Mortgage Arrears & Refinancing Options.

Mortgage Arrears.

Emergency Mortgage Assistance.

Ontario, British Columbia & Nova Scotia.

"Beyond Thankful!"

P. R.

Ontario Homeowner

Mortgage Arrears
What Is Mortgage Arrears?

What is Mortgage Arrears?

Mortgage Default Specialists.

We understand that bad times happen to good people and never judge clients facing financial hardship. Oftentimes mortgage delinquency is a result of employment issues, illness or money mismanagement. One or more late mortgage payments could be the beginning of a very difficult process. A delinquent mortgage is a technical default and you should expect to hear from your mortgage lender who will ask you to make up late mortgage payments to cure the mortgage arrears. Failing which, your mortgage lender has a legal right to demand repayment and eventually commence legal action which may include either a power of sale or a foreclosure. In either case, it is important to address the matter as quickly as possible. Contact us to learn how we can help you bring your mortgage back into good standing today with a mortgage arrears workout solution if you own real estate in Ontario, British Columbia or Nova Scotia.

Does Mortgage Arrears Affect Credit?

Mortgage Assistance Programs

If you have an existing mortgage that is held by a mortgage lender that reports to credit agencies such as Equifax or TransUnion, there is a possibility that late mortgage payments, including deferred mortgage payments, will be reflected on your credit report. This might affect your credit score and result in serious consequences with respect to obtaining future mortgage refinancing. Mortgage lenders, including private mortgage lenders, will review credit reports to review mortgage payment history and performance to determine whether their mortgage will be paid as agreed, even with evidence of sufficient income and an acceptable credit score per underwriting guidelines. A standalone incident might be excusable in the eyes of a mortgage lender, however chronic arrears or default judgements in relation to mortgage enforcement proceedings is that much more of an uphill battle. For these reasons and more we strongly urge real estate owners to contact DV Capital to create a tentative action plan to remedy mortgage arrears to prevent further stress, legal action & costs. 

Does Mortgage Arrears Affect Credit?
Can You Refinance Mortgage Arrears?

Can you refinance mortgage arrears?

Solutions for Mortgage arrears.

For clients experiencing mortgage arrears, the discussion and realities surrounding refinance options for late payments and mortgage arrears is complicated. Based on our experience, traditional (A-Lenders) are not usually interested nor comfortable with providing a mortgage to real estate owners with existing mortgage arrears. Furthermore, alternative lenders (B-Lenders) may also shy away from working with a real estate owner with existing mortgage arrears however they may consider refinancing with an isolated event of mortgage arrears with a reasonable explanation. Traditional and alternative bank lenders, and private lenders, are looking to fund mortgages that will perform; replacing a mortgage that is either currently in arrears or has been in arrears might not coincide with their underwriting & risk policies. DV Capital possesses vast experience, knowledge and success in many cases of helping its clients refinance with mortgage arrears and operates in Ontario, British Columbia & Nova Scotia. 

Seeking help for mortgage arrears?

Missed Mortgage Payment Help.

DV Capital has over a decade of experiencing helping homeowners overcome financial distress. We have mastered the art of remedying mortgage default with strategic financing solutions. Regardless of late or missed mortgage payments due to illness, job loss, or COVID-19, we will not judge you and help you with your mortgage arrears, property tax arrears, and condo fee arrears. We possess great experience with communicating with mortgage lenders and their enforcement lawyers to work out an amicable plan to help our clients reinstate their mortgage, or swiftly replace a defaulted mortgage in order to prevent legal action. 

Unpaid property tax payments?

Property Tax Arrears Help.

Real estate owners are responsible for making timely property tax payments. Mortgage lenders have a direct and indirect interest in their clients property tax account. This is why mortgage lenders at times will collect a portion of property taxes along with the principal and interest component, known as the mortgage payment. In other cases, the real estate owner is responsible for paying property tax instalments and at times is requested to provide proof to their existing lender or a new lender if they’re refinancing. Property tax arrears is a technical act of default under an existing mortgage and can prohibit refinancing or borrowing additional funds. Property tax default can also lead to penalties, interest and tax liens. In fact, we have helped homeowners whose property tax delinquency was referred to a Bailiff to sell their home in a tax sale and have helped homeowners bring their property taxes up to date to avoid mortgage default legal proceedings such as power of sale action. Contact to learn about the consequences and solutions for unpaid property tax arrears in Ontario, British Columbia & Nova Scotia. 
Behind on your condo Fees?

Help for Condo or Strata Arrears and liens.

It’s very important for condo and statra owners to be aware of their responsibilities and obligations and the consequences of overdue condo and strate maintenance fees. Falling behind on your monthly condominium maintenance or strata fees and or not paying for a special assessment can result in a lien being registered against your condominium or strata unit. In the event that unpaid condo or strata fees and or special assessment balances aren’t rectified, you may receive notice that a lien will be registered against your unit. Not only will this make for an uncomfortable environment in your living space, you can lose your right to vote at meetings, have difficulty qualifying for a mortgage, and in the worst case, have your condo or strata unit sold under a power of sale or foreclosure if the issue isn’t rectified, depending on the respective regulatory rights award to condo corporation in Ontario, British Columbia & Nova Scotia.

Solutions For Mortgage Arrears?​
solutions for Mortgage arrears?

missed mortgage payment help.

We’re well experienced with helping clients battling late mortgage payments. We know how to communicate with clients’ lenders and their legal departments about cases of mortgage arrears. We maintain relationships with real estate lawyers well-versed with the mortgage arrears and default process and leverage this to gather high-level information. We know how to help bring an existing mortgage up to date with permission of the mortgage lender and their legal department and if the mortgage must be repaid, we know how to swiftly replace the defaulted mortgage. We operate with a sense of urgency and precision and communicate with all parties as we understand the costs and risks that our clients face if the mortgage arrears isn’t remedied and the fact that mortgage lenders have a legal right to commence legal action such as a power of sale or foreclosure. If you’re a real estate owner facing mortgage arrears in Ontario, British Columbia or Nova Scotia, contact us 7-days a week for a confidential discussion; we will do our very best to help you succeed. 

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DV Capital Corporation.

FSRA License: 13186
NS License: 3000348 | 3000349

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