Oshawa Foreclosures and Power of Sales – Stopped
If your property is about to be Foreclosed on or your are in Power of Sale, we may be able to help you. The best way to stop a foreclosure is to pay the mortgage holder the full amount of the mortgage, partial payments are usually not accepted. In most cases the home owner must get a new mortgage to pay out the existing mortgage. As you are probably already aware the longer you take to stop the foreclosure the more expensive the legal fees will be. We therefore suggest you contact us as soon as possible to limit the legal costs.
Help and Advice to Stop a Power of Sale or Foreclosure
This is where our mortgage agents can help you. Our agents have extensive knowledge regarding power of sales and foreclosures in Oshawa. We are very familiar with the legal process and can quickly determine where you are in the foreclosure process. We can refer you to a lawyer that specializes in stopping foreclosures and power of sales.
There are a number of different legal documents that a homeowner could receive. The first document is the Notice of Default which asks the borrower to pay any outstanding amounts. The next document is the Notice of Sale which informs the homeowner that the power of sale process has started, then comes the Statement of Claim demanding a certain amount of money be paid by an exact date. If the amounts are not paid then a Writ of Possession will be issued followed by the Eviction Notice.
If you have received an eviction notice please call us immediately. Any delay could result in you being thrown out of your home. You could also lose all the equity in your home. As a last resort we can help you sell your home. This can preserve your equity and keep the legal costs much lower.
When you contact us please have any legal documents sent by the lender or its lawyer available.