Stop Foreclosure with a Mortgage Broker in Vancouver

Sometimes life takes an unexpected turn and leaves conscientious, financially responsible people without a way to make their mortgage payment on time. If you fall behind on your mortgage, the next step can be foreclosure, which puts you on the way to losing your home. When you need a foreclosure mortgage broker in Vancouver, Rala Investments Ltd. is here to help. Our experienced brokers will work with you to devise a plan that will allow you to keep your home. You don’t need to go into this alone. With a little help, some good planning, and steadfast execution, you can stop foreclosure and resume your life.

Tips to Prevent Foreclosure

One mistake home-buyers make is they don’t fully grasp the impact a new mortgage will have on their finances. They buy a new home and before they know it bills are piling up and paying their mortgage becomes increasingly difficult. Here are some tips from a foreclosure mortgage broker in Vancouver to help you stave off foreclosure.

  • Your mortgage payment must be your new top priority. Since lenders will typically begin the foreclosure process after 3-4 months of missed payments, it is imperative that you pay your mortgage in full, on time every month. 
  • You may need to adjust your standard of living. If your new mortgage payment is more than what you had previously been accustomed to, you are going to need to adjust your budget to accommodate your payment. Find any superfluous purchases and see what you can remove from your monthly budget.
  • You should seek help early if you are struggling. If you are having trouble making ends meet, it is highly recommended you speak with an accountant or foreclosure mortgage broker in Vancouver. An experienced professional can help provide financial strategies that can keep you moving in the right direction.

The best way to avoid foreclosure is to make sure you are spending within your means and don’t overreach when you purchase a new home.

Work with a Foreclosure Mortgage Broker in Vancouver

If the foreclosure process has already started, you do still have options. Before you lose your home, speak with a foreclosure mortgage broker in Vancouver to see what your options are and how you can get back on track. 

  • See if you qualify for assistance. There are certain government agencies and safeguards in place to help homeowners who are struggling to get by. Ask your lender, or do your research, to determine if you qualify for any sort of government assistance.
  • Ask for forbearance. If you are struggling to make your monthly payments, forbearance might work well for you. Forbearance is a temporary suspension of your monthly payments for a set, short period of time. This may allow you to get your finances back in order before resuming monthly payments. 
  • Try to restructure your mortgage. One avenue you may take to avoid foreclosure is to restructure your mortgage. If you are unable to consistently make your monthly payments, speak with your lender to see if you are able to restructure the terms of your loan. Restructuring your mortgage with a foreclosure mortgage broker in Vancouver can reduce payments and even interest rates.

Just remember that you do have options and you don’t have to fight foreclosure on your own.

Take Steps to Stop Foreclosure Today

If you’re at risk of falling behind on your mortgage payments, or you are already behind and facing the threat of foreclosure, you need an experienced foreclosure mortgage broker in Vancouver. Our team will make sure you understand exactly what’s happening and will also suggest various mortgage refinancing options intended to stop foreclosure and keep you in your home.

Call Rala Investments today for an appointment.

Rala Investments Ltd

1200 Lynn Valley Road Suite #301

North Vancouver, BC, V7J 2A2

Phone: 604-732-5865

Toll free: 1-866-732-5865

Vik Mann’s cell: 778-987-9006

Fax: 604-960-0827

Opening Hours

Monday – Friday: 9:00 AM - 5:00 PM

North Vancouver mortgage broker proudly providing a variety of mortgages, loans, and other financial assistance to the following areas in the Lower Mainland:

North Vancouver | West Vancouver | Vancouver | Burnaby | Langley | Coquitlam | Delta | Surrey | Richmond | New Westminster | Port Moody | Maple Ridge | Abbotsford | Cloverdale

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