A Strategy for Walking Away from Non-recourse Mortgages in Alberta
Buying a property doesn’t always work out. Sometimes
investors and homeowners alike can’t keep up with their mortgages, and they face
foreclosure from their lenders. This blog post is about non-recourse mortgages in
Alberta and how they sometimes make it possible to avoid foreclosure with
careful negotiation—as long as the lender is understanding.
Podcast Episode 75:
“Help, I Can’t Make My Mortgage Payments!”
To mark the 75th episode of Tales from the Trenches, we have a Special Extended Edition all about foreclosures. This Tale is so packed full of helpful information that it had to be nearly half an hour long! The recent economic downturn in Alberta triggered by a collapse in oil prices means that many people are faced with a dilemma: what do you do if you can’t make your mortgage payments? It’s best to be proactive and not wait for the bank to come calling, and this Tale will help you figure out some options. We’ve also got some creative solutions for real estate investors that can help them keep their businesses above water in tough times.
Download the audio file HERE and the text/handout HERE.
(control click or right click + save as)