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How to Stop Foreclosure in the Toronto Area? A loan! – Part 2

GTA House Buyers Helps Home Owners Stop Foreclosure in Toronto, Ontario.

In the previous blog post we discussed the number one method we use to stop foreclosure. This post will discuss…

Method #2: We Give You a Loan To Stop Foreclosure

The typical scenario is someone who is behind a couple payments on their mortgage or about to become behind. Their life situation has changed and they can’t afford the house any more. It could be a job change, divorce, injury or medical situation. Their bank won’t give them a loan. So who will give them a loan? If you have equity in your house, then we will! Your credit score doesn’t matter and you don’t need a job… what you do need is a house that has some value. Our rates and terms are very reasonable too… probably better than you’ll get through a mortgage broker… because you are dealing directly with the lender.

A loan from us will be used to pay off any of your mortgage arrears which helps avoid further late fees, penalties, lawyers fees, etc from your lender. Maybe you feel you are just running out of time and your house would easily sell if you had more time.

Home owners often use the funds from our loans to do renovations. Maybe they are handy or maybe they’ll hire out some of the work. We also refer people to the trusted trades people that we use… which makes doing renovations easier. Once a house has been renovated, cleaned and de-cluttered, then they usually sell for a lot more. People who get a loan from us are very thankful that it allowed them to maximize the equity they keep.

Do you still want more details on how to stop foreclosure with a loan?

One example that’s a bit more dramatic than most was with a big house in Whitby, Ontario (Just down the highway from Toronto). The house had 5 bedrooms, a 2 car garage… it was a big home. It had substantial wear and tear, but new flooring and a paint job would fix about 90% of the issues. They called me a couple days before the sheriff was scheduled to come. We worked fast but weren’t able to turn back the events that were in motion… the Sheriff did change the locks on the house… but we did get the home owners back in the house in under a week. Our loan paid off the arrears on the bank mortgage, gave the home owner extra funds to renovate, and they sold the house to a home owner for a high price. That seller asked me “Why didn’t my realtor friend tell me about this option?” The seller was very grateful for the solution we provided and they made a lot of money when they sold their house… which helped them move on with their life.

Before calling GTA House Buyers, the seller thought their only option was to let the bank sell their property AS-IS. And the bank would have charged enormous property management fees, cleaning fees, interest, penalties, and more.

If you’re having trouble paying your mortgage and you want to learn how to stop foreclosure, then give us a call. We can discuss your options. If a loan is better for you, then we can give you a loan. If you want us to buy your house as-is and fast, then that’s what we do too. We buy houses and lend all over the Greater Toronto Area.  Just contact us here on our website or give us a call.

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