Mortgage Brokers in Abbotsford, BC – GVCPS

Finding a good mortgage broker involves more than just a mortgage broker who can get you a good interest rate. You want to work with the best mortgage companies who are staffed by professionals that will keep your best interests in mind when making decisions regarding your mortgage and property.

If you are buying a personal property, an investment property, refinancing or if you are facing unmanageable or unwanted mortgage payments, it is in your best interest to have access to knowledgeable mortgage advice from the best mortgage brokers and real estate consultants in regards to your situation.

A mortgage broker acts as an intermediary between you (the borrower), and the mortgage lender. A mortgage broker has access to numerous mortgage lenders from banks to credit unions to private lenders. Having numerous lenders to choose from, a mortgage broker can help you, the borrower, connect with a lender that will benefit you with your unique needs and financial situation.

If you are buying a personal property, buying an investment property or are refinancing, our mortgage brokers in Abbotsford, BC, will match you with the best mortgage lender in regards to your individual needs and situation.

If you are experiencing unmanageable or unwanted mortgage payments, experiencing difficulty selling your property through traditional methods or if you just want out of your property situation for any reason, our professional mortgage brokers and real estate consultants can help 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 the best mortgage brokers, contact us. We do not charge any fees for our consultation and our team of mortgage brokers are dedicated towards providing you with the right solution to your mortgage situation.

Our Company’s mortgage brokers and real estate consultants specialize in: lowering your monthly payments, consolidating your debt, refinancing your property, providing second mortgages, bad credit refinance, reinstating your mortgage when you have missed mortgage payments, helping you stop foreclosure, providing home equity loans, and home equity lines of credit and providing new mortgages for a personal or investment property

Our Company will offer you solutions that will meet your individual needs that are based on your current financial situation. If you are buying a personal property, an investment property, refinancing or if you are facing unmanageable or unwanted mortgage payments, it is in your best interest to have access to knowledgeable mortgage advice from the best mortgage brokers and real estate consultants in regards to your situation.

Our Company, GVCPS, is a well established Real Estate Investment Company that utilizes the services of the best mortgage brokers and real estate consultants in the real estate industry in Vancouver, BC, the Lower Mainland and Fraser Valley, BC, We can provide immediate solutions to your mortgage situation and we do not charge any fees or commissions, saving you time and money. 

 

Taking Over Someone’s Mortgage Payments? Consult With An Expert

 

People often come to us asking if they can “take over a mortgage loan” or “remove someone from the mortgage loan.” However, most people who request this, want to alter the underlying mortgage loan documents and change the ownership status of the mortgage loan.

To do this, the mortgage loan has to be an assumable mortgage and you have to be approved for a mortgage assumption by the lender who holds the loan. You have to submit a mortgage assumption application to the mortgage lender and the lender has to review your application and approve it – the assumption process is very similar to the process required to apply for your own mortgage.

Is taking over someone’s mortgage payments an option without having to go through the mortgage assumption process with the lender?

Yes, you can take over someone’s mortgage payments without having to go through the assumption process. You don’t need to disclose this to the lender either. As long as the mortgage payments are being made and the property title hasn’t changed, the lender is happy.

It is recommended that you seek the counsel of a mortgage professional or a legal adviser before you take over someone’s mortgage payments as there are a number of steps that you can take to help someone with their mortgage in a way that protects both of your interests in the property.

We provide immediate monthly cash flow management solutions to people who are facing unmanageable or unwanted mortgage payments along with protecting any equity you may have in the property and protecting your credit. We take over house payments and the house and we provide our client’s with more money with none of the hassles normally involved in selling.

Our Company, GVC Property Solutions Inc. (GVCPS), is a well-established Real Estate Investment Company that specializes in taking over mortgage payments and the house, townhome or condo associated with the mortgage. We offer the best value for residential properties that are any condition, any situation, any price range and in any location of Vancouver, BC, the Lower Mainland and the Fraser Valley, BC.

Can I just take over the mortgage title if I am taking over someone’s mortgage payments?

Not generally. The reason is that a lender can’t simply approve a home loan that does not have property or security attached to it. You also need to take into consideration that some lenders require that all persons who are on the mortgage title to also be registered on the property title as well.

The only exception to this rule is if the loan is an “assumable” mortgage by the lender’s definition and you will have to go through the mortgage assumption process and be approved by the lender as discussed earlier in this article.

If you know of someone who is experiencing unmanageable or unwanted mortgage payments and can’t make their mortgage payments for a house, townhome or condo, contact us to discuss the solutions that we can provide to their situation.  We provide Free consultation to discuss the different options that are available and we do not charge any fees or real estate commissions. Office: 604-812-3718 Email: info@gvcps.ca 

Can I be added to the mortgage title?

Yes, however, this step is not mandatory if you are taking over someone’s mortgage payments.

You can be added to the mortgage title as long as the lender and all persons who are currently on the mortgage title agree to it, however, depending on your agreement with the person who’s mortgage payments you are taking over, you are taking on part responsibility for the mortgage and if you are not registered on the property title, you will not be entitled to receive any money if the registered owner sold the property, unless this is stated in your legal agreement with the registered owner(s) of the property.

Ensure You Know How to Take Over Someone’s Mortgage Payments Legally

There are many advantages of taking over someone’s mortgage payments, however, taking over someone’s mortgage payments is a big decision to make. If you are taking over someone”s mortgage payments, it is advisable that you first seek independent legal advice.

Going about it the wrong way can prove costly in the long run with future legal disputes that may affect your ability to borrow in the future and putting you under financial and emotional strain if you already have your own home that you are making mortgage payments on.

If you know someone who is having difficulties making their mortgage payments each month, it is important that they first speak to a mortgage professional or their mortgage lender to see if they can provide any solutions. After that, speaking to a financial advisor and a solicitor about any other possible solutions may be necessary depending on the situation.

We understand the stress and hassles that people face when they are experiencing unmanageable or unwanted mortgage payments, experiencing difficulty selling their property through traditional methods or when someone just wants out of their property situation for any reason. We specialize in buying properties that are difficult to sell quickly and we specialize in taking over mortgage payments and the house, townhome or condo associated with the mortgage. Contact us to discuss the different options that are available to your situation. 

I Can’t Pay My Mortgage, What Do I Do? Ask 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.

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 staff and business associates with extensive hands-on experience that 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. Contact one of our mortgage professionals at GVCPS today for Free Consultation. Office: 604-812-3718 Email: info@gvcps.ca or for more information, visit our Website: www.gvcps.ca

 

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)

Our Real Estate Investment Compnay, GVCPS specializes in helping clients reinstate their mortgage to bring your mortgage back into good standing. Our Company also buys houses on Terms through our Mortgage Take Over Program where 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 looking for an solution to your problem – I “ can’t pay my mortgage what do I do?”, contact one of our mortgage professionals for Free Consultation. Office: 604-812-3718 Email: info@gvcps.ca or for more information, visit our Website: www.gvcps.ca

 

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. Speak to one of our mortgage professionals at GVCPS to find a solution to your financial difficulties. Our Mortgage Problem and Solution Professionals at GVCPS offer free consultation to help you keep your mortgage in good standing with your lender and/or help reinstate your mortgage to avoid foreclosure. Various options will be provided to you depending on your individual financial circumstances. Contact one of our mortgage professionals for Free Consultation. Office: 604-812-3718 Email: info@gvcps.ca or for more information, visit our Website: www.gvcps.ca

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. Contact one of our Mortgage Problem and Solution Professionals at GVCPS today to help you reinstate your mortgage and get your payments back on track to avoid foreclosure 604-812-3718 or info@gvcps.ca.

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 it. 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 can help, contact one of our mortgage professionals today for Free Consultation. Office: 604-812-3718 Email: info@gvcps.ca or for more information, visit our Website: www.gvcps.ca

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

 

 

 

The Best Mortgage Brokers Near Me

If you are buying a personal property, an investment property, refinancing or if you are facing unmanageable or unwanted mortgage payments, it is in your best interest to have access to knowledgeable mortgage advice from the the best mortgage brokers and real estate consultants in regards to your situation. Our Company, GVCPS, is a well established Real Estate Investment Company that utilizes the services of the best mortgage brokers and real estate consultants in the real estate industry in Vancouver, BC, the Lower Mainland and Fraser Valley, BC.

We understand that it’s not easy to qualify for your own mortgage or even to be approved to be refinanced in today’s challenging real estate market with the new lending rules that have been recently applied. We also understand the stress and hassles that you face when you are experiencing difficulty paying your mortgage payments each month or when you just want out of your real estate situation for any reason. Discussing your mortgage situation and options with a good mortgage broker and real estate consultant is the key to finding the best solution to your situation and/or the best mortgage product that will suit your investment needs.

How Can Mortgage Advice Help You?

If you are experiencindifficulty making your mortgage payments each month, experiencing difficulty selling your property or if you just need relief from your mortgage and real estate situation for any reason, your mortgage broker or real estate consultant can help you find an immediate solution to your individual situation.

Through our Company’s Mortgage Take Over Program, we take over house payments and the property associated with it. 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.

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.

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 any equity you may have in the property and protecting your credit. Contact us today to discuss the solutions that we can provide to your situation 604-812-3718 or info@gvcps.ca.

Are You Looking to Refinance or Purchase a Property?

If you receive independent advice regarding your mortgage from a mortgage broker rather than just your individual bank, a mortgage broker will have access to multiple lenders with a wide variety of mortgage products rather than just one bank that will only be able to offer you a limited amount of mortgage products. The best mortgage brokers and real estate consultants can make a difference in finding an immediate solution to your individual mortgage situation and/or getting your mortgage application approved. Knowledgeable mortgage advisors and consultants will also get you a significantly better valued deal, potentially saving you thousands of dollars over your mortgage term. They will also help you choose the right mortgage solution and product to meet the needs of your individual situation.

One of the largest loans you will ever take on in your life is your mortgage. The loan is so big and getting approved with the lowest possible interest rate is not always simple. Previously, mortgage loans used to be limited only to banks and other lenders in your local area, but now, with the internet and modern banking regulations, you can expand your search online to find the best mortgage brokers and real estate consultants.

The best mortgage brokers are not restricted to any particular bank or lender and they will act solely in your best interests, providing you with peace of mind that the mortgage product they recommend will be the best available mortgage for your circumstances. When you are purchasing a property, the mortgage broker specializes in getting the best mortgage available for your needs. The mortgage broker will explain the various mortgage products and advise you on how much you can qualify for and help you prepare your application to increase your chances of being approved for a mortgage or a refinance.

We are pioneers in the mortgage and real estate industry and our specialized team of mortgage brokers and real estate consultants can offer you financial tools and expert advice to help you understand your options to your individual mortgage needs so you can make the best possible decisions.

Our Company’s Best Mortgage Brokers and Real Estate Consultants Specialize in the Following:

  • lowering your monthly payments
  • consolidating your debt
  • refinancing your property
  • providing second mortgages
  • bad credit refinance
  • reinstating your mortgage
  • helping you stop foreclosure
  • providing home equity loans, and
  • home equity lines of credit
  • new mortgages for a personal or investment property

Contact us today to discuss the solutions that we can provide to your individual mortgage and real estate situation 604-812-3718 or info@gvcps.ca. 

Mortgage Payment Problems? We Assume Mortgage Payments

An assumable mortgage is a type of financing arrangement where an outstanding mortgage debt and it’s terms are transferred from the current mortgage holder to a buyer. Our Company, GVCPS, is a Real Estate Investment Company that specializes in assuming mortgage debt and mortgage payments from mortgage holders. We are Assuming Mortgage Payment Experts that can help you if you are experiencing difficulty with your mortgage payments in Vancouver, BC, the Lower Mainland, Fraser Valley, BC.

WE ASSUME MORTGAGE PAYMENTS AND 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 it. 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. Through our Mortgage Take Over Program, you are provided with immediate monthly cash flow management solutions to your mortgage payments and mortgage debt.

Talk to our mortgage experts, 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 well established mortgage experts 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 mortgage experts 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 debt and your mortgage payments even if your mortgage is not assumable.

When we assume mortgage payments, our mortgage experts 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. We will help you with the loan assumption fees.
  • 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 debt and mortgage payments.

We know the real estate and mortgage industry. If you are facing  difficulties paying your mortgage payments each month, we can offer immediate and professional solutions to your situation. Contact us today 604-812-3718 or info@gvcps.ca.

If you need relief from unmanageable or unwanted mortgage payments, we can assume your mortgage payments and take over the property associated with it. Our Company, GVCPS, is a Real Estate Investment Company that specializes in assuming mortgage debt and mortgage payments from mortgage holders.

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 mortgage experts 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.

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.

To increase the chance of successfully managing your financial situation through early intervention, call your mortgage lender at the first sign of financial difficulty. Ask your mortgage lender about information on the options available for managing your financial situation.

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 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 which 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 buys houses, townhomes and condos. 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 specialize in providing you with immediate monthly cash flow management solutions if you are experiencing difficulty making your mortgage payments each month to ensure that any equity you may have in the property is protected along with your credit. Contact us today 604-812-3718 or www.gvcps.ca.

Facing Mortgage Problems in Delta, BC? Contact Us

Facing Mortgage Problems in Delta, BC? Ask Mortgage Problem Solution Providers: If you are having Mortgage Problems in Delta, BC, do not ignore your situation. The longer you wait to start working towards a solution, the fewer options you will have available to you.

If you find yourself facing financial difficulties as a result of job loss, family income reduction, divorce or other reasons and your situation is impacting your ability to make regular mortgage payments, confront your mortgage payment problem immediately.  

For all your Mortgage Problems in Delta, BC, contact your Mortgage Problem Solution Provider at the first sign of financial difficulty. They can help you increase your chance of successfully managing your financial situation through early intervention.

Mortgage Problem Solution Providers in Delta, BC will help you with the following options for getting your mortgage problems back on track and how to work with your lender:

  • Cutting down your mortgage costs.
  • How to manage your mortgage debt.
  • Renegotiate your mortgage.
  • How to work with your mortgage lender to find a solution to your financial difficulties.
  • If you are out or work, they can offer suggestions and help with mortgage costs.

If you are in a situation where making monthly Mortgage payments is difficult and you are facing Mortgage Problems in Delta, BC, a debt consolidation mortgage, a home equity loan or a line of credit may also be an option.

  • Refinance with a debt consolidation mortgage

As a homeowner, one way to start managing some of your higher-interest debt is to refinance your existing mortgage with a debt consolidation mortgage. Some mortgage types allow you to borrow additional money on your mortgage so you can consolidate your debts into one simple payment. This way, you can easily budget with a structured payment plan and an assured pay-off date.

  • Debt consolidation home equity loan or line of credit

Homeowners who are looking to consolidate their debts may have the option of using their home equity to secure a loan or line of credit. A home equity loan or line of credit allows you to obtain a lower interest rate and a higher credit limit by using the equity you’ve built in the property as security. By consolidating your debts into a home equity loan or line of credit, you will have the convenience of one consolidated payment rather than having several bills from different creditors.

This makes bill payments more manageable and the rate is usually lower, helping you pay off your debts sooner. With a home equity line of credit additional benefits include making interest payments only on the funds you use, not your total credit limit, and having ongoing access to funds up to your authorized credit limit.

You can also obtain information on the sale and rent back programs run by Mortgage Problem Solution Providers who help property owners who are struggling to pay their mortgage.

Facing Mortgage Problems in Chilliwack, BC?

 

Facing Mortgage Problems in Chilliwack, BC? Purchasing a property can be an expensive process and obtaining a mortgage is one of the most important decisions you will ever make. Most people do not have a 20% down payment to put towards the purchase of a property and a high-ratio mortgage is their only other option.

If you have purchased a property and are unable to pay your mortgage on a regular basis due to any reason, it is important that you take quick action. If you are struggling to keep up with all of your mortgage payments, it can be a very stressful and overwhelming experience, leaving you feeling uncomfortable and unsure of what to do. There are many different types of Mortgage Problems in Chilliwack, BC, but you do have options.

If you are experiencing difficulty making your mortgage payments each month in Chilliwack, BC contact a Mortgage Problem Solution Provider to discuss what solutions they can provide to your real estate situation.  Mortgage Problem Solution Providers in Chilliwack, BC provide free consultation and expert advice to help you with your situation.

When unforeseen financial circumstances or life events impact your ability to make regular mortgage payments, Mortgage Problem Solution Providers in Chilliwack, BC can help you get your mortgage payments back on track through a modification of mortgage, a forbearance agreement, a refinance or through a second mortgage.

To Overcome Your Mortgage Problems in Chilliwack, BC, Other Options Are Also Available to You:

If your mortgage is insured by Canada Mortgage and Housing Corporation, (CMHC), in the City of Chilliwack, BC, CMHC is also willing to consider other alternatives proposed by your Mortgage Problem Solution Provider to resolve or avoid mortgage payment default. In every case, your options will depend upon your individual financial circumstances.

Based on your individual financial circumstances, your Mortgage Problem Solution Provider may be able to propose one or more of the following alternatives to CMHC:

  • Converting your variable interest rate mortgage to a fixed interest rate in order to protect you from a sudden interest rate increase, should one occur.
  • Offering you a temporary short-term payment deferral. Your mortgage professional may be prepared to offer greater payment flexibilities, particularly if previous lump sum prepayments have been made, or if you have previously chosen an accelerated payment schedule.
  • Extending your original repayment period (amortization) in order to lower your monthly mortgage payments.
  • Adding any missed payments (arrears) to your mortgage balance and spreading them over the remaining mortgage repayment period.
  • Offering you a special payment arrangement unique to your particular financial situation.

To increase the chance of successfully managing your financial situation through early intervention, call your Mortgage Problem Solution Provider at the first sign of financial difficulty. With early intervention, cooperation, and a well executed plan, you can work together with your mortgage professional to find a solution to your financial difficulties and avoid mortgage payment default.

Facing Mortgage Problems in Abbotsford, BC?

Facing Mortgage Problems in Abbotsford, BC? Contact Us – We Are Mortgage Problem Solution Providers 

For thousands of Abbotsford, BC home owners, their monthly mortgage payments are among their top financial concerns. Many people realize that the mortgage on their house is the biggest financial commitment that they will likely ever make. As a result, a mortgage needs to be treated as the one debt obligation that you will need to ensure that you are paying for on time each month, if you want to keep your mortgage in good standing with your mortgage lender.

Unfortunately, it is common for home owners in Abbotsford, BC as well as home owners in the Fraser Valley, BC, to face unforeseen financial circumstances or unexpected life events that impact their ability to make their regular monthly mortgage payments.

If you are a homeowner and have fallen behind on your mortgage payments, you are not alone. When you are facing financial difficulties that impact your ability to make your regular mortgage payments, it is important for home owners in Abbotsford and the Fraser Valley, BC, to take quick action. At first, your mortgage lender may tolerate a few late payments, however, when your delinquent mortgage payments turn into missed mortgage payments altogether, a foreclosure action against you will be inevitable.

If you are having Mortgage Problems in Abbotsford, BC – What can you do?

The most important thing is not to ignore your mortgage payment problems or any telephone calls from your mortgage lender. To increase the chance of successfully managing your financial situation through early intervention, contact a Mortgage Problem Solution Provider at the first sign of financial difficulty. Ask the mortgage professional about information on the options available for managing your financial situation and they will help you find solutions with the following tips:

You may request a Loan Modification

A loan modification is a permanent restructuring of the mortgage where one or more of the terms of a borrower’s loan are changed to provide a more affordable payment. With a loan modification, your lender may agree to do one of more of the following to reduce your monthly payment:

  • reduce the interest rate
  • convert from a variable interest rate to a fixed interest rate, or
  • extend the length of the term of the loan.

Generally, to be eligible for a Loan Modification, you must:

  • show that you cannot make your current mortgage payment due to a financial hardship
  • complete a trial period to demonstrate you can afford the new monthly amount, and
  • provide all required documentation to your lender for evaluation.

Required documentation will likely include:

  • a financial statement
  • proof of income
  • most recent tax returns
  • bank statements, and
  • a hardship statement.

There are many different loan modification programs available, including proprietary (in-house) loan modifications and for mortgages insured by Canada Mortgage and Housing Corporation (CMHC), CMHC provides mortgage professionals with tools and the flexibility to make timely decisions when working with you to find a solution to your unique financial situation.

If you are currently unable to afford your mortgage payment, and won’t be able to in the near future, a loan modification may be the ideal option to help you avoid foreclosure.

Refinance with a New Loan

Depending on your financial situation, the best course of action may include obtaining a 2nd mortgage or refinancing your current mortgage with a B-Lender or a new 1st private mortgage lender.

You may be able to find another mortgage lender that will offer you a loan with better terms (such as a fixed rate) that may be more manageable. Review your current loan to determine whether it contains a prepayment penalty and check if refinancing is possible.

Ask for a Forbearance Agreement:

While a loan modification agreement is a permanent solution to unaffordable monthly payments, a forbearance agreement provides short-term relief for borrowers.

With a forbearance agreement, the lender agrees to reduce or suspend mortgage payments for a certain period of time and not to initiate a foreclosure during the forbearance period. In exchange, the borrower must resume the full payment at the end of the forbearance period, plus pay an additional amount to get current on the missed payments, including principal, interest, taxes, and insurance. (The specific terms of a forbearance agreement will vary from lender to lender.)

If a temporary hardship causes you to fall behind in your mortgage payments, a forbearance agreement may allow you to avoid foreclosure until your situation gets better. In some cases, the lender may be able to extend the forbearance period if your hardship is not resolved by the end of the forbearance period to accommodate your situation.

In forbearance agreement, unlike a repayment plan, the lender agrees in advance for you to miss or reduce your payments for a set period of time.

Plan a Repayment Plan with your lender:

If you have missed some of your mortgage payments due to a temporary hardship, a repayment plan may provide a way to catch up once your finances are back in order. A repayment plan is an agreement to spread the past due amount over a specific period of time.

Here is how a repayment plan works:

  • The lender spreads your overdue amount over a certain number of months.
  • During the repayment period, a portion of the overdue amount is added to each of your regular mortgage payments.
  • At the end of the repayment period, you will be current on your mortgage payments and resume paying your normal monthly payment amount.

To get information about these and other options to avoid foreclosure, contact us, we are Mortgage Problem Solution Providers in the Lower Mainland and Fraser Valley, BC.

We can help provide options that lets you pay off the delinquency over a period of time. The length of a repayment plan will vary depending on the amount past due and on how much you can afford to pay each month, among other things. A three- to six-month repayment period is typical.

Do You Require Help With a Modification of Mortgage?

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

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

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

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

Modification of Mortgage

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

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

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

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

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

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

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

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

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

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

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

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

We provide Free consultation to discuss the different options that are available to your situation. We are available 7 days per week including evenings until 9:00 pm. Call 604-812-3718 or email: info@gvcps.ca.

Struggling With Mortgage Payments? We Can Help

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

If you are experiencing short term or long term financial difficulties and struggling with your mortgage payments and as a result, missing your mortgage payments, foreclosure will be inevitable. The stress of your financial situation may cause you to ignore your financial problem. Don’t. If you would like to to get your mortgage payments back on track, you may still have options with your mortgage lender:

Short-Term Financial Difficulty – Struggling With Mortgage Payments, Can’t Pay Mortgage Option:

If you are temporarily unable to pay the mortgage payments in full, your lender may be willing to enter into a forbearance agreement with you whereby you and your lender work together to potentially avoid a formal foreclosure proceeding.

Your lender will delay their right to exercise foreclosure if you can catch up your missed payments in a certain time period. The time period and the payment plan of the forbearance agreement will depend on the details that are agreed upon by you and your lender.

Long-Term Financial Difficulty – Struggling With Mortgage Payments, Can’t Pay Mortgage Option:

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

What if my lender will not enter into a forbearance agreement or modification agreement and I can’t pay my mortgage loan? I still have mortgage problems and need solutions, what are the options?

If your lender will not enter into a forbearance agreement or modification agreement with you and if you are struggling with Mortgage payments and need an immediate solution, consult with a Mortgage Problems and Solutions professional at our Company, GVCPS. Our Company is a well-established real estate investment Company and we can help you.

We will explain your situation to you in plain english and provide mortgage refinancing or other options that might be right for you. Depending on your circumstances, mortgage refinancing or second mortgage options may help in managing your financial situation and may help you prevent foreclosure. We offer Free Consultation and do not charge you any fees.

Our specialized mortgage brokers near you are also on top of all the latest trends and innovations in the mortgage industry and help you come out of the situation – “Struggling with Mortgage Payments”.

Our brokers have knowledge from the status of interest rates to the availability of alternative financing options. With our superior technology and commitment to taking care of our clients during and after the transaction, you can be assured that not only now, but in the future, you will always have the best rates and mortgage products available by using our Mortgage Professionals at GVCPS.

We can help you Stop Foreclosure, reinstate your mortgage and consolidate your debts. Using your home equity, we can find manageable solutions to your mortgage financing needs. If you have minimal or no equity, we still have many options available to meet your needs. We can help make sense of your current situation and provide an immediate plan of action.

Our Company can also help relieve you of your financial stress if you can’t pay mortgage through our Mortgage Take over Program. Through our Mortgage Take over Program, our Company can take over your mortgage payments and the property associated with it.

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 any equity you may have in the property and protecting your credit.

In most cases our Company will take over your 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 and maintenance costs. We have a solution to your “Struggling with Mortgage Payments” situation.

We provide free consultation to discuss the different options that are available to your real estate situation. We are available 7 days per week including evenings until 9:00 pm. Call 604-812-3718 or email: info@gvcps.ca. You can also contact us 24 hours a day through our Confidential Sell to Us Form (click here).

If you are missing your mortgage payments and experiencing short term or long term financial difficulties, our mortgage professionals at GVCPS can help relieve you of your financial stress if you can’t pay your mortgage. We can help you either prevent foreclosure, stop foreclosure and if required, reinstate your mortgage through our Mortgage Take Over Program.

We will analyze your current situation and provide an immediate plan of action and the best solutions to your mortgage financing needs, even if you have minimal or no equity.

In its annual 2018 mortgage consumer study, Canada Mortgage and Housing Corp. (CMHC) stated that an extremely high number of first-time home buyers are having trouble making their mortgage payments. The latest survey by CMHC shows one in four people are struggling to pay their mortgage.

If you are struggling to pay your mortgage, the following information can help you with your financial situation as well as help you avoid foreclosure and protect your equity and your credit.

Q: What should I do if I am having trouble paying my mortgage and struggling to pay the mortgage?

A: To increase the chance of successfully managing your financial situation through early intervention, contact your lender as soon as possible.

Ask your mortgage lender about information on the options available for managing your financial situation and

Keep your mortgage lender informed as your circumstances evolve.

Your mortgage lender wants to establish and maintain a positive relationship with you over the long term. Most mortgage lenders have the flexibility to make timely decisions when working with you to find a solution to your unique financial situation.

Q: What options can mortgage lenders provide me if I am struggling to pay the mortgage?

A: Your mortgage lender can provide you with the following alternatives to resolve or avoid you committing mortgage payment default:

  • 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.
  • Offering a temporary short-term payment deferral. Your mortgage lender may be prepared to offer greater payment flexibilities, particularly if previous lump sum prepayments have been made, or if you have previously chosen an accelerated payment schedule.
  • Extending the original repayment period (amortization) in order to lower your monthly mortgage payments.
  • Adding any missed payments (arrears) to the mortgage balance and spreading them over the remaining mortgage repayment period.
  • Offering a special payment arrangement unique to your particular financial situation.

In every case, the options available to you will depend upon your individual financial circumstances and how quickly you have taken action to avoid defaulting on your mortgage.

Q: Is there anywhere I can get some free advice when struggling to pay a mortgage?

A: If you have missed making a mortgage payment and are struggling to pay the mortgage, contact the mortgage professionals at GVCPS. Mortgage professionals at GVCPS understand the stress and hassles that you face when you are experiencing difficulty making your mortgage payments.

For 25 years, mortgage professionals at GVCPS have been providing people with immediate monthly cash flow management solutions to unmanageable or unwanted mortgage payments along with protecting equity in the property and protecting home owner’s credit.

If you are struggling to pay your mortgage, contact a mortgage professional at GVCPS to help you get your payments back on track and to find a solution with your mortgage lender. GVCPS offers free consultation to discuss the different options that are available to your situation.  GVCPS Office: 604-812-3718 Email: info@gvcps.ca