NO EMPLOYMENT, NO CREDIT & NO INCOME REQUIREMENTS
STOP POWER OF SALE
save your family home
GET FUNDING IN 72 HOURS
STOP POWER OF SALE OF YOUR HOME NOW !
Stop Power of Sale in Ontario
When a homeowner does not pay monthly agreed mortgage amount according to the contract signed with the lender. the mortgage lender if its a bank or an individual legally has the right to sell the property to recover their funds. This legal process is does not make the agreed upon mortgage payments, their lender has the right to sell the property to reclaim their money. This process is legally called called a power of sale which is the most common solution for lenders in Ontario to recoup their funds. The process of power of sale generally takes around 6 months to fully complete, unlike the foreclosure process which takes over a year to complete.The function of power of sale works in a way that when the property is sold and ll the secured debts are paid including fees and penalties that are signed under the contract , the remaining funds will be paid back to the former home owner. Since there are big fees and penalties involved by Letting the power of sale process to fully be completed , there will not be much funds left at the end . This is a reason a home owner who has difficulty making mortgage payments to contact us as soon as possible so we can help assist stop the process of power of sale and allow the home equity to work for the home owner to save the family home. To stop power of sale in Toronto , Ontario, a home owner has various options that generally depend on when the power of sale process started, how much equity does the home owner has in the property, as well as location of the home and most recent appraised value of the property.
tactics To Stop a Power of Sale in Ontario
Every solution to stop power of sale in Toronto , Ontario involves paying off the amounts owed to the lender. Depending on when the process of power of sale started and if the mortgage term has berm expired there are legal grounds and permits for the lender to request different amounts. The lender is bound to accept payment of all arrears and fees if the initial notice of sale has been sent to the home owner but term of the mortgage is not expired. Total amount of arrears and fees that are owed is generally much lower than total amount of the mortgage, so when the amount owed is paid the mortgage borrower can continue the mortgage as normal. The total payment of arrears and fees would only be accepted 35 days after the notice of sale has been sent by the lender. In case of married couples the number of days are 40 to pay the arrears and fees owed. This period is also know as the redemption period and when is passed the grace period the lender can refuse all together together to continue with the mortgage and ask for the entire amount of mortgage form the borrower at once. Generally and often the borrowers do not have all the cash available so the following are the most common tactics a borrower can utilize to stop power of sale in Ontario by raising the funds they require:
1) Borrow a second mortgage against your property
The fastest and the least time consuming way is to get a second mortgage and utilize the money to stop the power of sale on the property. The funds from the 2nd mortgage are sufficient enough to pay fees and arrears as well as bringing the 1st mortgage up to date and in good standing. Borrowers who are going to need second mortgages while going through power of sale need to find aggressive Ontario private mortgage lenders who have high risk appetite and specialize in working with clients who are in tough financial situations. Private lenders in Ontario unlike their institutional counterpart will overlook income and credit score of the borrowers , instead what is key deciding factor is the appraised value of the property and the amount of equity in the property as well as total value of debt secured against the property. Private lenders utilize a metric known as LTV ( Loan to value ) ratio that is calculated and equal to total amount of current mortgages including the amount borrowed and registered against the property divided by most recent appraised value of the property. To clear this further , if the total amount of first mortgage is $700,000 and the value of the property is $1,000,000 the total LTV is 700,000 / 1,000,000 = 70% LTV . It is important to mention that amount is required is added to the first mortgage and the total is divided to the value of the property. . If the LTV is over 85% the lenders refuse to fund the deal.
2) Replace the Current Mortgage with a Brand New Mortgage
In case the lender has asked for the full repayment of the mortgage and the private lenders have turned you down and refused your application then you need to replace your current mortgage by a brand new Private mortgage. The new Private mortgage you acquiring must not only cover the amount you need for the arrears and fees but it must also cover the whole principal amount of old mortgage. Remember that the private lenders normally fund deals with total LTV of max 80%.
3) Sell the subject property prior to the owner selling it
In case you have tried all the avenues and have hit the block road you may then still have time to sell the property before the lender takes position of the property. Selling the property is difficult since you need to move from your family home but sometimes is the best option. since you can avoid lot of fees and penalties involved with power of sale . When a home is under power of sale the lender can sometime charge as high as 30 k in fees and penalties alone which a least you can save.
How our professional Private Mortgages team Can Help
Many lenders rather not provide a loan and mortgage for applicants who are going through power of sale. Our professional team of experts have the largest pool of private lenders in Canada and USA who can fund the toughest deals in toughest situations. . Our network of private lenders across Toronto Ontario are able to arrange private mortgages for people up to 85% LTV. We can help you understand the process f power of sale and where in the process you are so we can choose the best private lending solution for you at the lowest rates and the best terms to assist you stop power of sale in Ontario. Power of sale is complex process depend on other financial problems a individual can have, and there are so many other exceptions to the rules when it comes down to power of sale. Our team will make sure all steps are explained to you and by understanding the paperwork , legal process and other variable involved we can fund your deal and stop power of sale on your property quickly.
For a free consultation cal us at (416) 726-6383 or email us at email@example.com and we get in touch with you within the same business day.
FAST PRIVATE LENDING
WE LEND ON EQUITY NOT DREDIT & INCOME
FREE CONSULTATION: (416)726-6383
NO INCOME OR CREDIT REQUIREMENTS
NO MIN BEACON SCORE
NO MIN INCOME REQUIREMENT
BAD CRDIT & NO INCOME ? WE CAN HELP
BANKRUPTCIES? WE CAN HELP
GET APPROVED IN 24 HOURS
GET FUNDING IN 3 DAYS
MOST COMPETITIVE RATES & FEES
1ST MORTGAGES STARTING AT 6.99%
- SECOND MORTGAGES STARTING AT 9%
COMMERCIAL RATES STARTING AT 7%
LENDER FEES STARTING AT 2%
Stop Power of Sale – Take Action Now
If you are going through power of sale due to missed mortgage payments and your mortgage lender threats you that you will lose your home , hen call our private mortgage specialist team to help assist you to save your family home when clients are going through power of sale and even when they have received the demand letter from the mortgage lender.
You can utilize your home equity and by structuring a right private mortgage strategy you can :
Call Us Today & STOP POWER OF SALE (416) 726-6383
Questions? We Can Help !
Knowing Your Rights When going trough Power of Sale
In Ontario there are lots of scary information about foreclosure, it is important for you to know that there are no foreclosures and there is only power of sale. Most important fact about power of sale is that you have the legal right to save your home by paying off your mortgage arrears and fees owed as long as the current lender has interest to continue lending the mortgage and if not you can always switch lenders by getting approved through another lender. Most important fact is that you have the legal right to stop power of sale of your property.
We can assist you in saving your home by helping you stop power of sale . In case of power of sale the lenders would much rather get paid through the borrower and not go through the whole process instead of wasting time and resources to recoup the funds.
YOU ARE APPROVED BASED ON EQUITY – NO CREDIT AND INCOME REQUIREMENTS
Your private mortgage approval is according o how much equity yo have in your property and what is the value. your credit and income is not the main concern. Bad credit, no income, bankruptcy , consumer proposal are going to top you form getting approved. as long as there is sufficient amount of equity in your property.
Get pre -approved in Minutes and funded in 72 hours
You can stop power of sale in Toronto Ontario fast and easy. When you complete our application we will pre approve you within minutes and once we understand the nature of you borrowing needs and your special situation then we an finalize your funding to stop power of sale by utilizing our dedicated private lenders in Ontario. Stopping power of sale is as fast as pre approval in 24 hours funding in 72 hours. We has never been this simple or quick. Providing 24 hour approval and fast funding services to meet your urgent needs. We understand the time is of essence s we work fast and make sure we are with you ever step of the way until you are funded and the power of sale as been stopped. Contact us today to discuss you situation.
HOME EQUITY LOANS
BAD CREDIT MORTGAGES
STOP POWER OF SALES
OUR SIMPLE HASSLE FREE PROCESS to stop power of sale
FILL ONLINE FORM OR CALL
Complete our Quick and Easy Online Form or Call us (416)726-6383
You Are Pre Approved in Minutes
Get Pre Approved in Minutes & get funding in 72 Hours
Why Choose My Services
We have access to OVER 2000 PRIVATE LENDERS, across Canada and USA covering a massive spectrum of areas and appetite for private lending. We will secure your financing even when other specialists and mortgage agents who work with applicants with bad credit and income can not.
With decades of experience we have been able to build the largest network of private lenders across North America for various financing sectors such as Commercial , residential, development and industrial sector. We specialize in equity base lending so no matter what your borrowing needs are as long as you have sufficient amount of equity we have you covered.
Due to the uniqueness of each application we will treat it with care and accuracy so your file is sent and to the right lenders for a quote that works with your borrowing. we make sure you receive the lowest private mortgage rate in Toronto Ontario and across United Estate. Contact us today to receive your fast private lending. solutions.
get pre approved in minutes ! get funding in 72 hours !
call us 24/7
WHAT OUR LOYAL CUSTOMERS SAY ABOUT US:
Pellentesque in ipsum id orci porta dapibus. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Donec velit neque, auctor sit amet aliquam vel, ullamcorper sit amet ligula.Jone Doe
Pellentesque in ipsum id orci porta dapibus. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Donec velit neque, auctor sit amet aliquam vel, ullamcorper sit amet ligula.David Smith
Pellentesque in ipsum id orci porta dapibus. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Donec velit neque, auctor sit amet aliquam vel, ullamcorper sit amet ligula.Janet Chavez
AREAS WE SERVE:
A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. I am alone, and feel the charm of existence in this spot, which was created for the bliss of.