If you want to stop a Brant foreclosure and power of sale, it is important that you understand all the legal options. Our Brant staff have years of experience stopping power of sales and foreclosures. We can discuss your options to ensure you make the choice most ideal for your circumstances. Learn how to stop Power of Sale and Foreclosure in Brant.
Brant is a single-tier municipality in Ontario with service offices in St. George, Paris and Buford. This is a mainly rural municipality bordered by Hamilton City, Waterloo and Norfolk County. Brant census division had 134,808 people as of the 2016 census. There are smaller communities in Brant, including Maple, Fairfield, Gobles and Onondaga, among others. Gypsum was discovered in Brant in 1793 in what is now Paris. Manufacturing began in the early years of foreign settlement to modern-day Brant.
Industries were powered by the river, and the city was a major exporter of plaster. Brant was incorporated as a town in the year 1856. Alexander Graham Bell is probably still one of the most recognizable names who once called this area home. Most people in the county speak English, but there is a visible First Nations and Métis minority population.
A power of sale and foreclosure may begin as soon as a loan has defaulted for more than 15 days. It starts with a letter in the mail sent to the homeowner. With the Notice of Sale Under Mortgage you should pay listed fees within 35 days to bring the loan back to good standing. If unpaid, the lender shall issue a Statement of Claim which lists all the many fees accompanying mortgage settlement.
Mortgage fees, legal fees and land rates due are some of the fees in the statement of claim. You should pay these on time to avoid Writ of Possession. This is followed by a request to evict the homeowner so that lenders can sell the house and get back their investment. In this case, the property owner gets any change remaining from the sale of a home as they still hold the title to property. For a foreclosure, the lender can take the title, owning the home and any equity that remains.
When banks decide to take these actions, the homeowner has options. With enough equity, you can sell or take a second mortgage. If the debts exceed the home’s value, you should consult with our specialists for the best recourse. Most people in Brant have average equity, meaning that they should always seek help from our experts.
Finding foreclosure homes for sale in Brant isn’t easy as there isn’t a general database for them, nor is there a requirement to state this fact when selling. Our experts have been in business for many years, therefore helping clients avoid costly mistakes and even showing you recent foreclosure and power of sale listings. Our goal is to ensure buyers get foreclosure homes for the lowest price and that sellers make the most money from their homes before the banks come calling. If you wish to buy power of sale and foreclosure property, it is highly recommended that you use expert help.
There are high legal fees and costs for power of sale and foreclosure deals, which are often unpredictable. The buyer must also meet several terms and conditions with the deal including limited ability to inspect and “AS IS” condition. These are not always favourable to the buyer, who always needs a lawyer for such deals. These experts will not only help you navigate the rules, terms and conditions, but they will also point you to the best deal.
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!
