If your British Columbia first or second mortgage goes into foreclosure and you don't want to sell your property, Rala Investments Ltd. can help you stop foreclosure.
Your existing lender may allow you to reinstate your mortgage if you bring it up to date and pay all costs. Rala Investments Ltd. can arrange an additional mortgage to pay the mortgage arrears and possibly provide additional funds to conslidate other debts. This is the best solution if you have a low rate first mortgage.
If your lender refuses to reinstate your mortgage, it will be necessary to arrange a new mortgage to pay them off. The mortgage brokers at Rala Investments Ltd. can deal with the lender's lawyer on your behalf to determine what course of action is possible. If a new mortgage is required, the new mortgage will usually be with a private lender at a higher rate. The goal then is to reestablish your payment record so that you will qualify for a new low rate mortgage within one year.
Rala Investments will provide you with strategies to improve your credit rating and will arrange an institutional mortgage for you once you are qualified. Occasionally, it is possible to obtain a new institutional mortgage at a low rate even if your existing mortgage is in foreclosure.
Phone Allan Sadler of Rala Investments Ltd. at 604-732-5865 for more information if you need assistance with a first or second mortgage foreclosure. I have helped hundreds of people in foreclosure over the past thirty-five years.