Foreclosure / Power of Sale Explained

For most homeowners, the terms of “foreclosure” and “power of sale” are words that they never want to hear – because they mean that their home mortgage has gone into default, and the bank has started to take action against them. Over the course of life, things happen to us that we don’t expect – illness, job loss, divorce – and they can impact our financial situation in significant ways. If you’re falling behind on your home loan, the best thing you can do right now is reach out to your bank, explain the situation, and figure out a way to move forward without default.

Foreclosure / Power of Sale Articles

We’ve put together a set of articles for you to read about the entire process – not only how you can avoid foreclosure or power of sale, but what to do if the process is already underway. Many customers have sent inquiries our way, which we have assembled into a FAQ page down at the bottom here. We’re available by phone, live chat and email if you want to find out about how your personal situation could change for the better, and we also have an online application for you to fill out to see if you would pre-qualify for some creative financing solutions that could make a huge difference for you.

Rent to Own Overview & the IPR Agreement

A “rent to own / lease to own”, agreement is exactly what it sounds like – a tenant lives in a dwelling and starts paying rent on it – but at a predetermined point in time he will have the option to purchase that property at a previously agreed price. Other terms that describe this ...
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Foreclosure Due to Property Taxes or High-Interest Mortgage

How to Get Out of a High-Interest Mortgage or Foreclosure There are few financial situations that cause as much stress as falling behind on your mortgage or your property taxes. After all, your home is your source of shelter, and feeling like you are going to lose it is extremely unsettling. If you are either ...
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Foreclosure Litigation Guide

The Cost of Mortgage Foreclosure Litigation Foreclosure litigation is a legal brier patch that can lead to the loss of your home, even if you prevail in court. Here's the reason: the lawyer that you hire may end up being so expensive that you lose your home when paying your fees. Here's how it works ...
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What Is Quit Claim Deed

If you take a look at the words inside the question "What Is a Quit Claim Deed?" then it becomes easy to figure out what it means. The person filing the quit claim (known as the grantor) is transferring the deed to a property to a different person or to an estate (known as the ...
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Who is responsible for property taxes on a foreclosure

When a home goes into foreclosure, financial chaos is about to ensue, particularly with regard to bills that go unpaid. It's true that foreclosure eliminates mortgage debt from your credit report, but any existing foreclosure property tax bills (both past and present) remain. The taxes are due to the local level of government no matter ...
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How Many Lawyers Are Involved in a Foreclosure?

There are few financial situations that can be as damaging to one’s economic future as foreclosure. While the dream of home ownership is a powerful and exciting one, the fear of foreclosure is just as strong, because it takes that dream that a person or family has accomplished away from them – and almost certainly ...
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Rent to Own Refinance in Canada

If you are looking for a flexible option for staying in a house when you have lost control of mortgage payments, received a demand notice from your lender, facing potential foreclosure, or you are within your redemption period after a Statement of Claim has been issued, then a Rent-to-Own Refinance may make a lot of ...
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Taking Foreclosure Prevention Measures – A Tale of Two Toms

When Facing Foreclosure, Private Lending Options are available if handled correctly, provided there is adequate equity in the property: During financial hardship, there are generally 2 paths you can take to meet your mortgage commitments. First and foremost, if the property is in satisfactory condition and there is more than 25% equity, you will likely have ...
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Understanding The Foreclosure Process in Canada

For the homeowner, foreclosure is one of the most stressful experiences that you can go through. The largest investment you are ever likely to make is in your home, and the mortgage payment likely represents the largest chunk of your monthly budget. If you have been laid off or missed one payment and are about ...
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About Foreclosure

What You Need to Know about Foreclosure One of the scariest experiences that any homeowner can endure is the possibility of foreclosure. If you don’t pay your credit card bills, the lender won’t let you use the card anymore. While your credit score will suffer, it’s nothing like being kicked out of your own home ...
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Understanding IPR Agreements: FAQ

When it comes to setting up IPR agreements, there are several common questions that we get from our clients. We’ve put together this page to help clients find basic information as they start exploring the process. If you have other questions, reach out to our mortgage specialists so that we can help you with your ...
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Daniel K. Akowuah | Mortgage Professional / DLG Underwriter
Toll Free: 1(877)756-1119 | PH:1(780)756-1119 | FX:1(877)238-7794
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