| GVCPS

Are you struggling with your mortgage payments? Have you suffered an unexpected life event such as divorce, loss of your job, illness or a short-term or permanent disability that prevents you from working? Are you experiencing difficulty managing your household debt and struggling with your mortgage payments?

Our Company, GVC Property Solutions Inc. (GVCPS), is a real estate investment Company. We understand the stress and hassles that you face when you are experiencing unmanageable or unwanted mortgage payments, experiencing difficulty selling your property through traditional methods or when you just need relief from your property situation for any reason.

Our Company provides Free consultation services to people who are experiencing difficulty making their mortgage payments along with any other mortgage problems that you may be facing. With 25 years of experience, we have earned a reputation for helping people. Our job is to provide you with peace of mind and immediate financial relief regarding your mortgage and property situation.

If you are experiencing long-term financial difficulties and struggling with your mortgage payments and as a result, missing your mortgage payments, foreclosure will be inevitable. The stress of your financial situation may cause you to ignore your financial problem. Don’t. If you would like to get your mortgage payments back on track, protect any equity you have in the property along with protecting your credit, you may still have options with your mortgage lender with a modification of mortgage:

Modification of Mortgage

If you can’t pay your full mortgage payment indefinitely, your lender may agree to offer a modification of mortgage. Your lender may agree to adjust your monthly payments and the loan period to reflect changes in your financial situation. The interest rate may be modified from an adjustable rate to a fixed rate and penalties may be waived.

A modification of mortgage is a process where the terms of your mortgage are modified, or changed, to make the loan more affordable. The term of your loan may be extended, reducing the amount of principle that must be paid every month.

If your lender agrees to a modification of mortgage, your lender may write off some of the loan principle, reducing the total amount owed on the loan or your lender may allow you to pay outstanding mortgage payments in installments or your lender may defer some of your mortgage payments to a later date.

A modification of mortgage can be in your lender’s best interest, however, approval of a modification of mortgage can be difficult to obtain and it’s at your lender’s discretion to decide if they will allow a modification of mortgage or not.

A modification of mortgage can be temporary. The result is that you, the borrower, are capable to keep up with your mortgage payments and your lender is able to avoid the expense of the foreclosure process and keep a performing asset on it’s books rather than a potential liability.

When financial circumstances impact your ability to make regular mortgage payments, it’s important that you address the issue immediately. With early intervention, cooperation and a well-executed plan, you can work together with one of our mortgage professionals at GVCPS to find a solution to your mortgage problems.

Our Company will help you regarding a modification of mortgage by providing you with proper advice and help you apply for a modification of mortgage according to your lender’s consideration.

It’s important that you contact your lender directly or our Company regarding looking into a modification of mortgage as soon as you are experiencing financial difficulty and begin missing your mortgage payments. Address any difficulties you are having with your mortgage payments immediately. Acting fast will help to keep your best options open to resolve your situation so you can keep your house, protect your equity, protect your credit and avoid foreclosure.

The principal purpose of a modification of mortgage is to provide your mortgage lender with sufficient documentation to evaluate the risk of modifying your mortgage. The main question your lender is trying to answer is: can you afford to pay the new modified mortgage payment.

A modification of mortgage is granted by your mortgage lender. A modification of mortgage is an arrangement that reduces a mortgage borrower’s mortgage obligations during a time of financial difficulty. A modification of mortgage is intended to make it easier for the mortgage borrower to keep up with their mortgage payments and avoid losing their home, their equity and their credit rating to foreclosure.

We Can Help You With The Following Regarding a Modification of Mortgage:

Discuss a modification of mortgage with your lender by reducing your current mortgage rate.
Discuss a modification of mortgage with your lender to allow you to make up any outstanding mortgage payments over a period of time without incurring further penalties.
It’s easier to obtain a temporary modification of mortgage. Long-term modification of mortgage changes such as extending your mortgage loan term or writing off your mortgage principle are usually more difficult to be approved by your lender. We will discuss all of the short-term and long term modification of mortgage possibilities with your lender on your behalf.
Most mortgage lenders are more willing to grant a modification of mortgage if there is a reasonable expectation that you will be able to return to a normal mortgage payment schedule down the road. It’s more difficult to obtain long-term relief for a permanent change in your financial situation, however we can discuss all of the modification of mortgage possibilities with your lender on your behalf.

Get Rid of Your Tenant Problems

Even though you carefully performed your due diligence screening your new tenants with their previous landlord references, their employment references and credit checks – as an experienced landlord or a new landlord, more often than not, you will experience tenant problems. If your new tenant who you thought would be the perfect tenant turns out to be a nightmare instead, are you wondering how to get rid of your tenant problems and how to evict a tenant quickly?

If you are a landlord and haven’t faced any tenant problems, you are one of the lucky few, however and unfortunately, every landlord, experienced or not, eventually experiences tenant problems. Non-payment of rent or continual late payment of rent, excessive noise – especially late at night and breach of your tenancy agreement are the most common tenant problems landlords experience.

If you are experiencing tenant problems that you need help with, contact our Company, GVC Property Solutions Inc. Our Company offers free consultation to your tenancy problems and we have over 25 years of experience in the eviction service industry and dealing with tenant problems. Contact us today with any concerns you have regarding your tenant problems 604-812-3718 or info@gvcps.ca.

Other tenant problems include: unreasonably dirty premises and having too many people living in one space. When tenant problems relates directly to non-payment of rent or continual late payment of rent, you have the option of following the eviction process. When problems shift into other areas, the process becomes more challenging.

Handling Tenant Problems

It is your responsibility as a landlord to ensure avoidable problems do not occur after a property is rented. Landlords have to ensure the rental property complies with the rules and regulations for health, safety, housing and maintenance, municipal property standards and zoning bylaws, fire safety regulations and building codes. If the rental property fails to meet these standards at any point during the tenancy, the landlord must make the necessary repairs.

On the other hand, when asking your tenant to clean up and make repairs to an exceptionally dirty or damaged rental property, a simple verbal or written request (or politely worded warning) might get results. For tenant problems that violate local by-laws, landlords often call the police. In these situations, a police warning or fine may convince offending tenants or neighbours to stop breaking any noise, parking or garbage by-laws.

If initial attempts to resolve your tenant problems fail, you may need to formalize your complaint through the Residential Tenancy Branch (RTB). When the communication between you and your tenant breaks down completely, proof and witnesses will be needed to demonstrate blame and establish compensation, if in order. For example, offended neighbours or other tenants might help you support claims against noisy tenants.

Tenant Problems – What to do When Tenants Don’t Pay Their Rent

When tenants fail to pay the rent, it is important to act quickly. When this happens, you can serve your tenant with an eviction notice. You can serve this notice as soon as the tenant’s rent is late. Click the link for more information: https://www2.gov.bc.ca/assets/gov/housing-and-tenancy/residential-tenancies/flow-charts/pe1.pdf

The Residential Tenancy Act in BC provides that a landlord may end a tenancy where the tenant is repeatedly late paying rent. Three (3) late payments are the minimum number sufficient to justify an eviction notice under these provisions.

It does not matter whether the late payments were consecutive or whether one or more rent payments have been made on time between the late payments. However, if the late payments are far apart an arbitrator may determine that, in the circumstances, the tenant cannot be said to be “repeatedly” late. A landlord who fails to act in a timely manner after the most recent late rent payment may be determined by an arbitrator to have waived reliance on this provision.

Procedures and paperwork are extremely important when dealing with tenant problems that involve cases of rent non-payment. If you have a valid reason to terminate a tenancy but make a minor mistake in the paperwork, the Tribunal in BC may not uphold the action.

Further, your tenant can submit an application to the RTB if you don’t make repairs or improvements or fail to provide services as a condition of a rent increase. Your tenant may also apply for a rent reduction if municipal taxes have been lowered or if a building service or facility is reduced or removed and you do not reduce the rent.

Emergencies and Repairs

An emergency repair is required when something in the rental property has broken and the health or safety of your tenant is in danger or the building or property is at risk until repairs can be made. By law, as the landlord you should handle and pay for emergency repairs.

At the beginning of the tenancy it is a good idea to inform the tenant that it is their responsibility to purchase content insurance. This insurance will cover damage to your tenant’s belongings resulting from a problem in the property.

In some situations, if you are not available and repairs must be performed immediately to reduce personal risk or property damage, your tenant can authorize the repair work. Repairs can also be authorized by an order from the RTB.

Solve Your Tenant Problems

You can take action to solve your tenant problems and evict your tenant if the tenant has failed to pay the rent, has caused unreasonable damage, or has bothered you or another tenant. You may also evict your tenant if you or an immediate family member (parent, son or daughter of you or your spouse only) wants to move into the property, or if you sell the rental property and the new owner or the owner’s immediate family wants to move into the property.

If you have the necessary building permits, you can end a tenancy to carry out major renovations or demolish the property. The RTB takes eviction disputes very seriously and so you must make sure you have legal reason to end the tenancy. Tenants do have the right to dispute a Notice to End Tenancy by applying for dispute resolution if they suspect the notice is not permitted by the RTB.

If you have attempted to resolve your tenant problems and perhaps provide your tenant with a second chance, but your tenant still continues to breach your tenancy agreement or the Residential Tenancy Act then speak to a tenancy law specialist at our Company for suggestions and advice regarding your tenant problems and how to evict a tenant quickly. We offer free consultation and we will explain the eviction process to you and how you can evict a tenant quickly and legally. Contact us today 604-812-3718 or info@gvcps.ca.

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