Mortgage & Loan Enforcement
Criminal Rate of Interest for Ontario Mortgage Transactions: Practical Guide for Private Lenders, Brokers and Real Estate Lawyers
Criminal Rate of Interest for Ontario Mortgage Transactions: Practical Guide for Private Lenders, Brokers and Real Estate Lawyers Effective January 1, 2025, Canada’s criminal interest rate regime...
What to Know About Buying a Foreclosed Home in Ontario?
When you’re looking to buy a home, you may often come across a home for sale that is under foreclosure. These properties are usually identified by...
Registering a Notice to try and save a Power of Sale
Often, borrowers loosing their home to a power of sale will take any advise they can get to stop the process. Borrowers are sometimes led to...
Private Lending: Do not Rely on Someone Else’s Appraisal!
Often private lenders will receive a brief term sheet with an email introduction from a mortgage broker or agent trying to place a mortgage deal. Included...
What happens when Home Trust now needs to borrow money to advance you a mortgage loan?
What do you do when your mortgage lender now has to pay a higher interest rate to their own lender on the money they loaned to...
A MIC or a Mortgage Investment Corporation: What are they and how do you start one?
With significant potential for favourable rates of return and previously instituted tax exemptions, Canadian Mortgage Investment Corporations (MIC’s) are increasingly becoming recognized as a low-risk method...
Can a lender charge a mortgage pre-payment penalty under Power of Sale proceedings or once the mortgage term has matured, regardless if it is an Open or Closed Mortgage?
Under section 17 of the Mortgages Act, and pursuant to relevant case law the answer is “Yes” the lender can. Subject to the wording in the...
CONSUMER DEBT: What Collection Agencies Can & Cannot Do
From Mumbai to Manitoba, there are often horror stories in the media of people being (verbally) abused, beaten up, chased down, dragged out and subjected to...
REAL ESTATE: Depending on the age and type of property, the following off title searches may be necessary!
Occupancy permits: For a newly built or renovated dwelling or an extension or addition thereto, it is necessary to find out whether or not the local...
MORTGAGE DEFAULT: Power of Sale or Foreclosure?
Although generally the real estate market in Ontario has been robust, the frenzied market of the past has caused an increase in mortgage defaults as a...
