ForeClosure
Understanding the Foreclosure Process in Alberta
If you’re facing foreclosure, the first step is not to ignore the notices.
This guide explains the process, step-by-step, in plain language.
Default on Mortgage Payments
Begins when a borrower misses mortgage payments.
Lenders may offer a grace period and attempt to contact the borrower.
Repeated missed payments can lead to default and legal action.
Statement of Claim and Court Involvement
Lender files a Statement of Claim with the Court of King's Bench of Alberta.
Borrower has 20 days to respond or risk a Default Judgment.
Failure to respond allows the lender to proceed with foreclosure unopposed.
Notice of Default
Issued when the borrower fails to make payments.
Formal warning that a breach has occurred.
May impact the borrower's credit score.
Borrower may still reinstate the mortgage with overdue payments.
Our Solutions
We provide homeowners with one-on-one professional assistance to resolve pending foreclosures. Through 20+ years of experience, we have developed and refined a number of successful strategies to help our clients stop foreclosures, manage their debt load, and even help renegotiate complex financial entanglements.
We carefully review all of the legal, financial and property information and we perform extensive due diligence to ensure that each of our clients is provided with honest and accurate advice. At all times our clients are aware of what stage they are at in the solutions process and the client is in full control of when they wish to proceed with the solution.
Some of the services we provide include:
Assistance with understanding legal paperwork
Explanation of the foreclosure process
Working directly with your lender(s) and their lawyers
Assistance with restructuring your mortgage payments
Finding you another bank lender
Sourcing private (non-bank) financing options
Providing long-term guidance through the legal and financial actions involved
Helping to avoid additional legal fees and judgments
What Our Clients Are Saying
Our consultant has been a pleasure to work with. They have been so helpful, and knowledgeable. Most importantly, they speak with confidence and that’s very comforting when in a situation like ours. ABFS Consulting as a whole has been very prompt and thorough. A refreshing feeling at the moment! Thank you!
Need to discuss your situation?
Schedule a 30-minute consultation where we can go over your options and discuss what’s next. We’re here to help.
Contact Us
Now is the time.
If you are facing foreclosure now is the time to educate yourself about the options and resources available to you. There are options available to stop foreclosures that allow you to save your home and credit, however, you often only have one chance to get it right.
Our dedicated team will guide you through the complexities of these legal issues, and help you find the right solution to help stop your foreclosure altogether. We believe in finding permanent solutions to the problems our clients encounter and not just Band-Aid fixes.
