Stop A Power of Sale in Ontario
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Foreclosure? Stop a Power of Sale!

Don’t stress over losing your home. Let the experts help with Foreclosure.

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Let the experts help. Stop the foreclosure process and keep your property.

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DebtCare Canada helps homeowners from foreclosure and helps them keep their properties. If you’ve behind on mortgage payments or owe mortgage arrears, we have the knowledge to STOP Power of Sale proceedings.

We have helped clients save their houses all across Ontario. If you’re facing home foreclosure in Ontario or a Power of Sale in Toronto, DebtCare can help you save your home and stop the Power of Sale process.

What is Power of Sale? If a borrower fails to make payments on their mortgage, the lender has the right to start a Power of Sale process. A Power of Sale can also result when a home owner has unpaid property taxes, fails to maintain property insurance, uses their property for illegal purposes or fails to maintain their property in adequate condition. A Power of Sale can lead to residents binge evicted. Their homes will be sold to pay back the mortgage lender.

Stopping a Power of Sale is possible if you act fast and get assistance from the right people. At DebtCare Canada, we use our expertise and knowledge to help home owners in power of sale by finding them a workable solution. We’ve helped stop Power of Sale proceedings in cities all over Ontario from Toronto to Mississauga, Brampton, Hamilton, Barrie, Windsor, London and Oshawa.

Here are the order of events during a Power of Sale proceeding:

  1. Contacting the Borrower: Contacting the borrower in writing is the first step in a Power of Sale proceeding. This process alerts the borrower they are in default and provides a chance to fix the problem.
  2. Notice of Sale: If not resolved and only after 15 days of defaulted payment, a registered letter will be delivered from the lender advising of the Notice of Sale.
  3. Redemption Period: Now all mortgage arrears must be paid in full. If the mortgage is due, the borrower must pay off the entire mortgage. A lender cannot take any further action for 35 days.
  4. Statement of Claim: If the lender is not paid out or up to date on arrears, the Power of Sale moves to the next step. Now the lender issues the Statement of Claim to collect any amounts owing and move to take possession of the property.
  5. Statement of Defense: The borrower must file a Statement of Defense. If they fail to do so, the lender can obtain a Default Judgement. From there a Writ of Possession can be issued, which will lead to eviction.

Take Action!  Let us deal with it.

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Michael Goldenberg
President , M15001578
DebtCare Canada Inc.   
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Toll free: (888) 890-0888 x 102
Email:     mgoldenberg@debtcare.ca

 

 

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