We Takeover Mortgage Payments in the Fraser Valley, BC and the Property. Contact Us

A property owner who utilizes a Company who can take over mortgage payments in the Fraser Valley, BC  benefits in many ways. You, the owner, are provided with immediate monthly cash flow management solutions to unmanageable or unwanted mortgage payments along with protecting your equity in your property and protecting your credit.

Our Company, GVC Property Solutions Inc. (GVCPS), is a Real Estate Investment Company that is headquartered in Vancouver, BC. We take over mortgage payments in the Fraser Valley, BC and the property associated with the mortgage. If you have been wondering “can someone take over my mortgage?”, our Company, GVCPS, can take over your mortgage payments for any property type that includes; houses, duplexes, town homes and condos in any price range, in any condition, in any situation and any location of the Fraser Valley, BC.

In a takeover mortgage payments contract in the Fraser Valley, BC, the two parties (the Seller and a Company), agree to the length of the term during which the mortgage payments are paid by the Company who take over mortgage payments as well as all the additional terms of the property sale including the purchase price.

People who take over mortgage payments in the Fraser Valley, BC are Real Estate Investment Companies. These Companies are owned by Professional Real Estate Investors who take over mortgage payments in the Fraser Valley, BC that have decades of experience regardless of the Seller’s situation and regardless of the real estate market conditions.

When Investors take over mortgage payments in the Fraser Valley, BC, there is a difference between assuming the mortgage and taking the property subject to the mortgage:

Assuming a Mortgage: If an investor wants to buy your house that has a mortgage, the mortgage lender may allow the investor to assume your mortgage. Simply stated, the lender replaces your name on the mortgage with the investor’s name and the investor becomes legally responsible for making the monthly payments.

Subject to Mortgage: If an investor wants to buy your house subject to the mortgage, the investor makes an agreement with you that the investor will make the mortgage payments.  In short, the existing financing that you have in place is taken over by the investor. This route is basically paying for the mortgage already in place through a written legal agreement between you and the investor.

Our Company provides flexible, pre-negotiated Terms that can give you the best value for your house, townhome or condo and can provide you with more money with none of the hassles normally involved in selling.

In most cases, we take over the entire mortgage payment as well as all of your other monthly financial obligations regarding the property on your behalf that may include; property taxes, property insurance, monthly strata fees as well as any repair or maintenance costs.

When we buy houses on Terms through our Mortgage Take Over Program, you are provided with immediate monthly cash flow management solutions to unmanageable or unwanted mortgage payments along with protecting your equity that you may have in the property and protecting your credit.

Our Company buys houses quickly with flexibility and convenience so you can move on from your situation with peace of mind. We know the real estate and mortgage industry and if you are facing one or more of the following difficulties, our Company can offer an immediate, professional relief from your real estate situation:

  • Financial stress that requires an immediate sale of your property
  • You need relief from your mortgage or property situation for any reason
  • You have minimal equity but need to sell now
  • Your mortgage is higher than the property value
  • You need an immediate and flexible sale due to a job transfer or for any other reason
  • Your property has been listed with a realtor for many months and hasn’t sold
  • You have a house that is too costly to maintain
  • You have a house that is too stressful to manage
  • You are tired of being a landlord and dealing with landlord tenant disputes, tenancy issues and tenant problems
  • You are having difficulty making your mortgage payments each month
  • You are making payments on two or more properties
  • You are facing PRE foreclosure
  • You want to avoid bankruptcy or a consumer proposal
  • You are an out of town owner and you don’t want to be a long distance landlord
  • Your property is in need of extensive repair that you do not have time or money for
  • You are divorcing and need to sell
  • Your listing has expired with your Realtor
  • You have a costly mortgage penalty but need to sell now
  • You prefer not to sell through a realtor and be inconvenienced with realtor showings

If you are looking for a professional and experienced Real Estate Investment Company to buy your house, townhome or condo in the Fraser Valley, BC, contact us. Sell your house fast in the Fraser Valley, BC in the most beneficial manner for everyone involved. No real estate commissions and no hassles. Contact us for Free consultation: 604-812-3718.

Do I Have Bankruptcy Options? Yes, Contact Us. There Are Alternatives

Personal Bankruptcy Options Vancouver – Facts & Alternatives | BC

No one wants to file for bankruptcy. It’s important to look at all other bankruptcy options and obtain all of the facts before taking such a drastic step.

Personal Bankruptcy Options in Vancouver, BC – Bankruptcy might be the first thing you think of when you realize that you can’t keep up with your mortgage payments, other debts and bills. You may think that bankruptcy might be the right debt solution for you., however, before declaring bankruptcy, you need to know what your options are, how the process works and how it will affect you and your family in the years to come. You should never take a step as serious as filing for bankruptcy without an accurate understanding of your bankruptcy options first.

Types of Debts – What Bankruptcy Won’t Do For You

Bankruptcy can get rid of some of your debts, however, did you know that there are some debts that you might still have to repay because they can’t be included in your bankruptcy?

3 common kinds of debt that are excluded from bankruptcy are:

  • Secured debts, like a mortgage or car loan
  • Child and alimony support payments that aren’t up to date
  • Student loans, if they are less than 7 years old

Also, if you recently racked up credit card bills and now want to go bankrupt, creditors may stop you or ask that you pay more, before they let you get rid of your debt through bankruptcy.

Contrary to popular belief, when you file for bankruptcy, you will not ‘lose everything.’ Each province and territory has its own exemptions to the bankruptcy law that outline which of your assets, and how much equity, you are allowed to retain.

Can I keep my property?

There are exemptions that allow you to keep some of the equity in your property when you file for bankruptcy. Generally speaking, however, if you’ve already paid off a large portion of your mortgage (ie. you have built up equity in your home), filing for bankruptcy might not be the best solution for you—the law requires you to use that equity to pay off some of the money you owe to your creditors.

To keep your property after filing a bankruptcy, you would need to pay a Licensed Insolvency Trustee (LIT) the amount of property equity you have—minus any provincial exemptions. Property equity is calculated by subtracting the remaining amount of your mortgage, along with any outstanding taxes you owe, from what your property is currently worth on the market.

For example: If the current market value of your property is: $500,000


Your remaining mortgage amount $440 000
Your property tax arrears $4,800
Your total liens $444,800
Your estimated property equity $55,200

Depending on which province you live in, you would have to pay up to $55,200 during the bankruptcy process in order to keep your property. This is one of the reasons why bankruptcy is only considered after all other bankruptcy options have been explored. If you can afford to repay a portion of your debt, but not the full amount of equity in your property, you may wish to consider another bankruptcy option.

Our Company, GVCPS, is a well established Real Estate Investment Company that can provide you with bankruptcy options. We specialize in protecting your equity along with protecting your credit in these types of situations.Office: 604-812-3718 Email: info@gvcps.ca or visit our Website for more information: www.gvcps.ca

In British Columbia, property owners’ exemptions are higher if you live in Vancouver or Victoria. In this case, $12,000 of the equity in your property is protected in Greater Vancouver and Victoria. In all other areas of the province, $9,000 in property equity is exempt from bankruptcy.

Bankruptcy Options – There are Good Alternatives to Bankruptcy

A lot of people don’t realize it, but regardless of how bad your situation may seem to be, there are often ways to avoid bankruptcy. There are consumer proposals, debt management programs, and other bankruptcy options. It is important to go over your financial situation and take an objective look at all your bankruptcy options. Between financial difficulty and bankruptcy are many options, and we specialize in helping you explore those options to figure out what will work best for you to protect all of your equity in your property and protect your credit moving forward.

Property and Mortgage – If you are not paying your monthly mortgage payments, your mortgage lender can still foreclose regardless of whether you are bankrupt or are planning on filing for bankruptcy. Bankruptcy does not stop the foreclosure process because a mortgage is a secured debt. If you are experiencing difficulty paying your mortgage payments each month and want to avoid foreclosure, protect your equity in the property and protect your credit, contact us today. We provide you with immediate monthly cash flow management solutions to unmanageable or unwanted mortgage payments along with protecting any equity you may have in the property and protecting your credit.

BDO Canada Limited
Credit Counseling Society of BC

Alternative to Bankruptcy in BC. We Can Help. Foreclosure and Bankruptcy Options.

Foreclosure and bankruptcy are both complex processes and each person’s situation will be different. You may have never experienced either situation before and it is not unexpected that you may be feeling overwhelmed and not sure what to do.

If you are experiencing financial stress, early intervention is the key to turning around your financial situation to avoid bankruptcy and foreclosure.

If you are thinking about filing for bankruptcy and that it might be a good solution for your debt and mortgage problems, you should know more about your alternatives to bankruptcy and foreclosure before taking such a drastic step.

Take the first step and contact us for free confidential consultation regarding an alternative to bankruptcy and foreclosure to avoid the consequences of taking no action.

We are a well-established Real Estate Investment Company that can provide you with an alternative to bankruptcy and foreclosure by providing you with immediate monthly cash flow management solutions to unmanageable or unwanted mortgage payments along with protecting any equity you may have in your house, townhome or condo  and protecting your credit.

We take over mortgage payments and the house, townhome or condo associated with the mortgage in Vancouver, BC, the Lower Mainland, BC and the Fraser Valley, BC.

Our focus is to help you eliminate insurmountable debt and stress. We can help get your mortgage payments back on track or if your mortgage lender has issued you a demand letter for your missed mortgage payments, we can help reinstate your mortgage and bring the mortgage back into good standing if you act within the time limits that your lender has provided in their demand letter.

Contact us to discuss your situation in more detail and what solutions we can provide to your real estate situation.

Foreclosure Options: Alternative to Bankruptcy 

A missed payment on your mortgage is a default in your mortgage contract with your lender which allows your lender to commence foreclosure, a legal process to seize your house, townhome or condo to sell for repayment of your mortgage lender’s debt. You have options when facing foreclosure and, if you are able to use any of these options listed below to solve your problem, it is important to act quickly to avoid or stop the foreclosure process.

Alternative to Bankruptcy: Stop Foreclosure

  • Payment of arrears. In the case of a single missed payment, you will generally receive a reminder from your lender. If you are able to pay, contact them to make payment arrangements. They may also be able to assist you with temporary financial situations to avoid foreclosure even after formal demand for repayment has been made.
  • Redeem your mortgage. You may be able to obtain a mortgage with another mortgage lender. There will generally be costs other than the current mortgage balance that will also have to be paid. These can include strata fees, property taxes, interest or penalties under the existing mortgage, payout of judgements/liens registered on title by other creditors, etc. A mortgage broker may be able to provide some assistance to you in locating another lender during this critical time.
  • Sell your house, townhome or condo and to pay off your mortgage debt. If you have sufficient equity in your house, townhome or condo,, you may be able to sell your property and pay off the mortgage. Equity is the value after the mortgage and interest, any penalty on the mortgage for selling before the end of term, other debts or judgments registered against the property and any selling costs such as realtor’s commissions and legal costs.

Alternative to Bankruptcy: Impacts of bankruptcy on your house, townhome or condo and your mortgage debt

You should be aware of the impacts of bankruptcy on your house, townhome or condo and your mortgage debt when considering bankruptcy. If you are considering bankruptcy, the bankruptcy may occur at any stage during the foreclosure process and may impact your decision on what action to take. The information provided below is general and should not be construed as legal advice.

  • Secured creditors in bankruptcy. A mortgage lender is a secured creditor and retains their rights in bankruptcy. This means they can continue with their existing payment arrangements on a mortgage that is current and not in foreclosure, continue a foreclosure action started prior to bankruptcy, or take foreclosure action for a default occurring during the bankruptcy. The mortgage debt must be listed in your documents if it exists at the date of the bankruptcy and the lender will receive notice of the bankruptcy.
  • Equity in personal residence. The equity in your personal residence in a bankruptcy is the portion remaining after the mortgage, interest and selling costs. Unlike the calculation of equity when selling your property to pay off your mortgage, the judgment creditors are not considered as they are no longer able to take action once you are discharged from bankruptcy. If you reside in your home at the date of bankruptcy, you are entitled to claim $12,000 equity in a home in the Lower Mainland of BC and $9,000 in other areas of BC. This exemption may be different for other provinces and territories.If there is equity in your home over the basic exemptions listed above, it vests in the trustee for the benefit of your other creditors. You are not entitled to retain the non-exempt portion of your equity and will have to discuss with your trustee options to have this realized if you wish to retain your home.
  • Foreclosure prior to the date of bankruptcy – No equity. If the foreclosure process has started, and there is no equity in your property, you may not want to take any action as any debt remaining after the foreclosure process will be included in your bankruptcy. This debt is included whether or not the foreclosure has completed at the date of bankruptcy if it was commenced prior. However, if there is another individual on the mortgage that has not filed bankruptcy, they will be responsible for the full amount of any shortfall remaining on completion of the foreclosure process.
  • Foreclosure prior to the date of bankruptcy – Equity.   If there is equity in your property and you believe that you may be able to take advantage of any of the options to stop the foreclosure process, you should obtain legal advice on your options and possibly defer filing a bankruptcy. If there is sufficient equity available in your home, you may be able to obtain additional funds by refinancing your mortgage or obtaining a second mortgage to pay out your unsecured creditors or file a proposal with a licensed insolvency trustee to settle the debt of your other creditors. However, although you may qualify for a higher mortgage, you should review your budget to ensure that you can maintain the new mortgage payments in the long term based on your known financial circumstances.
  • Credit rating and obtaining a rental home during bankruptcy. If you are looking for a rental to move into during the foreclosure process, you may find that some owners of rental properties or property managers may request a credit bureau search to check your credit rating. This does not mean that a low credit rating will not enable you to obtain a rental home, but you may be considered a higher risk. If you have a judgment from a foreclosure process or other creditor, or have filed bankruptcy, this information may be listed on your credit bureau report, and impact your credit score.

Alternative to Bankruptcy and Foreclosure: Contact Us.

Our Company. GVC Property Solutions Inc. specializes in providing you with an alternative to bankruptcy and foreclosure. Contact us to provide a free consultation to discuss the different bankruptcy options and bankruptcy foreclosure options that are available to you in your individual situation.

We understand the stress and hassles that you face when you are in a difficult real estate situation. We don’t know how many months you’ve been trying to sell or have been looking for a solution to your situation. Don’t procrastinate. Don’t let your property situation become a liability or a burden.