Power Of Sale
In the event of a default under a mortgage, most mortgages contain a Power of Sale provision, giving the lender the right to force a sale of the propert |
CMHC Owned
In Canada when you borrow 80% or more of the home value then Institutional lenders must apply for mortgage loan insurance on behalf of the home buyer. |
How to Purchase a Power of Sale Repossession
What is it like to purchase a power of sale repossession after finding one on my Ottawa Home Repossession Report? It is handled very similarly. As your buyers agent I will help to represent your interests and get you the best deal possible.
Bankruptcy
Some homeowners may be forced to declare bankruptcy. In this event, the trustees appointed to oversee this process may seize and sell the owner's home. |
Proceeds Of Crime
When a known criminal is apprehended and found guilty of crimes from which he or she benefited financially, the courts will seize the individual's assets.. |
About Richard Pearce
Richard Pearce is a Broker and part owner of Guidestar Realty Corporation, Brokerage. We are a full-service brokerage firm specializing in aiding purchasers in their quest for a home.
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What People Are SayingFind out more about Richard and his services by listening what others have to say about him.
ResourcesSit down one-on-one with Richard and listen to him explain the process of purchasing a home He will discuss financing, inspections, mortgages and more.
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Repossessed Homes Alternatives |
Foreclosure vs Power of Sale |
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There are alternatives to repossessed homes. If you look at my free report you may not find a suitable property. If that is the case I would like you to know that I am a realtor and have been with Guidestar Realty and have been with the Ottawa Real Estate Board since 1996
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There is a difference between foreclosed homes and power of sale actions. A bank has several options and they often choose to use the power of sale provision in your mortgage which allows them to take possession of your home and quickly evict you.
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