Wondering how to buy a home after foreclosure? According to the statistics, over 1 in 8 adult Canadians will at some point experience devastated credit, whether from foreclosure, a bankruptcy, or a negotiated debt settlement. Most of them will want to buy a home and get a mortgage some day, but for many of them they will discover their options are fairly limited. After the credit crisis, the amount of funding available for high-risk mortgages shrank considerably. More than a dozen subprime lenders in Canada ended up closing their doors. Today, the riskier class of home buyers — those with – – Read More..
Foreclosures are an intimidating process. Many homeowners end up acting like “deer in the headlights” when the dreaded envelope appears in their mailbox. Unfortunately, this isn’t just an ineffective strategy for preventing foreclosure, it often makes them worse. The fact is that foreclosure processes, while they can involve a great…
Yes, You Can Stop Foreclosure Now If your home is about to go into foreclosure, you should be aware of a few things which might make it possible to prevent your home from being taken away from you. In fact, stopping a foreclosure isn’t just a matter of saving your house. It’s also about helping keep your financial future secure. Here’s what many homeowners forget when the dreaded envelope is dropped into the mailbox: it is not merely a question of avoiding the pain and embarrassment of being forced out of your house by the local sheriff. It’s also a – – Read More..
How to stop foreclosure at the last minute? If you are looking for ways to stop foreclosure immediately as time is running out, which method is right for you depends on exactly how “last minute” it actually is. But, not to worry, you can Stop Foreclosure Quick. Your options essentially come down to…
What most homeowners facing the loss of their homes don’t realize is that they can refinance to stop foreclosure. Stopping the foreclosure process is often as easy as paying off the lender — and paying off the lender is easier than many homeowners may think. Home Refinancing To Avoid Foreclosure The easiest way to stop a foreclosure is often to find someone else who is willing to write a mortgage on the home, then take that money and go to the original lender. The original lender harbours no animosity towards the homeowner. They simply want to recoup the money they – – Read More..
If you’re facing foreclosure, an effective way of putting a halt to the problem is by getting loans to stop foreclosure. The reason is that foreclosures are extremely damaging to your credit score, not to mention the stress and hassle of being forced to move out of your home. However many homeowners facing foreclosure do not believe that they are eligible for the loans they need to save their homes. What can you do? It turns out your chances are better than you may think. Let’s look at the options. Loans to Prevent Foreclosure Traditional loans stop foreclosure effectively — – – Read More..
How can you avoid foreclosure on your mortgage? It may be easier than you think. Both lenders and courts would prefer to avoid seeing you forced out of your home by the law: for them, this is the most expensive and inconvenient solution. As a result you have a surprising amount of leeway to stop foreclosure — and we’ve put together some convenient tips for avoiding foreclosure to help you. Save Your Home Tips Avoid Foreclosure 1. Negotiate With Your Lender If the foreclosure process has not yet moved to the court system, you can often negotiate an alternative payment – – Read More..
When there is a foreclosure in Canada, the rules can seem fairly complex — but if you are a homeowner, it’s vitally important to understand when and how you need to defend yourself. Many homeowners believe foreclosure means automatically losing the house, but this isn’t always true. What happens when you go into foreclosure depends on a number of different factors, such as your financial situation and whether you decide to defend yourself and your home against foreclosure. Of course if you do nothing, you are nearly guaranteed to lose the home and have a serious stain on your credit. – – Read More..