northern Railway of Canada was built, Bradford was declared a town with about 1000 residents. Village Inn Hotel is an important landmark in Bradford and it is still operational today, since the 1900’s.
The hotel has survived two fires and was once hit by a crane but it has since been remodeled. Statistics in 2006 census indicated that there were 24,039 residents in the local census unit of Bradford West Gwillimbury. There are different cultures represented here by British, Portuguese, German and Hungarian people. Most of the people in the urban area are of European descent. On the intersection of County Road 4 and 8, is Bradford’s downtown core. Public transit is a new and very limited concept in the town with 2 bus lines running across town during the day.
The process of power of sale or foreclosure may begin as soon as a loan has defaulted for more than 15 days. The lender triggers action by sending a Notice of Sale Under Mortgage, alerting the borrower to pay up in 35 days or less. If this does not happen, the homeowner will get a Statement of Claim which is a document indicating all the many charges to accompany mortgage settlement.
If you can’t pay the mortgage and fees on time, there will be a writ of possession issued, before the lender requests to evict you. The eviction is necessary as it paves way for the sale of your home so the lender may recover their investment. The power of sale only allows the lenders to sell your home for their money but it doesn’t give them the title to it. This means you are entitled to any change from the sale but that isn’t much after legal and other fees.
When lenders use power of sale and foreclosure on your property, it is important to consider your options. You can sell or take a second mortgage for cash, but only if you have sufficient equity in the home. If you have more debts than the home’s value, it would be good to get expert help. Bradford residents with average equity should seek our specialists’ help if facing foreclosure.
Bradford lacks a special database for foreclosure and power of sale homes, making them difficult to find. Sellers aren’t required to disclose property details, making it harder for buyers. Power of sale and foreclosure properties can be profitable if handled correctly. Many who didn’t follow regulations lost their money. Our professionals can help you avoid common mistakes and even point you to the homes you seek. We help buyers find the best homes at the lowest price and sellers maximize profits before banks act.
The legal costs and fees for homes in this state are often high and unpredictable. In addition, potential buyers must meet several terms and conditions. The “AS IS” and “limited ability to inspect” conditions are not always favourable to the buyer looking for foreclosure homes. Using a good lawyer is advisable for all power of sale and foreclosure deals.
Need Power of Sale advice? Speak with us, and we’ll connect you directly with a Power of Sale lawyer you need. We have you covered. Call 416-499-2122 or email ron@mortgagebrokerstore.com and gain expert advice!
