Statement of Defense Alberta Foreclosures

 In the Alberta foreclosure process, once a Statement of Claim has been filed and served to all the parties, the property owner has 15 days to file a Statement of Defense or a Demand of Notice. Generally speaking, a Statement of Defense should be filed when the liability of the property owner is in dispute.

On the other hand, a Demand of Notice would be more appropriate when the only thing in dispute is the amount of the mortgage. Since a Demand of Notice can represent an admission of liability, the property owner should only file the Demand after careful consideration of the situation and the possible consequences.

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Buying Foreclosure Property

Stepping On A Land Mine

When you are buying a foreclosure property, either from the court or MLS, you are buying it “as is”. You have to remember that you are buying the property from the court or the lender directly. They have never owned or lived in the property themselves. The lender or court cannot warrant something for which they have no knowledge or control. Their interest is to recover the money they have lent to the original owner. Continue Reading

Foreclosure Process In Canada 

Being a Professional Real Estate Investor, one should have thorough knowledge about Foreclosure process in Canada. The word “foreclosure” is a nightmare for the property owner as well as for the Lender.

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Demand Letter  for Alberta Foreclosures

When and if the mortgagor (borrower) defaults under the terms of the mortgage contract in Alberta, there follows a process to inform all the parties to whom the default concerns.

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