Have you received a 60-day foreclosure notice? We can help!
Clic Hypothèque can help you get your credit file back on track with your current mortgage lender. Our main goal is to help you avoid foreclosure, and above all, to protect the EQUITY you’ve worked so hard to build over the years!
What is a 60-day foreclosure notice?
A « 60-day foreclosure notice » or « Notice of exercise of the hypothecary right » is an official notice, according to the Civil Code of Québec, through which a lender discloses the debtor’s failure to perform his obligations. The 60-day deadline is calculated from the moment the notice, once served to the borrower, is registered in the Québec Land Register.
A lender can send you a 60-day notice for any type of default:
- Unpaid municipal taxes
- Unpaid building insurance fees
- Overdue mortgage payments
During the 60-day period, the borrower can remedy the failure mentioned in the notice and either bring their payments up to date or pay back the arrears.
If the 60 days have elapsed and no agreement has been reached or no default payment plan has been arranged, the mortgage lender can ask the court for a “forced surrender” to seize the property in order to reimburse the amount owing.
What are your options once you have received a 60 day notice by a bailiff?
The first option is to contact your lender in order to pay the monies owed.If you are unable to obtain the necessary monies to repay the arrears, you may contact private lenders who could finance you for up to 75% of the market value of your property. Also, you may sell your property in order to pay your debtors and keep your remaining equity before the current lender obtains a court judgement to repossess the property.
Whatever your financial situation, our short-term financing solutions can be adapted to your current needs so that you can remedy the situation at a very competitive interest rate! Our private mortgage loan requests are processed without delay to help you correct the situation as quickly as possible.