Has your bank rejected you because of late or missed mortgage payments? Are you in a power of sale or facing foreclosure in Canada? Situations such as job loss and illness can cause people to fall behind quickly. Nobody plans to miss a mortgage payment but it can happen. Before you know it, you can find yourself behind several months’ payments. As a result, most mortgage lenders pursue legal action, putting your home in jeopardy.
A mortgage holder won’t tolerate much deviation from the contract you signed and missing mortgage payments is the least acceptable form of contract breach to them. No matter what your circumstances are or your reasons for missing mortgage payments, most major lenders won’t help people who fall behind.
Legal fees accumulate quickly when you fall too far behind with your mortgage payments. At this point, your mortgage company can attempt to force the sale of your home through a power of sale or a foreclosure proceeding.
Being turned away by a lender when you are struggling financially can be devastating but Turnedaway.ca can help if you are facing any of these issues:
The responsibility always falls on the borrower to catch their mortgage up or face the consequences. Fortunately, there are lenders who understand life’s struggles and are willing to help. Don’t leave things to chance. Use a mortgage broker who specializes in Foreclosures or Power of Sale.
Once you have mortgage arrears, it is difficult to find a lender who is willing to help you catch up. Especially since traditional big banks are not in the business of bailing clients out of a jam. If you are behind on your mortgage you will likely find that your mortgage lender wants little to do with you.
With this in mind, it is imperative that you act quickly. It is essential you find loans to stop foreclosure or loan modification to stop the power of sale. Working with a mortgage broker who specializes in loans to stop foreclosure is imperative if you want the bank to sell the property. Only a small percentage of mortgage brokers deal with mortgage debt. For this reason, you will need to find a mortgage broker who has access to a variety of lenders.
An experienced mortgage broker will have access to both institutional and private lenders who understand the foreclosure process. Their lenders will be willing to overlook a variety of challenges like a poor credit score or income challenges. An experienced broker will have lenders who approve deals based on the amount of equity in a borrower’s home and can help you avoid foreclosure, bringing your mortgage back into good standing.
Turnedaway.ca is a leading authority on Foreclosures and Power of Sale in Canada. One of the biggest challenges for homeowners facing foreclosure is their lack of understanding regarding the legal processes. Turnedaway.ca prides itself and takes great care to help clients understand what they are up against. We have been helping clients for decades and can overcome just about any challenge.
We understand that you won’t have a perfect credit report and may have income challenges and the lenders we work with understand too. Their primary concern is the real estate they are investing in. Ultimately, they want to know that you have a plan to get back on your feet. Turnedaway.ca can help you devise a strategy to do just that.
Whether you’re in Nova Scotia or British Columbia, Turnedaway.ca can help. Don’t let your home end up on the list of foreclosure properties or a Foreclosure Statistic. Call us toll-free at 1-855-668-3074 or Apply Online and let the experts at Turnedaway.ca help you get back on track.
We can’t thank you enough for all your help with our mortgage. We were skeptical about filling out an online application but we had tried several banks and due to our credit, couldn’t find anyone to help us. Getting a call within 15 minutes of submitting our application to go over the application put my mind at ease but my husband and I were both shocked to receive a call the same day with an approval. We are still amazed at everything you did considering how difficult the banks made our situation sound. Again, from the bottom of our hearts thank you so much!
Marilyn & Bob T, Whitby Ontario