Power of Sale Mortgage Refinancing in the GTA

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GTA, Ajax, Pickering, Oshawa Power of sale mortgage refinancing

Attention GTA Homeowners going through a Power of Sale. We can help get you through this.

If you live in Ontario have fallen behind on your mortgage payments and have been unable to make any payments for more than two months, your bank or lending institution may give notice of its intentions to exercise a Power of Sale. This process allows the lender to sell your home or property, using legal court proceedings, as a way of rectifying a default by the borrower. In other words, they will take action to recoup their funds.

In the mortgage contract, a clause is generally included that authorizes the lender to sell the property if the borrower defaults on the payments and/or breaches the terms of the contract. Once the lender has issued a Statement of Claim, registered with the courts, the borrower usually has four to six weeks to remit the missed payments and negate the mortgage default and the Power of Sale.

We are knowledgeable and skilled in arranging the financing and refinancing that is needed to pay off your arrears and help get your finances back on track to nullify the Power of Sale. Fill out the form above and we will contact you back as soon as we can.

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