Foreclosure is a legal process where a lender takes possession of your property if you default on a loan. The lender then sells the property to recover the unpaid debts. This process allows the lender to recoup their losses from the defaulted loan. Foreclosure can be judicial or non-judicial, depending on state laws, and typically involves several steps, including notices and a public auction.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Home Buying Guide

    Buying a home in Canada can be both exciting and daunting. With a competitive market and unique regulations, it's essential [...]

  • Paying Off Your Mortgage Faster

    >Getting a mortgage is a significant step toward homeownership. However, the process can seem complex and overwhelming. This guide will [...]

  • Optional Mortgage Insurance Products

    Understanding Optional Mortgage Insurance Products in Canada When it comes to securing a mortgage in Canada, one of the [...]