Trouble Paying Mortgage in Vancouver BC? We Take Over Mortgage Payments and the Property Associated With the Mortgage. Contact Us.

Are you experiencing difficulty paying your mortgage payments in Vancouver, BC, the Lower Mainland, BC or the Fraser Valley, BC? Contact us, our Company, GVC Property Solutions Inc. (GVCPS), is a well established Real Estate Investment Company that takes over mortgage payments and the house, townhome or condo associated with the mortgage.

Regardless of the condition or size of the property and regardless of your situation, we can provide you with immediate monthly cash flow management solutions to your unmanageable or unwanted mortgage payments along with protecting your equity in your house, townhome or condo and protecting your credit.

For 25 years, we have been providing professional home buying solutions to people who are experiencing difficulty selling their property through traditional methods, people who are experiencing difficulty paying their mortgage payments each month and people who require relief from their house, townhome or condo situation for any reason.

“What Should I Do If I Am Struggling To Pay My Mortgage?”

It’s important for you to act quickly if you are experiencing Trouble Paying Mortgage payments. When unforeseen financial circumstances impact your ability to make regular mortgage payments as a result of job loss, income reduction or for other reasons, it can be an overwhelming experience leaving you feeling uncomfortable and unsure of what to do.

To increase the chance of successfully managing your financial situation through early intervention, call your mortgage lender at the first sign of financial difficulty. With early intervention, cooperation, and a well executed plan, you may be able to work with your mortgage lender to find a solution to your financial difficulties.

Clarify Your Financial Situation

In order to help your mortgage lender as well as yourself fully understand your financial situation, prepare a detailed list of your financial obligations including any credit cards, loans, household bills with the amounts owing and their due dates. Be sure to include information about your current income, savings accounts, investments, and any other assets.

Your Lender’s Tools That May Be Available To You: Trouble Paying Mortgage

  • Short-term mortgage payment deferral: Your lender may agree to pause or suspend your mortgage payments for a certain amount of time.
  • Extending the original repayment period (amortization): An extension to your original amortization period can lower your monthly mortgage payments.
  • Adding any missed payments (arrears) to the mortgage balance: Your lender may be able to add missed payments to your mortgage balance and spread them over the remaining mortgage repayment period.
  • Moving from a variable to a fixed interest rate mortgage: Converting a variable interest rate mortgage to a fixed interest rate mortgage in order to protect you from a sudden interest rate increase, should one occur.
  • Special payment arrangement: There may be a special payment arrangement unique to your particular financial situation.

Contact Us For Immediate and Professional Solutions: Trouble Paying Mortgage

If you have been searching for a Professional Real Estate Company to take over your mortgage payments and the house, townhome or condo associated with the mortgage, contact us. We provide Free Consultation to discuss the different options that are available to you to help you find a solution to your “Trouble Paying Mortgage” situation.

We help you avoid foreclosure by taking the weight of your monthly mortgage payments off of your shoulders and if necessary, we can reinstate your mortgage with your lender to bring your payments back into good standing to help. protect your equity in the property and your credit.

We understand that when you are in a difficult real estate situation, you need an immediate and professional solution. Our job is to provide you with immediate relief from your mortgage payments and the house, townhome or condo associated with the mortgage so you can move on from your real estate challenge with peace of mind.

How We Help You: Trouble Paying Mortgage

  • We take over your mortgage payments that provides you with monthly cash flow management solutions that protects your equity in the house, townhome or condo and protects your credit.
  • We take over mortgage payments and the house, townhome or condo as-is, regardless of the condition of the property without you having to spend time or money on repairs or unfinished renovations.
  • We take over mortgage payments and the house, townhome or condo regardless of your situation.
  • We do not charge any real estate commissions.
  • You can move on from your property and mortgage situation with peace of mind.

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. For all of your Trouble Paying Mortgage problems, contact us to find a professional and immediate solution to your situation. We have handled hundreds of purchase situations and have helped many people facilitate a non-stressful real estate transaction.

We take over mortgage payments and the property associated with the mortgage in Surrey BC, Delta BC, Coquitlam BC, Port Coquitlam BC, Port Moody BC, Vancouver BC. Burnaby BC, Richmond BC, New Westminster BC, Langley BC, Pitt Meadows BC, Abbotsford BC, Maple Ridge BC, Mission BC and Chilliwack BC.

Can’t Pay My Mortgage What Do I Do? Contact Us. We Can Help

Most people don’t plan on missing their mortgage payments, however, unforeseen financial circumstances or unexpected life events such as a result of job loss, family income reduction, or other reasons, can impact your ability to make regular mortgage payments and can cause you to fall behind on mortgage payments, leaving you feeling uncomfortable and unsure what to do.

When unexpected financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. With early intervention, cooperation, and a well executed plan, you can find a solution to your mortgage payment difficulties, avoid foreclosure and protect the equity in your house, townhome or condo.

Can’t Pay My Mortgage What Do I Do? Contact Us. We Can Help.

Our Company, GVC Property Solutions Inc. (GVCPS), is a well established Real Estate Investment Company that provides professional and immediate home buying solutions to people who are experiencing difficulty paying their mortgage payments each month, people who are experiencing difficulty selling their house, townhome or condo through traditional methods and people who require relief from their property situation for any reason.

Along with our affiliated Companies, we have been operating for 25 years buying houses, townhomes and condos that are in any condition, in any situation and in any location of Vancouver BC, the Lower Mainland BC and the Fraser Valley BC.

We work on a daily basis with people who are looking for a professional and friendly transaction who require an immediate and flexible sale or solution to their real estate situation. Contact us to discuss your real estate situation in more detail. We provide Free Consultation to discuss your options and what solutions we can provide to your real estate situation. We are not realtors and we do not charge any real estate commissions.

What Are My Options If I Can’t Pay My Mortgage? What Do I Do? 

Paying your mortgage payments will become even more of a struggle If you are already on a tight budget and unexpected financial circumstances occur,, however, you do have options.

If you are experiencing difficulty paying your mortgage payments and are about to miss a payment or if you have already defaulted on your mortgage payments and have received a demand letter from your mortgage lender that has not passed the deadline to reinstate your mortgage, contact us.

We will discuss all of your options that are available to you. We can help you prevent foreclosure by reinstating your mortgage with your lender and bring your mortgage back into good standing with your mortgage lender.

We can take over your property payments and the house, townhome or condo associated with the mortgage regardless of your situation and regardless of the condition of the property. We provide you with immediate monthly cash flow management solutions if you are experiencing difficulties paying your mortgage payments each month along with protecting your equity in the property and your credit.

We provide flexible, pre-negotiated terms when we take over payments and the house, townhome or condo associated with your mortgage that can give you the best value for your property that can provide you with more money with none of the hassles normally involved in selling in any area of Vancouver, BC, the Lower Mainland, BC and the Fraser Valley, BC.

When people contact us explaining “I Can’t Pay My Mortgage What Do I Do?”, we understand the stress and difficulties that you are facing.

If you are facing one or more of the following difficulties, we can provide you with a professional and immediate house buying solution regardless of your situation or the condition and age of the property.

  • Your house, townhome or condo is difficult to sell and you need a solution now
  • Your property has been listed with a realtor for many months and hasn’t sold
  • You just want out of your mortgage or property situation for any reason – either personal or for any other reason
  • You are having difficulty making your mortgage payments each month
  • You have a house that is too stressful to manage
  • You are making payments on two or more properties
  • You are tired of being a landlord and dealing with landlord/tenant disputes, tenant problems and property damages
  • You need an immediate and flexible sale due to a job transfer or for any other reason
  • You require immediate financial relief from your house, townhome or condo
  • You are facing PRE foreclosure
  • You have minimal equity but need to sell now
  • Your mortgage is higher than the property value
  • You have a house that is too costly to maintain
  • Your listing has expired with your realtor
  • Your property is in need of extensive repair that you do not have time or money for
  • You are an out of town owner and you don’t want to be a long distance landlord
  • You want to avoid bankruptcy or a consumer proposal
  • You prefer not to sell through a realtor and be inconvenienced with realtor showings
  • You are divorcing and need to sell
  • You have a costly mortgage penalty but need to sell now
  • Your house is too big or too small and you need a convenient and flexible solution
  • Your strata property has Rental Restrictions and you are experiencing difficulty selling while paying mortgage payments on a vacant property
  • You own your property free and clear and would like to acquire some of your equity now and the remainder of your equity at closing

If you are in the situation, I “can’t pay my mortgage, what do I do?” Contact us. We Can Help.

We don’t know how many months you’ve been trying to sell or have been looking for a solution to your mortgage payment situation. Don’t procrastinate. Don’t let your property situation become a liability or a burden.

Our Company specializes in taking over mortgage payments and the house, townhome or condo associated with the mortgage regardless of your situation and regardless of the age or condition of the property. We offer fast, professional and confidential solutions to your property situation regardless of your circumstance.

If you are looking for a Professional Investor to provide you with immediate relief from your mortgage payments and property situation, contact us for Free Consultation. Our job is to provide you with immediate relief from your property situation so you can move on from your property situation with peace of mind.

Is Your Mortgage in Arrears In Vancouver, BC, the Lower Mainland or the Fraser Valley, BC? We Can Help. Contact Us.

Are you struggling with your mortgage payments? Is your mortgage in arrears? You are not alone. If you are experiencing short term or long term financial difficulties and missing your mortgage payments, it can be an overwhelming experience leaving you feeling uncomfortable and unsure of what to do.

When unforeseen financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. If you do not find a solution to your mortgage in arrears, the foreclosure will be inevitable.

For 25 years, our Company, GVC Property Solutions Inc., has been providing property owner’s with immediate monthly cash flow management solutions to their unmanageable or unwanted mortgage payments along with protecting their equity in the property and protecting their credit.

If you are facing a mortgage in arrears, we take over property payments and the house, townhome or condo associated with the mortgage in Vancouver, BC, the Lower Mainland and the Fraser Valley, BC. Contact us today for Free Consultation.

Our Company specializes in taking over house payments and the house, townhome or condo associated with the mortgage regardless of your situation and regardless of the condition of the property. During the pre=foreclosure stage, we can re-instate your mortgage (bring your mortgage back into good standing) with your lender. We offer fast, professional and confidential solutions regardless of your circumstance.

Mortgage in Arrears: Process With Your Lender

If you have a mortgage in arrears, do not ignore your situation. The longer you wait to start working towards a solution, the fewer options you will have available to you. To avoid foreclosure, the most important step is to confront your mortgage payment problem immediately.

Do not wait until you receive telephone calls from your mortgage lender or a formal demand letter from your mortgage lender’s lawyer regarding your mortgage in arrears. By then, the formal pre-foreclosure proceedings have started and depending on your individual circumstances, your lender may not be willing to accept any outstanding mortgage payments from you to reinstate the mortgage and bring the mortgage back into good standing.

if you have received a demand letter from your mortgage lender, you are facing pre foreclosure and time is of the essence. It is important that you contact your lender immediately in regards to their demand letter. Acting fast will help to keep your best options open to resolve your mortgage in arrears and avoid foreclosure.

Re-Structuring Your Mortgage Payment Plan

If you have a mortgage in arrears, your lender may be willing to cut down your mortgage costs by re-structuring your mortgage payment plan or renegotiating your mortgage all together to provide you with the opportunity to resolve your current financial challenges and get your mortgage payments back on track.

Is Your Mortgage in Arrears? Contact Us

We specialize in taking over house payments and the house, townhome or condo associated with the mortgage. We provide professional solutions to people experiencing difficulty making their mortgage payments each month, people experiencing difficulty selling through traditional methods and people who just want out of their property situation for any reason regardless of your situation and regardless of the condition of the property.

Mortgage in Arrears: Get Your Mortgage Payments Back On Track

If you are experiencing difficulties making your mortgage payments each month or are currently facing a mortgage in arrears, contact us.  We can help you get your mortgage payments back on track and help you re-instate your mortgage with your lender to bring your mortgage back into in good standing.

We provide immediate solutions to people who need immediate relief from their mortgage and property situation. We provide flexible, pre-negotiated terms that can give you the best value for your house, townhome or condo and we can provide you with more money with none of the hassles normally involved in selling to enable you to move on from your property situation with peace of mind.

If You require relief from your mortgage payments and property situation, contact us. 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.

We don’t know how many months you have been looking for a solution to your situation. Don’t procrastinate. Don’t let your property situation become a liability or a burden. Contact us to discuss your situation in more detail and what solutions we can provide.

If You Are Facing Unmanageable or Unwanted Mortgage Payments, Contact Us.

We take over mortgage payments and the house, townhome or condo associated with the mortgage. We have handled hundreds of purchase situations and have helped many people facilitate a non-stressful real estate transaction.

Mortgage Problems and Solutions. We Take Over Mortgage Payments in Vancouver BC. Contact Us

If you find yourself facing financial difficulties, as a result of job loss, family income reduction, or other reasons, it can be an overwhelming experience leaving you feeling uncomfortable and unsure of what to do.

“I can’t pay my Mortgage, What Should I Do?” If you are struggling to pay your mortgage payments each month or if you can’t pay your mortgage payments at all, there are steps that you can take that may help you to avoid foreclosure and get your current financial situation back on track.

Our Company, GVC Property Solutions Inc., is a well established Real Estate Investment Company that provides professional solutions to people who are experiencing difficulty making their mortgage payments each month and want to avoid foreclosure, people who are experiencing difficulty selling their property through traditional methods and people who require relief from their property situation for any reason regardless of your situation and condition of the property in any location of Vancouver, BC, the Lower Mainland, BC, and the Fraser Valley, BC.

If you are facing mortgage problems, contact us for Free Consultation to discuss your mortgage problems and solutions that are available to you in your individual situation. 

Listed below are steps that you can take to help clarify your financial situation before you decide what steps to take to find an alternate solution to foreclosure.

Clarify Your Financial Picture: Mortgage Problem and Solution

Prepare a detailed list of your financial obligations including any credit cards, loans, household bills with the amounts owing and their due dates. Be sure to include information about your current income, savings accounts, investments, and any other assets.

Create A Budget: Mortgage Problem and Solution

Creating a budget is a good opportunity to get your finances back in order. A budget needs to be realistic and based on your current circumstances. After you have prepared your budget outline, you will likely see areas where you can cut back with your spending. Start with expenses that are easy to reduce and try cutting them back by half.

Track Your Spending: Mortgage Problem and Solution

If you can’t see where to reduce your spending, try tracking your expenses for a few weeks to get a better handle on your spending habits. Track expenses that you’re not sure about. For example, if you shop at all-inclusive grocery stores, if you buy groceries and new patio furniture all at the grocery store, track what you spend in that store. You might be surprised how much you buy in addition to your groceries. In addition, track how much you spend on buying coffee and food on the go. Every dollar you spend counts. 

Stay Informed: Mortgage Problem and Solution

The more information you have at your disposal on managing your finances, the easier it will be to make the right decisions about solving your mortgage payment difficulties and getting the help you need to get your mortgage payments back on track.

We Can Help. We Specialize in Mortgage Problems and Solutions     

Our Company has been providing professional solutions for 25 years to people who are experiencing difficulty paying their mortgage payments each month, people who are experiencing difficulty selling their property through traditional methods and people who require relief from their property situation for any reason. 

We can buy your house, townhome or condo if you require an immediate or flexible sale or if you need relief in regards to your mortgage payments or property situation in general. We can usually offer you the market value of your property regardless of your situation and regardless of the age or condition of the property. We are not realtors and we do not charge any real estate commissions when we buy your house, townhome or condo.

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. Contact us to discuss your situation in more detail and what solutions we can provide. We have handled hundreds of purchase situations and have helped many people facilitate a non-stressful real estate transaction.

Is Your Mortgage in Arrears in Surrey, BC? We Can Help. Contact Us.

Facing mortgage arrears can be a stressful experience. It is important that you act quickly to solve your mortgage payment situation to avoid the repercussions of missed mortgage payments. We can assist you with your mortgage in arrears in Surrey, BC and all other surrounding areas in the Lower Mainland, BC and the Fraser Valley, BC. We can help you get your mortgage payments back on track and/or reinstate your mortgage with your mortgage lender and keep your mortgage in good standing.

Our Company, GVCPS Inc., is a Real Estate Investment Company that specializes in taking over mortgage payments and the house, townhome or condo associated with the mortgage in Surrey, BC and all other areas of the Lower Mainland, BC and the Fraser Valley, BC.

Along with our affiliated Companies, we have been operating for 25 years providing professional solutions to people who are experiencing difficulty paying their mortgage payments each month, people who are experiencing difficulty selling their property through traditional methods and people who require relief from their property situation for any reason.

With any residential mortgage in arrears in BC, it is important that you take quick action. Under the law in BC, a mortgage gives your mortgage lender a “charge”, meaning an interest or a right against your property that was purchased. That charge gives your lender rights if you “default” on the mortgage.

The most common way for a mortgage borrower to default is by not making payments towards the mortgage as promised per the terms of the mortgage contract with the mortgage lender.

What happens to my mortgage in arrears in Surrey, BC?

A mortgage in arrears for one missed payment will usually trigger your lender to send you a reminder letter. If your lender doesn’t hear from you or receive your missed payment(s), your lender will then follow up with a demand letter from their lawyer.

Under BC law, your lender must send you a demand letter before they can start legal foreclosure proceedings to take your house, townhome or condo.

  • The demand letter must say exactly what you owe. It must also say that: you have to pay a certain amount by a certain date to catch up on what you owe to “reinstate” your mortgage (restore it to good standing), or;
  • You have to pay the whole amount you borrowed (not just what you owe) plus interest and expenses to “redeem” your mortgage (pay it off).

Any mortgage in arrears in BC, gives your mortgage lender the right to “accelerate” (speed up) the mortgage. This allows your lender to claim your full balance owed to your lender under the mortgage, plus interest and other costs, even though your mortgage term hasn’t yet expired.

If you don’t do what the demand letter asks, your lender can start legal foreclosure proceedings to take your house, townhome or condo or sell the property to pay your mortgage debt.

If you receive a demand letter, don’t ignore it. This may be your only opportunity to get your mortgage payments back on track and reinstate your mortgage with your lender. If you ignore your lender’s demand letter, the legal foreclosure proceedings will proceed without you, As well, you will get little notice if your house, townhome or condo is sold, or if your lender tells you that you have to move.

Contact us regarding your mortgage in arrears in Surrey, BC.

If you are having difficulty making your mortgage payments each month or currently facing mortgage in arrears, contact us. We can help you get your mortgage payments back on track and/or reinstate your mortgage with your mortgage lender and keep your mortgage in good standing.

We can provide immediate monthly cash flow management solutions to your mortgage payment situation along with protecting any equity you may have in the property and help protect your credit. When we take over mortgage payments and the house, townhome or condo associated with the mortgage, we do not charge any real estate commissions, providing you with more money with none of the hassles normally involved in selling.

We work on a daily basis with people who need a professional and confidential transaction, people who need an immediate and flexible sale and people who need relief from a problem property or unwanted real estate situation.

This contents of this article is intended to convey general information only and not to provide legal advice.

I Can’t Pay My Mortgage, What Do I Do? Contact Us. We Can Help

If you are having trouble making your mortgage payments each month, you might be exploring various options and looking for an answer to your problem – “ I can’t pay my mortgage what do I do?”. Most people do not plan on missing any of their mortgage payments, however, there are a number of unexpected situations that can happen to you such as; you cannot mange your debt load, divorce, loss of your job, illness or a short-term or permanent disability that may prevent you from working or any other unforeseen financial situations that may arise that impact your ability to make regular mortgage payments.

  • We are a well established Real Estate Investment Company that specializes in helping people who are experiencing difficulty paying their mortgage payments each month. Our Company, GVC Property Solutions Inc. (GVCPS), can 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. If you are looking for a solution to your problem – I “ can’t pay my mortgage what do I do?”, contact us.

If you are experiencing short term financial difficulties or long term financial difficulties due to any reason and struggling with your mortgage payments and as a result, missing your mortgage payments, foreclosure will be inevitable. There are alternatives to foreclose that are available to you when you act quickly at the first sign of financial difficulty. The key is to know what your options are as well as taking immediate action when the unanticipated happens.

“I can’t pay my mortgage what do I do?” can be an overwhelming experience leaving you feeling uncomfortable and unsure of what to do. By following these three simple steps, you can make a big difference in resolving your financial difficulties:

1) Talk to your mortgage professional

  • To increase the chance of successfully managing your financial situation through early intervention, call a mortgage professional at the first sign of financial difficulty and communicate that I “can’t pay my mortgage what do I do?”  Our Company, GVCPS, has a team of professional mortgage consultants who have  extensive hands-on experience that can help you with your mortgage payment difficulties and help you get back on track with your mortgage payments.

2) Clarify your financial picture

  • In order to help your mortgage professional as well as yourself fully understand your financial situation, prepare a detailed list of your financial obligations including any credit cards, loans, household bills with the amounts owing and their due dates. Be sure to include information about your current income, savings accounts, investments, and any other assets.

3) Stay informed

  • The more information you have at your disposal on managing your finances, the easier it will be to make the right decisions. Take Charge of Your Debts is an online tool from the Government of Canada that is designed to help borrowers lunderstand debt problems and includes information on making a budget, budget counselling, collection agencies, credit, and credit repair. To view this tool, log on to www.ic.gc.ca (Industry Canada) and search for “Take Charge of Your Debts”.

With early intervention, cooperation and a well executed plan, this can help you prevent foreclosure, will help you get your mortgage payments back on track and will help protect your credit from being damaged any further from previous mortgage payments that you have missed.

When you are in the situation I “can’t pay my mortgage what do I do?”, you may need answers to the following questions:

1) I “can’t pay my mortgage, what do I do?” Will my lender help me resolve my financial difficulties to get my payments back on track or will my lender just foreclose?

In most situations, your lender doesn’t want to repossess (take back) your property. (A lender can be a bank, credit union, insurance company, private individual, or loan company.) Foreclosure can be a long and expensive process for your lender. They would rather have you get your payments back on track and keep paying them.

But if you default and do not get your payments back on track after your lender has given you a second chance, your lender will take legal action to repossess or sell your property through foreclosure.

2) I “can’t pay my mortgage” How many mortgage payments can I miss before my lender starts the foreclosure process?

When you default (don’t make a payment) on your mortgage, you don’t automatically lose your property. On default, your lender has the right to accelerate (speed up) your mortgage contract. This allows your lender to claim the full balance owed on your mortgage debt plus interest and other costs, even though the mortgage term hasn’t yet expired. Your lender can use the legal process of foreclosure to repossess (take back) your property or sell it to pay the mortgage debt.

As soon as you miss a mortgage payment, most lenders act quickly. They often will either call you and/or send a reminder letter to you first in regards to your missed payment. If your lender doesn’t hear from you or if your lender does not receive your missed payment after that, the lender’s next step is to send you a demand letter. In BC, your lender or their lawyer must send you a demand letter before starting foreclosure proceedings.

The demand letter must state exactly what you owe, and that:

  •  you have to pay a certain amount by a certain date to catch up on arrears (what you owe) to reinstate (restore to good standing) your mortgage, or
  • you have to pay the whole amount you borrowed (not just the arrears) plus daily interest and other expenses to redeem (pay off) your mortgage

The exact requests in the demand letter depend on the wording in your mortgage and what your lender wants to do. If you don’t do what the demand letter asks, your lender can start foreclosure proceedings in court by filing a BC Supreme Court form called a petition. Your lender will serve you with (give you) a copy.

You (the respondent) can respond to a reminder or demand letter by doing one of the following:

  • Solve the problem (by reinstating or redeeming the mortgage)
  • Go to court (after you receive the petition — to fight the foreclosure, to get more time, or to cooperate)

3) I “can’t pay my mortgage, what do I do?” What will happen if I do nothing?

You may want to just ignore the demand letter from your lender, but be sure you know what the consequences are first. Doing nothing not only has serious consequences, this will also ruin your credit.

You can live in your property without making mortgage payments while the foreclosure proceedings are going on. This could take several months or longer. But it also means that; you don’t get any say in the court proceedings, which will go ahead without you, you may get little or no notice if the property is sold, or if you have to move and you may have to leave your property much earlier than if you had appeared in court

The court may order your property to be sold. If the money from the sale doesn’t pay all of your  mortgage debt, your lender will have an enforceable judgment (court order) made against you for the shortfall (remaining amount). Your lender can try to collect this from you for up to 10 years.

It’s very important that you talk to your mortgage professional about your options as foreclosure can be prevented if you take immediate action at the first sign of financial difficulty that impacts your ability to make regular mortgage payments. Contact one of our mortgage professionals at GVCPS to find a solution to your financial difficulties. 

The following options may also help you if you are in the situation – I “can’t pay my mortgage what do I do?”:


Refinance

You can pay off your whole mortgage with one lender by getting another mortgage from another lender (refinance). The new mortgage has to be big enough to pay the other mortgage plus any costs that you owe.

Redeem the mortgage

If your mortgage term has ended, you can do one of the following to pay your lender:

  • get a new mortgage from another lender (refinance), or
  • sell your property yourself

You have to pay off the whole amount you borrowed plus daily interest and other costs. You should know beforehand what those costs might include.

Reinstate the mortgage

If you missed making some payments but think you can manage paying regular mortgage payments in the future, call your lender right away. Try to work out a way to reinstate your mortgage. This means you pay all of the outstanding mortgage amounts to bring the mortgage back into good standing. You also have to pay anything it costs your lender to collect from you, and may include legal fees. You can reinstate a mortgage if the mortgage term hasn’t expired and your lender agrees to reinstatement. Most lenders don’t want to own buildings. Lenders would rather have you keep the property and keep paying them. 

Consolidate your debt into one easy payment

, home equity loan or line of credit.

Sell your property

You may want to sell your property right away and pay your lender if:

  •  you can’t reinstate your mortgage
  •  your property is in good condition and can be sold
  •  your property is worth at least as much as the amount you owe your lender (plus any other mortgage or judgment registered against your title), and
  • you don’t want to or can’t get a new mortgage

You reduce the legal costs and interest you have to pay if you sell your property as soon as possible. This option may be more attractive if you have equity in the property.

If you are in the situation, I “can’t pay my mortgage what do I do?contact our Company, GVCPS. We are a well established real investment Company that buys houses, townhomes and condos quickly. We also take over mortgage payments and the property associated with the mortgage. 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. 

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. Contact us to discuss your situation in more detail and what solutions we can provide. We have handled hundreds of purchase situations and have helped many people facilitate a non-stressful real estate transaction.

References:
Canada Mortgage and Housing Corporation
Law Foundation and Legal Services Society of BC
Image Credit:
https://precondo.ca/

Take Over My Mortgage Payments? Contact Us. We Assume Mortgage Payments.

An assumable mortgage is a type of financial arrangement where an outstanding mortgage debt and it’s terms are transferred from the current mortgage holder to a new buyer. Our Company, GVCPS, is a Real Estate Investment Company that specializes in assuming mortgage payments if you are experiencing difficulty paying your mortgage payments each month or if you require relief from your house, townhome or condo for any reason, in any location of Vancouver, BC, the Lower Mainland, Fraser Valley, BC.

Do You Charge Any Fees or Commissions When You Take Over my Mortgage Payments? No, we do not charge any real estate commissions or fees when we take over your mortgage payments.

What Happens to the House, Townhome or Condo When You Take Over My Mortgage Payments?

We assume mortgage payments and the property associated with the mortgage regardless of the condition of the property.

If you need relief from unmanageable or unwanted mortgage payments, we can assume your mortgage payments and take over the property associated with your mortgage. 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 and monthly strata fees.

Talk to one of our Professional Real Estate Consultants, it is important to understand that a mortgage that has been assumed by a third party does not mean that you, the original mortgage holder, are not still responsible for the mortgage debt and the mortgage payments. You may still may be held liable for the mortgage debt and payments, which, in turn, could affect your credit rating. To avoid this, you must release your liability in writing at the time of the mortgage assumption and the lender must approve the release request by releasing you from all liabilities in regards to the mortgage loan.  Our experienced Real Estate Consultants can help you to ensure that the process is performed correctly with your mortgage lender.

  • An assumable mortgage transaction is where the lender will allow our Company to take over or “assume” your mortgage without changing any of the terms of the mortgage. An assumable mortgage allows us to assume your current principal balance, interest rate, repayment period and any other contractual terms of the mortgage.
  • When we assume mortgage payments, you are provided 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. If you are in a situation where our Company assuming mortgage payments will provide you with solutions, our Real Estate Consultants will review your original mortgage documents to ensure that your mortgage debt is assumable. We will discuss assuming your mortgage debt with your mortgage lender in detail and also provide you with further support throughout the remaining assuming mortgage payment process.

Some mortgage lenders have option clauses in their mortgage contracts that expressly forbid assumptions of the mortgage, or, the mortgage contract specifies that the mortgage must be paid out on the sale of the property. If this is the case with your mortgage loan, we can still provide you with solutions to your mortgage payments. Even if your mortgage is not assumable, we still can provide solutions to your situation.

When We Assume Mortgage Payments, Our Real Estate Consultants Will Consider the Following:

  • Compare interest rates: It may make financial sense to assume the existing loan at a lower interest rate than the current rate.
  • Compare loan fees: Lenders are required to give borrowers a loan estimate, which is an estimate of closing costs which consists of all the costs associated with obtaining a mortgage.
  • Obtain a copy of the property title and copy of the mortgage agreement: We will verify if there are any other charges registered against the property and verify if the mortgage debt is truly assumable, if the mortgage debt is not assumable, we can still provide you with alternative solutions to your mortgage and property situation.

How Long Will it Take For You to Take Over My Mortgage Payments?

We know the real estate and mortgage industry. If you are facing  difficulties paying your mortgage payments each month, we can take over your mortgage payments immediately or at a later date that is more convenient with your timeline. We can assume your mortgage payments and take over the house, townhome or condo associated with the mortgage regardless of your situation.

When we assume mortgage payments, you are provided 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.

ARE YOU FACING MORTGAGE PAYMENT PROBLEMS?

If you are facing mortgage payment problems, ensure that your mortgage lender is abiding by your mortgage contract in regards to charging you late fees, penalty fees and higher interest rates on your mortgage payment arrears.

If you are experiencing mortgage payment problems, it can be an overwhelming experience, leaving you feeling uncomfortable and unsure of what to do. When unforeseen financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. A wider variety of solutions will be available to you the sooner you act.

If you are having trouble making your mortgage payments each month, defaulting on your mortgage may add to the cost of various fees imposed by your mortgage lender on the amount that you already owe, depending on your mortgage contract.

Section 8 of the Federal Interest Act of Canada is intended to protect property owners against abusive lending practices, while recognizing that generally speaking, parties are entitled to freedom of contract. The prohibition against extra charges on arrears remains in place for loans secured by a mortgage.

While the Interest Act provides some protection for consumers with regard to interest and prepayment charges, banks have taken advantage of loopholes and gaps in the law to the detriment of consumers, which has resulted in an unregulated system. In 2010, the federal government’s budget included a promise to bring clarity to the subject of mortgage penalties. Despite the promises made by the federal government in the 2010 budget, still no progress has been made.

The federal Interest Act of Canada prohibits any fine, penalty or an interest rate in a mortgage that has the effect of increasing the charge on arrears higher than the mortgage rate which would apply if the borrower was in good standing.

If you are experiencing mortgage payment problems and are facing foreclosure, be sure to review the fees and charges that are being charged to your account by your mortgage lender as they may not be enforceable.

Our Company understands the stress and hassles that you face when you are experiencing unmanageable or unwanted mortgage payments, experiencing difficulty selling your house, townhome or condo through traditional methods or when you just need relief from your property situation for any reason.

When you are in a difficult real estate situation, you need an immediate and professional solution, contact us. 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.

Taking Over Someone’s Mortgage Payments? The Do’s & Dont’s

Anyone can sell you a mortgage; We can show you how to use your mortgage effectively to your financial advantage even if you are having difficulty paying your mortgage payments or have negative equity in the property.

Are you experiencing difficulty making your mortgage payments each month, experiencing difficulty selling your property or do you just want out of your real estate situation for any reason? Our Company, GVCPS, is a well-established Real Estate Investing Company that specializes in taking over mortgage payments and the property associated with the mortgage.

We take over mortgage payments for houses, townhomes and condos in any situation, in any condition and in any location of Vancouver, BC, the Lower Mainland and the Fraser Valley, BC. Our goal is to provide you with immediate financial relief and peace of mind regarding your real estate situation when we  take over your mortgage payments and the property associated wit the mortgage.

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. We provide flexible, pre-negotiated terms that can give you the best value for your property and can provide you with more money with none of the hassles normally involved in selling.

Are You Thinking About Taking Over Someone’s Mortgage Payments?

If you are planning on taking over someone’s mortgage payments, it is recommended that you seek the counsel of a mortgage professional or a legal adviser first.

There are many advantages of taking over someone’s mortgage payments, however, taking over someone’s mortgage payments is a big decision to make. Going about it the wrong way can prove costly in the long run that may affect your ability to borrow in the future.

The Do’s and Don’ts of Taking Over Someone’s Mortgage PaymentsDO the Following:

  • Prior to taking over someone’s mortgage payments, seek counsel from a professional mortgage consultant at a Real Estate Company or a legal advisor
  • Before you make the commitment to take over someone’s mortgage payments, ensure that you are financially capable of taking on this extra monthly expense, especially if this will be a long-term arrangement
  • Ensure that there is a legal agreement in place between you and the person(s) who owns the mortgage debt and the person(s) who are registered on the property title that clearly outlines all of the terms and conditions that you and the other party(ies) have agreed to
  • Verify through the mortgage and property title documentation who all persons are that are registered on both the mortgage loan and the property title

DON’T Do the Following When Taking Over Someone’s Mortgage Payments:

  • Don’t pay the person who owns the mortgage debt directly. Pay the mortgage lender directly to ensure that the mortgage payments are being applied to the mortgage loan each month
  • Don’t take over mortgage payments from someone who has an outstanding judgement or any other charge registered against them on the property title if this will affect the amount of funds you are to receive when the property sells
  • If there is more than one person on the mortgage loan or property title, don’t execute an agreement to take over someone’s payments with only 1 of the parties. Ensure that all parties on the mortgage loan and property title agree to you taking over the mortgage payments and ensure that all parties execute the legal agreement with you

If You Are Taking Over Someone’s Mortgage Payments, Your Documentation Checklist Should Include:

  • The executed legal agreement between you and the person(s) who owns the mortgage debt and the person(s) on property title
  • Up to date contact information of the person(s) who owns the mortgage debt and person(s) registered on the property title
  • The mortgage lender’s contact information
  • A copy of the mortgage loan
  • A copy of the property title
  • Any current tenancy agreement that is in place for the property

Taking over someone’s mortgage payments isn’t something that most people are aware of and isn’t something that most people would consider.  Many owners who bought or refinanced in recent years, owe more than what they could sell the property for now.  If you are considering taking over someone’s mortgage payments, there are many do’s and don’ts that you should be aware of.

If You Are Taking Over Someone’s Mortgage Payments, You Should Also Ensure the Following:

  • Confirm all of the details of the legal documents relating to the mortgage including; the mortgage balance, interest rate and mortgage term renewal
  • Ensure that you have enough funds on reserve to make the mortgage payments in the event that you experience unforeseen financial difficulty that may impact your ability to make regular mortgage payments in the future
  • Ensure that your lawyer covers all of the terms and conditions of the transaction in the case of default and the remedy that will be available to each party

If You Are Taking Over Someone’s Mortgage Payments, You Should Not Do the Following:

  • Some people’s mortgage payments are extremely high if they were unable to qualify for a low interest rate. Don’t take over someone’s mortgage payment that will leave you with cash flow difficulties at the end of each month
  • If you are experiencing financial difficulties, don’t stop paying the mortgage payment altogether and don’t ignore your contractual obligations with the mortgage debt holder. If you are experiencing difficulty making the mortgage payment, it’s important for you to take quick action to find a solution.

If You Are Taking Over Someone’s Mortgage Payments, You Should Also Keep In Mind That:

  • There are a number of steps that you can take to help someone with their mortgage payments in a way that protects both of your interests in the property
  • You should seek the counsel of a mortgage professional or a legal adviser before you take over someone’s mortgage payments

Mortgage Payment Difficulties and Taking Over Someone’s Mortgage Payments:

If you are having difficulty paying your mortgage payments, it’s important for you to take quick action. With early intervention, you will have more options available to you to find a solution to your mortgage payment difficulties.

Along with our affiliated Companies, we have been operating for 25 years providing professional solutions to people who are experiencing difficulty paying their mortgage payments each month, people who are experiencing difficulty selling their property through traditional methods and people who require relief from their property situation for any reason.

When we take over mortgage payments and the house, townhome or condo associated with the mortgage, we do not charge any real estate commissions, providing you with more money with none of the hassles normally involved in selling.

Facing Mortgage Problems in Vancouver, BC?

A mortgage is a long-term responsibility and most likely the largest loan that you will need to pay back. Because of the amount of money that you borrow for a mortgage and the time it takes to pay it back, getting a mortgage comes with certain risks including unexpected life events like job loss, a serious illness or divorce that cause unforeseen financial circumstances that can impact your ability to make regular mortgage payments.

If you find yourself facing mortgage problems in Vancouver, BC, for any reason, it’s important for you to take quick action to avoid your mortgage lender commencing legal foreclosing proceedings against you along with the possibility of ruining your credit in the process.

Many mortgage difficulties and mortgage problems in Vancouver, BC will arise when you can’t pay your mortgage. When financial circumstances impact your ability to make regular mortgage payments, address the issue immediately with a Mortgage Problem Solution Provider. With early intervention, cooperation and a well-executed plan, you can work together with a Mortgage Problem Solution Provider to get your payments back on track, protect any equity you have in the property as well as protecting your credit.

If you have missed mortgage payments, your mortgage lender may call you to attempt to resolve the payment issue or your lender will send you a formal demand letter that initiates the formal foreclosure process. If you have received a demand letter from your mortgage lender, it is imperative that you act fast. Depending on your situation, your lender and how many payments you have missed, there may still be the option available to you to reinstate your mortgage and avoid foreclosure. When you default on your payments and you act fast, a Mortgage Problem Solution Provider can help you minimize any loss and help manage your risk.

The more time you wait to find a solution to your situation, the less options your mortgage lender will be willing to provide. You need to show your mortgage lender that you are immediately willing to take action to resolve your missed mortgage payments when it comes to protecting your mortgage, your equity and your credit.

There are many mortgage difficulties and mortgage problems. If you find yourself facing financial difficulties, as a result of job loss, family income reduction, or for other reasons, it can be an overwhelming experience leaving you feeling uncomfortable and unsure of what to do. By following these three simple steps, you can make a big difference in resolving your financial difficulties.

  1. Contact a Mortgage Problem Solution Provider to discuss your situation in detail.
  2. Clarify your current financial situation – what is your current financial reality?
  3. Stay informed – the more information you have access to to in regards to help manage your finances, the easier it will be to make the right decisions in regards to financial planning and managing your debts.

If you are facing mortgage problems in Vancouver, BC – ask a mortgage problem solution provider to explain your options to you. For people who require a solution to their mortgage and property situation, mortgage problem solution providers specialize in taking over mortgage payments and the property associated with it. They provide immediate solutions that enable people who need to move on from their situation to keep their former monthly mortgage payment in their pocket or bank account.

With extensive experience providing Mortgage Solutions for people with credit or income challenges, Mortgage Problem Solution Providers offer services for Best Rate Mortgages, Bad Credit, Self Employed, Private Mortgages, 1st 2nd & 3rd Mortgages, Foreclosure, Debt Consolidation and Home Equity loans for Vancouver, BC, the Lower Mainland and Fraser Valley, BC.

Our Company, GVC Property Solutions Inc. (GVCPS) is a Mortgage Problem Solution Provider in Vancouver, BC, the Lower Mainland and Fraser Valley, BC. We have extensive hands on experience in helping people who are experiencing difficulties paying their mortgage or people who are experiencing difficulty with their real estate situation for any reason.

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. If you are experiencing difficulty paying your mortgage, contact us, we provide free consultation to discuss different options that are available to your situation 604-812-3718 or info@gvcps.ca.

Facing Mortgage Problems? We Provide Solutions

While the process is meant to be convenient for you to own your own property, some people can’t make their mortgage payments. People who have fallen behind with their payments inevitably face foreclosure and possible bankruptcy.

If you are having trouble making your payments, contact your mortgage provider to discuss your options as soon as you can. The longer you wait to talk to your lender to work towards a solution, the fewer options you will have. Many mortgage providers are expanding the options available to mortgage borrowers who are having problems making their mortgage payments – it’s worth calling your mortgage provider even if your request has been turned down before.

Mortgages are typically long term loans and until you pay off your mortgage in full, you need to renew the outstanding balance for the next term of your mortgage when your current mortgage term reaches its maturity date. Your mortgage lender will not renew your mortgage term if you have not been making your mortgage payments or if you currently have fallen behind on your mortgage payments.

If you’re having problems paying your mortgage, you must take action quickly to avoid foreclosure, possibly falling into debt and damaging your credit.

“Help, I have no equity or I have negative equity”

If the market value of the property has fallen below the outstanding amount of your mortgage balance, then you are underwater. Depending on the decrease in value of the property since the purchase, the property will also have no equity or negative equity.

If you have found yourself in a situation where you can’t pay your mortgage, there is help available through Mortgage Problem Solution Providers. They will help you speak to your lender in regards to finding a solution through a modification of mortgage, a forbearance agreement, a refinance or finding you a new mortgage lender. If you are underwater with your mortgage, in some cases, you can still get a new mortgage at a more affordable interest rate with the help of Mortgage Problem Solution Providers.

If a borrower with a $500.000.00 mortgage debt sees their home value decrease to a market value of $475,000.00, the mortgage is considered to be an underwater mortgage. If the borrower had paid $50,000.00 of the principal on their mortgage loan resulting in a principal balance of $450,000.00 then they are still considered to have $25,000 in positive equity that may be utilized in a home equity loan.

“Help, I’m having a problem making my payments”

If you’re having a problem making your payments, Canadian Mortgage and Housing Corporation (CMHC) has a variety of default management tools which can be used to effectively manage many loan default situations. CMHC is also willing to consider other alternatives proposed by the mortgage lender to resolve or avoid mortgage payment default. CMHC’s Claims and Default Management Team is available to assist Approved Mortgage Lenders at anytime, from early delinquency to filing a mortgage insurance claim and CMHC has the expertise to help lenders manage unusual or complex accounts.

CMHC will not directly give money to people to make their mortgage payments. Instead, the Government may ask a distributing organization or Mortgage problem solution provider companies like GVCPS Inc., a real estate investment company to provide mortgage payment solutions to the mortgage borrower. CMHC can help banks and other mortgage lenders manage their residential mortgage lending business. When a borrower default occurs, CMHC works with your mortgage lender to help manage your mortgage lender’s risk of delinquent mortgages and GVCPS Inc., takes over the mortgage borrower’s mortgage payments.

If you are having difficulty paying your mortgage payments, contact your mortgage lender to discuss the options for an extension of repaying your missed mortgage payments.

“Help, I’m 2 payments behind”

If you are falling behind with your mortgage payments, a modification of your mortgage may be available. A modification of your mortgage is generally used when the mortgage borrower is not in a position to adhere to the original mortgage terms agreed to with the lender, however, it can also be used to pay off your mortgage faster by making higher monthly payments.

The common modifications that can be made to your mortgage agreement are:

  • The monthly payments and the loan period can be adjusted to reflect changes in your financial situation
  • The interest can be modified from an adjustable rate to a fixed rate
  • Penalties can be waived

The Mortgage problem solution provider companies can help you with a modification of your mortgage. Mortgage loan modification can save you from facing foreclosure, which is inescapable if you do not keep up with your mortgage payments. You may request your lender to change the terms, like reducing the size of monthly payments to align it with the change in your income, which in turn would also mean an extension of the total repayment period.

If you’re lucky, your mortgage lender may even allow you to suspend payments for some time. Such a measure is aimed at giving you time to get out of your financial difficulties and the payments are resumed at an agreed upon later date. Once you start paying the mortgage lender again, you may ask for an extension of the repayment period or make larger repayments so that the mortgage can be brought back on schedule.

“Help, I’m facing foreclosure”

If you fall for behind with your mortgage payments and you have received a demand letter from your mortgage lender”s lawyer, there are still a number of strategies to help you stop foreclosure, manage your debt load and help renegotiate any of your complex financial entanglements.

Mortgage lenders want homeowners to pay their mortgages. The foreclosure process can be time consuming and costly to your mortgage lender so they have a vested interested in helping a client through a financial crisis. There may be an opportunity to renegotiate the mortgage over a longer period of time, or at a lower interest rate, or for you to pay a smaller monthly amount for a short period if you’ve had employment difficulties.

The most important step is to contact the mortgage problem solution provider company immediately and explain why you’re having a problem making your payments. In some cases, the foreclosure process might even be stopped by some mortgage lenders when back payments, interest and legal charges are repaid in full by the defaulting borrower. There are many repayment scenarios and this is why it is so important to speak to your lender immediately about your financial problems.

When unforeseen financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. With early intervention, cooperation, and a well executed plan, you can work together with your mortgage problem solution provider to find a solution to your financial difficulties. Contact GVCPS Inc., a mortgage problem solution provider with 25 years of experience helping people who are facing difficulties paying their mortgage. GVCPS Inc. can help you by protecting any equity you may have in the property as well as help you protect your credit. Contact GVCPS Inc. 604-812-3718 or info@gvcps.ca.