Tag: Mortgages Act
Tag: Mortgages Act
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...
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...
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...
THE ECONOMICS OF THE MORTGAGE INDUSTRY
Real properties (real estate) like buildings, lands, residences are generally acquired by a purchaser through taking a loan. The promise to repay this loan is backed by a...
