Tag: mortgage default

9 Aug

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...

23 Dec

What If A Mortgage Goes Bad In A MIC? What are the Investment Benefits In A MIC?

Management of the MIC must be vigilant and selective with whom they lend to, and investors can inquire about whether the MIC in question will allow...

12 Sep

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...