Mortgage Enforcement Proceedings
The institution of mortgage lending is vital to hardworking people’s ability to secure a home of their own. When borrowers fall behind or default on their obligation to repay a lender the money that was advanced purchase a property, mortgage enforcement proceedings are necessary. It’s essential that borrowers and lenders strictly adhere to the financial agreement that remains the bedrock of residential and commercial purchases. The trusted real estate lawyers at George, Murray, Shipley, Bell, LLP, delivers determined, ethical legal services when mortgage enforcement proceedings are required.
Why Hire A Mortgage Enforcement Lawyer
The lead mortgage enforcement lawyer assigned to your case employs the full force of our legal team to protect your rights and interests. As an experienced mortgage enforcement law firm, we seek the most cost-effective pathway to resolve the matter. Each case has unique elements, and the lead attorney may pursue creative options to bring the debt current and avoid litigation.
But, at the end of the day, a mortgage remains an encumbrance secured by real property. We are fully prepared to file an enforcement action and collect on the promise to repay the debt. Should the mortgage fall into default, your mortgage enforcement lawyer will seek judgment and began foreclosure.
Securing a Court-Ordered Sale
When a borrower fails to bring a mortgage current, it may be necessary to foreclose and issue a Notice of Sale according to Ontario’s Mortgage Act. Once the mortgage has been in default for more than 15 days, this course of action empowers the lender to sell the property. Defaults are somewhat rare in Ontario, and the process for securing a Notice of Sale requires experienced legal acumen.
It’s also important to recognize that the courts do not take mortgage enforcement proceedings lightly. Borrowers who believe a mortgage contract is invalid in some fashion have the right to file for injunctive relief and block sales. Such protracted litigation can prove costly. That’s why it’s crucial to have a determined and experienced mortgage enforcement lawyer represent your rights and interests.
Contact an Experienced Sarnia Mortgage Enforcement Lawyer
The importance of all parties following through on mortgage agreements cannot be understated. When contracts are broken, our legal team seeks the most cost-effective resolution possible. If you are a lender considering mortgage enforcement proceedings, call the Sarnia-Lambton law office of George, Murray, Shipley, Bell, LLP, and schedule a consultation.