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

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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

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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

LESS:

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.

References:
BDO Canada Limited
Credit Counseling Society of BC