Our staff can help stop a power of sale or foreclosure of your house or property. Our mortgage agents are can inform you of the various options that are available to you. Our agents have access to private money lenders in Canada. They also have years of experience in stopping power of sales in Ontario. In most cases a traditional bank will not lend money to stop the power of sale process. In addition the property owner does not have enough money to hire a lawyer to stop the power of sale. Our experienced team can quickly determine how to stop the power of sale in Toronto, Ontario and get you back into your home. We can also refer you to lawyers that can provide legal advice.
A “Writ of Possession” is issued by the court on behalf of the mortgage lender. This is then sent to the local sheriff who will then issue an “Eviction Notice” to the home owner. An “Eviction Notice” is legally enforceable and the homeowner is required to leave the property at the time stated on the notice.
To actually stop an power of sale in Ontario 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.
Many people are interested in buying a power of sale in Ontario property. They think that this may be a cheap, quick and easy way to acquire some property, well it’s time to think again. The reality is that the present property owner has the option to pay off the debt at any time. The person who tried to buy the property could be left with legal bills and no property.
The Ontario Mortgage Act and the Land Titles Act has given the property owner these rights to ensure that they are not taken advantage of by unscrupulous people. All buyers of power of sales in Ontario should exercise caution and due diligence. If the price seems too good to pass on, get legal advice.
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.