WHAT SHOULD I DO IF I AM FACING POWER OF SALE PROCEEDINGS?
If you are behind on your mortgage payments and facing a power of sale, you still have some options available to you. Often, lenders don’t want to resort to a Power of Sale – the process is time consuming and usually expensive, so lenders may be open to alternatives.
One option is to secure a mortgage loan from another lender (ie: new first mortgage or a second mortgage), which will allow you to pay off your original mortgage and arrears, or just bring the arrears current with a second mortgage. This may also allow you to spread out the remainder of your loan repayment over a longer period of time, and lower your.
HOW CAN WE HELP?
Our experts in the mortgage market proudly reside in Toronto. We approve our customers by observing the equity of their home(the value of your house compared to what’s owed against it). If other companies have turned you down, we will take a close look at your home equity to try to approve you ourselves!
FREE practical advice, friendly service, and a mortgage that best suits your needs and budget, Mortgage Genie does it’s best to better serve you.
Power of Sale proceedings shrivel up when we get to work on them!
We believe that good people experiencing financial troubles deserve another chance!
We promise to treat you with the respect and dignity you and your family deserve.
Call one of our friendly underwriters for a free 30-minute consultation and see how Mortgage Genie can help you.