Power of Sale Ontario

There are generally two types of people who are interested in information regarding power of sale Ontario properties. The first type is those whose home has been put into a power of sale in Ontario and the second type are those who would like to buy a power of sale in Ontario because of the house could have a potentially lower price.

Our business is to help people in the first situation and stop the Ontario power of sale proceedings on their home. Our mortgage brokers have access to private money lenders in Canada, and our brokers have years of experience in dealing with power of sales in Ontario. In most cases a traditional bank will not lend you the money to stop the Ontario power of sale process and the property owner does not have enough money to hire a lawyer to stop the power of sale Ontario. Our experienced team can quickly determine how to stop the power of sale Ontario process and get you back into your home.

Stop a Power of Sale in Ontario

To actually stop an Ontario power of sale you need a few things, a good mortgage broker, access to a private lender (also known as a hardmoney lender) and a lawyer familiar with the process. Our mortgage brokers, once all the proper paperwork is completed, can have you back in your home within a matter of days. We can also ensure that during the time period that you are not in possession of your home that all the contents will remain in place, if there are any animals within the home we can arrange for their removal and proper care until you have your home again.

Buying a Power of Sale Ontario Property

For people interested in buying a power of sale Ontario property thinking that this may be a cheap, quick and easy way to acquire some property, it’s time to think again. The reality is that the present property owner has the option to pay off any debts and reclaim their property at anytime during the entire Ontario power of sale process. If the property is sold for a “distressed” price or way below market value the original property owner can file a lawsuit against all parties involved in the power of sale transaction including the new property owner.

The Ontario Mortgage Act and the Land Titles Act have given the original property owner these rights to ensure that they are not taken advantage of by unscrupulous lawyers and real estate agents. All buyers of power of sale properties should exercise extreme caution and due diligence and if the Ontario power of sale price seems too good to pass on, be prepared for additional legal costs related to the sale because something shady might be happening.

For a private mortgage Canada that can stop the power of sale Ontario of your home, call us, we are fast and efficient and can reduce much of the stress related to the process.