It is a reality that foreclosure happens in any market, in a boom an estimated .25% of homes face foreclosure and in a bust .75% of homes face foreclosure.

According to Canadian bankers association, as of March 2010, the rate of delinquent mortgages (home owners who were unable to pay their mortgages for over 90 days) is .44%. This number indicates the rates for the 8 chartered banks, there are over 1100 lending institutions.

Statistics kept by the Canadian Bankers Association show the number of mortgages in arrears (people that are behind on their payments more than 3 months) has grown significantly in Canada since the economic downturn in October of 2008. As a real estate investor we have the ability to help these people who have mortgage delinquencies and be able to make great money in the process.
There are various financial situations people get themselves into and we need to have many ways to be able to “spin” each deal both for the benefit of the person in trouble and ourselves.

Read the full story