Mortgage Arrears & Refinancing Options.
Emergency Mortgage Assistance.
Ontario, British Columbia & Nova Scotia.
What is Mortgage Arrears?
Mortgage Default Specialists.
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.
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.
Behind on your condo Fees?
A lien might be registered.
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?
We'll show you how it's done.
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.
Hear it from our Clients.
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