Power of Sale/Mortgage Arrears

As outlined by the Canadian Bankers Association (CBA), mortgage arrears can become a concern when an individual misses two to three consecutive monthly payments on their mortgage. At Juno Mortgage, we understand the significance of preventing mortgage arrears, which can lead to more serious consequences, such as a Power of Sale incident. This occurs when a mortgage lender legally takes possession of a property with the intention of selling it.

Juno Mortgage is your ally in navigating through potential financial challenges. We specialize in finding refinancing options tailored to your unique situation, ensuring you can proactively address any issues before they escalate into arrears. Our goal is to empower you with the tools to sidestep the legal complexities associated with mortgage defaults.

Under the Canadian legal system, lenders are authorized to pursue legal actions as a means of safeguarding their investments. However, it’s crucial to note that borrowers are granted a specific timeframe to rectify these mortgage obligations. Juno Mortgage not only provides solutions to avoid arrears but also guides you through the necessary steps to ensure you can meet your mortgage obligations within the allotted timeframe.

Take control of your financial future with Juno Mortgage, where we are committed to helping you navigate the intricacies of mortgage management and securing a stable and worry-free homeownership experience.