If you are having trouble paying your mortgage and looking for foreclosure help, you will quickly realize that there are not many resources available online. Most websites, articles and blogs that you will find target real estate investors that are looking for a good deal; others try to sell you on a new mortgage but few will give you the answers you are looking for.
So where can you find foreclosure help? Depending on your specific situation the following are some ideas:
Talk to your bank – If you have problems paying the mortgage, talk to your lender. Many home owners are reluctant to discuss their situation with the bank. But, don’t forget, the bank has a lot of money on stack and if there is any way they can help, they will. If you are in the process of locating funds to pay the arrears and put your mortgage in good standings, make sure you communicate this to the bank as soon as possible. I have met many home owners who walked into the bank with the money required to fix the mortgage only to find out that their file was already sent to the lawyer. Although this is not the end of the world, it will cost you more money and time to stop the foreclosure once it is at lawyer’s hands.
Talk to the bank’s lawyer – If your case has already been forwarded to the bank’s lawyer you can get useful answers by talking the lawyer.
Mortgage brokers – Some mortgage brokers are able to offer new financing even if your credit score is not that great. Be careful about who you work with and what kind of loan you are signing for. To learn more, read our article about get a new mortgage from another lender.
Realtor – If you have enough equity in your house and you want to sell it, a Realtor might be your best bet.
Legal publications – there are few good resources online that will give you an overview of the foreclosure process in BC. My favorite is a booklet published by Legal Services Society called Can’t Pay Your Mortgage? What You Can Do If You’re Facing Foreclosure
Although the above listed resources can provide foreclosure help to a certain extent, none of them is able to give a complete overview of the various salutations available to you. This is when we can come for your help. We take the time to explain all the options that are available for you. We work with you personally to find a solution to help stop the foreclosure on your. To learn more about the type of solutions we are able to offer visit our page about Foreclosure Solutions.
To get started now, please contact us as soon as possible>>