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The Foreclosure Process Explained
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Alberta Foreclosure Process
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Category Archives: Mortgage Problems
Core Values and the Foreclosure Game
Just when you think you’ve got the Alberta foreclosure process all figured out, a curveball lands you square in the face. In Alberta, the foreclosure process affords the homeowner the flexibility of time by honouring a suitable redemption period when … Continue reading
Personal Liability of Foreclosure in Alberta
Contemplating the personal liability of Foreclosure in Alberta is serious business. If for some unfortunate reason you find yourself in this position, you may be wondering just how much you could be on the hook for that outstanding debt you … Continue reading
Credit Counselling Caution
Credit Counselling Even a passive observer knows that consumer debt levels in Canada have reached record highs. StatsCan recently reported the ratio of household debt to disposable income to be 1.48, exceeding US household debt levels for the first … Continue reading
The Personal Costs of Foreclosure in Alberta
For a homeowner in Alberta, going through a foreclosure action can be a very costly ordeal in many areas of life. These include the obvious and substantial implications it can have on ones financial stability and personal credit rating, but … Continue reading
Rights of Redemption – A Homeowner’s Rights After the Redemption Period!
Definition: Equity of Redemption – the right of a borrower to redeem (i.e., buy back) his or her property by paying off the outstanding mortgage debt in full. Don’t confuse this term with the Right of Redemption of a borrower. … Continue reading
Using Home Equity to Reduce Bad Debt
Used properly, home equity can be very useful for homeowners wanting to get out of debt. What? You say I should go into debt to get out of debt? Well, actually, Yes! If done correctly, leveraging debt can work to … Continue reading
Posted in Foreclosure Advice, Mortgage Problems
Tagged mortgage problems, Reducing bad debt, second mortgages
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Going Into Debt to Get Out of Debt: The Dangers of Second Mortgages
Under the right circumstances, home equity can be your own personal golden goose. If you’ve lived in your home for some time and benefited from a rising local economy or made extra payments to reduce your mortgage quickly, you’ve created … Continue reading